Insurance woes + MORE Aug 2nd

At least one insurance company is raising rates in the wake of severe summer weather in Canada. TD Meloche Monnex will lower the basic coverage for the sewer backup coverage from $50,000 to $15,000 while the premium will rise from $129 to $138, according to reports. The changes affect renewals only and come after devastating floods in Calgary and surrounding area in June and July as well as a flash flood that caught Toronto offgaurd soon after flooding basements and cutting power to thousands of homes.
Looking for a real estate bargain in Toronto and surrounding area? Check out this heat map of Toronto housing prices. The cool blue areas are where houses and condos are selling cheapest.
We talk a lot about, err, money here at MoneySense. Rarely however do we talk about cash and how best to carry it. Gone are the days of chunky wallets. Here are 10 super slim wallets for the stylish man.

Auto insurance, railroads among portfolio’s winners

August 2, 2013
You’ve tuned your engine, packed your trunk and have planned your gas route – you’re all set to hit the open road for this summer’s road trip. But have you compared your car insurance rate recently? If not, you may be less prepared than you think for the highway.
It’s no secret that car insurance can be confusing and expensive – perplexing premiums and common driver misconceptions can take a toll on your patience and your wallet. Fear not – this week’s guide is all about choosing the best car insurance with ease.
How Car Insurance Rates Are Calculated
If a 25-year-old man speeds 20 km over the speed limit in Ontario while carrying a tent in his trunk, what will his car insurance premiums be? Might seem like one of those ridiculous math questions from grade school – but these factors actually add up to what you may pay for your insurance coverage.
Learn more on how your premiums may be calculated – and what you can do to keep your costs down…

Having the coverage discussion with your car insurer can be a bit confusing. In addition to sorting out your deductible and premiums, it may not always be clear how the insurer will treat you once you’ve actually been in an accident. It’s no wonder so many of us are tripped up by auto insurance; it’s an expensive and stressful milestone for drivers to overcome.
Possible one of the most confusing aspects to auto insurance is understanding when you’re covered – and what actions can void your coverage altogether. Here are some of the top car insurance myths debunked.
A Driver In Your Car Is Covered By His Own Insurance
This one’s a nope: if you loan out your car, your insurance stays with the vehicle. So if a family member or friend gets into a fender-bender while borrowing your car, you are on the hook to deal with the claim and the insurance rate possibly going up.
Red Cars Are More Expensive To Insure
Another false! Insurance companies don’t care about the colour of your car…

There’s no doubt that owning a car can be expensive. On top of the cost of gas, regular maintenance and repairs (not to mention buying the vehicle itself!), you still have to pay insurance each month. The good news – you can lower your car insurance costs with a little shopping around. Here’s what to keep in mind as you hunt for your best rate.
1. Be A Safe Driver
By avoiding speeding tickets and accidents, you’re sure to save on your premium. Most companies will reward you for every three years that your record remains clean and clear.
2. Cut Down On Your Mileage
It goes without saying – the less time you spend on the road, the less likely you are to have an accident. Consider carpooling or taking public transportation when you can to lessen the wear and tear on your car, and your time behind the wheel.
3. Reduce Coverage On An Older Vehicle
If your vehicle is an older model, and you’ve since paid off its purchase, consider dropping your collision insurance…