All about Canadian insurance. Learn the ins and outs and get the latest news.
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What is universal life insurance? + MORE Jun 25th
Among your different life insurance options, a universal life insurance policy is one of the most complex. It requires more involvement than both term and whole life insurance policies—so you can’t simply set it and forget it. And you have decisions to make regarding how much you pay, and how th.... More »
Should I invest my money or buy a life insurance policy instead? + MORE Feb 8th
Q: My wife and I are both 40 and have two kids—ages 5 and 7. We are considering buying a joint last-to-die life insurance policy that would cost a fixed $7,105 per year for ten years. That’s a total of $71,050 and the policy would pay $500,000 when the last of us dies. This is a proposition.... 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 »
National Bank of Canada World Elite Mastercard review Oct 31st
National Bank’s World Elite Mastercard has long earned accolades for its included insurance, robust points program and unique and valuable perks, making it a solid choice as a travel card. With the fall 2022 restructuring of its rewards program and other adjustments affecting insurance and the rei.... More »
What is tenant insurance? Oct 3rd
Tenant insurance, also known as renter’s insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you likely can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $30 a month) is a small price to pay when you conside.... More »
A Year of Rate Hikes: Ontario Car Insurance Rates Have Increased Again
– ratesupermarket.ca
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 3.35 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the fourth quarter of 2018, approved rates from auto insurance companies increased by 3.35 per cent on average.
The list of approved rates seemed to be wide-ranging, seeing as this time around, some companies were approved for an increase of just 1.65 per cent, while another company inflated its rates by 34.87 per cent.
“Consumers are urged to shop around for auto insurance,” FSCO said in its quarterly statement…
