All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
What are Insurance Riders? Do You Need Them? + MORE Sep 20th
Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders. But what exactly is an insurance rider,.... More »
CMHC tightens mortgage rules in latest response to COVID-19 + MORE Jun 12th
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic.
The new rules will lower the amount of debt an applicant for an insured mortgage can carry, set a hig.... More »
Florida's Insurance Test + MORE May 2nd
Will Republicans block an attempt to limit a legal scam?.... More »
How to calculate the taxable amount for a cashed-in whole life insurance policy + MORE Apr 18th
Ask MoneySense
I cashed in my whole life insurance policy last year and received a T5 suggesting I have to pay tax on the full amount of my cash value. Is this correct? The cash surrender value was $27,000, I paid $28,000 in premiums, and they told me my pure cost of net insurance was $30,000, whate.... More »
5 Steps: What To Do After A Car Accident + MORE Oct 18th
There you are, out running errands or simply heading to work, when the unthinkable happens: a collision. What now?
If you are involved in a traffic accident, try to remain calm, and follow these steps for what to do after a car accident, according to insurance carriers.
1. Check For Injuries
Life .... More »
Car insurance in 90 seconds
– moneysense.ca
MoneySense Senior Editor David Hodges breaks down insurance company jargon to help you determine what level of coverage you really need.
MM&A’s bankruptcy reveals glaring gaps in rail insurance rules
– theglobeandmail.com
As the lawyers descend on the Montreal Maine & Atlantic Railway Inc., a vague set of industry insurance rules is unearthed
Usage-based insurance
– moneysense.ca
Usage-based insurance has recently launched in Ontario and Quebec on a voluntary basis by Desjardins Insurance and its subsidiary, The Personal Insurance Company. But what is it and how does it work? A small wireless device is installed into a vehicle’s diagnostic port to measure distance travelled annually, frequency of hard braking and acceleration, as well as time of day the vehicle is driven. Drivers can then log in online and share the info with their insurance company to determine whether they can save on insurance, up to a maximum of 25%, based on their habits.
Roughly half of Canadians have more than $10,000 set aside in an emergency fund while 17% have less than $1,000 and 20% have up to $5,000, according to a new poll for BMO. “Financial emergencies, such as a broken furnace or major car repairs, can crop up at any time and, without some form of financial cushion, can potentially cause households to take on more debt than is necessary,” said BMO’s Janet Peddigrew…
Roughly half of Canadians have more than $10,000 set aside in an emergency fund while 17% have less than $1,000 and 20% have up to $5,000, according to a new poll for BMO. “Financial emergencies, such as a broken furnace or major car repairs, can crop up at any time and, without some form of financial cushion, can potentially cause households to take on more debt than is necessary,” said BMO’s Janet Peddigrew…
