How to go about securing the best policy for your insurance in Canada.
Latest News
Refugees and the long political journey + MORE Dec 13th
(BULENT KILIC/AFP/Getty Images)
Given where they are coming from, those 7,300 Syrian refugees who will arrive in Montreal by the end of 2016 will likely welcome the display of banal Canadian bureaucracy set up in their honour. They will taxi into Trudeau Airport and be taken to a special screening a.... More »
Canadian snowbirds in flux as insurance firms deny them COVID coverage — but there is a solution + MORE Jul 14th
Canadian insurers are refusing to provide travel health insurance to snowbirds hoping to travel south this winter. However, some U.S. insurers are willing to step in..... More »
New mortgage rules to steer consumers to big banks + MORE Dec 1st
Are you thinking about going to one of the smaller non-bank lenders for your next mortgage? If your property is worth more than $1 million you may be out of luck.
That’s just one of the conditions consumers shopping for a mortgage will now need to consider as the latest round of federal mortga.... More »
Compare car insurance quotes from Canadian providers Jun 24th
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Compare car insurance quotes from top providers in Canada
In under five minutes, get a personalized car insurance quote from one of Canada’s top providers—free of charge. Just tap the button to get started.
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How the heck is Lorelai from Gilmore Girls not broke? Nov 27th
At Luke’s Diner for the morning coffee she’ll have a sip of before dashing off.
Ah, Gilmore Girls. A show about love, life, relationships and…money? The hit series is full of fast-talking banter, plenty of coffee and some interesting financial issues that to a 20-something pers.... More »
A reno can void your home insurance
– moneysense.ca
A bathroom renovation could void your home insurance policy. (Getty Images / ullstein bild)Have you ever read your insurance policy contract in full? I mean line by line, page by page?
Turns out there’s a clause in the vast majority of home insurance policies that eliminates your coverage protection should you undertake a home renovation. So, if a pipe bursts during that bathroom remodel and ultimately destroys the floors on your second floor, you could find out that your claim is denied.
While it’s case by case, the fact is your insurance provider has a legal right to deny your claim—simply because of that clause.
You can always call your insurance provider and notify them of the planned renovation, but don’t assume this protects you on the off chance you need to file a claim. Notifying your insurer of your intent to renovate simply prompts the company to go the next step, which is to talk to their actuaries. (These are the people who love numbers and statistics and who crunch probabilities all day long to calculate premiums and rates…
Ontario Auto Insurance Rates Drop Up to 7%
– ratesupermarket.ca
Great news for Ontario drivers – lower pricing was rolled out across the province last week by auto insurers, according to the quarterly rate report released by the Financial Services Commission of Ontario (FSCO).
Thirty nine insurers, representing 73.48 per cent of the market, have cut their premiums by a province-wide average of 0.95 per cent, with some insurers slashing rates up to 7 per cent. This is compared to an average rate reduction of 0.54 per cent reported in Q4 of 2014.
Will You See Lower Auto Insurance Premiums?
Keep in mind, these reports indicate the average reduction put in place across the province; some drivers may see lower, higher or unchanged premiums, depending on their specific driver history and demographics.
“An individual policyholder may experience a rate change that is either higher or lower than the industry-wide average rate change, or the average rate change for a particular insurer, depending on several factors,” states FSCO.
How Can I Take Advantage of these Auto Insurance Premium Discounts?
Don’t wait for your renewal deadline: It’s important to shop around when rates are lower; as some insurers are implementing greater reductions than others, it’s worth checking to see if you’ll qualify for a better rate elsewhere…
A Fresh Financial Start
– ratesupermarket.ca
It’s been a week of change for your finances, from new savings options announced in the government’s budget to a wave of price reductions for auto insurance customers. Will your piggy bank come out on top? Read on to see how these updates will affect your bottom line.
INFOGRAPHIC: The Perfect Pro – Your Guide to Mortgage Professionals
It takes a village to buy a home – from your first open house to picking up the keys, you’ll need a slew of pros to make the transaction a smooth one. We’ve rounded up the players for your home buying dream team, what they cost, and what they do – plus vital questions you need to ask.
Read Penelope’s Blog | Your Guide to Mortgage Professionals
Federal Budget Highlights: What’s in Store For Your Money
The Conservatives pre-election federal budget has been announced, and appears chock-full of new tax savings and consumer protection measures. Will these changes really help the bottom line for Canadians? Here’s what’s new – and what it means for your money…
