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How does earthquake insurance work? May 3rd
Earthquake insurance may not be on the minds of many Canadians. And earthquakes may not top the list of likely natural disasters in Canada, but your home could be at risk. According to a study commissioned by the Insurance Bureau of Canada, a major earthquake could devastate communities across the c.... More »
Are your deposits at Canadian financial institutions safe? Mar 21st
Ask MoneySense
We live in Ontario, and in light of the current banking problems in the U.S., we are a bit concerned about our investments.
They are held at three different banks at the moment and are largely in GICs and high-interest savings accounts.
We are aware that up to $100,000 is insure.... More »
Does a Higher Home Insurance Deductible Mean More Savings? + MORE Jun 28th
Home insurance can sometimes be tricky. You know you need a home insurance policy, but how do you find the right deductible amount? On the one hand, you want low monthly payments. On the other, you don’t want a high payment to make if something happens and you have to file a claim. But, what’s .... More »
How much will you pay for CMHC mortgage loan insurance? Nov 15th
In this video, Preet Banerjee looks at how to calculate your CMHC mortgage loan insurance and how raising your down payment will help you save
.... More »
Want life insurance? You may want to track your fitness, says John Hancock Sep 20th
John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that include optional fitness tracking through tools including wearable devices and smartphones, the company said on .... More »
5 questions you have about the housing market
– moneysense.ca
(Getty Images / Dimitri Otis)Markets are frothy. Emotions are high. Yet, all you really want is to know whether or not the single largest investment you made will avoid a price crash and continue to add substantial value to your net worth statement. To help, here are five answers to questions you may be asking about Canada’s real estate market and recent announcements that impact these markets.
1) Will there really be a 50% drop in housing prices?
Earlier this week Canada’s banking regulator asked certain financial institutions to stress-test a 50% decline in house prices for the Vancouver market, a 40% decline in house prices for homes in the Greater Toronto Area, and a 30% decline in prices across the rest of Canada. (To read the full CBC.ca story, go here.) Headlines focused on “sharp drop” and “price crash,” but rather than fear the worst we should be applauding this scrutiny.
One of the primary roles of the Office of the Superintendent of Financial Institutions (OSFI) is to act as Canada’s risk manager for the financial services and insurance industries…
