All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
What is short-term disability insurance? Sep 17th
Short-term disability (STD) insurance provides income for someone over a short period of time if they can’t work because they’re ill or injured, have been in an accident, or are in the hospital. STD insurance is often offered by employers as part of their workplace benefits package. It’s not .... More »
Condo maintenance fees: How much is too much? Jun 29th
Condos are a popular choice for many first-time homebuyers owing to their lower price point and access to amenities such as gyms and pools. But as well as a mortgage, condo owners are responsible for monthly maintenance fees that support operating costs for the building, among other aspects, and it&.... More »
Best credit cards for rental car insurance in Canada + MORE Dec 14th
Rental car insurance is a travel insurance benefit included with many premium credit cards. Understanding credit card rental car insurance can give you peace of mind and save you money the next time you hit the road. Let’s dive into the best credit cards with rental car insurance coverage in Canad.... More »
Canada’s best credit cards for travel insurance 2022 May 19th
If you’re planning to travel this summer, you’ll need travel insurance if you plan to go out of province. These days, many of the credit cards available include some kind of travel insurance. While that’s a great selling feature for these cards, savvy Canadians know that not all insurance is c.... More »
How You Can Protect Your Data from Cybercriminals Aug 4th
If you found a USB stick in the bathroom at work, would you plug it into your computer to see what’s on it? Preying on our inherent curiosity is one clever way cybercriminals try to trick us into making security mistakes in an effort to gain access to sensitive computer systems and launch a cyber .... More »
Accident benefits have you covered—but for what, exactly?
– moneysense.ca
Accident benefits are likely the last thing on your mind when you’re buckling up in a new ride and tuning into your ultimate road-trip playlist. But it’s important to know that this kind of car insurance is mandatory across Canada, and it plays a very important role if an accident happens and someone gets hurt, including yourself.
What are accident benefits?
The words “accident” and “benefits” make an unlikely pair, but if you get into an accident resulting in unjury, accident benefits are the part of your auto insurance meant to provide you or another insured person on your policy (like your spouse or your children) with medical coverage, beyond what public healthcare offers. It’s required insurance that provides peace of mind.
Who makes it mandatory? “Provincial governments set what is basic or mandatory automobile insurance coverage,” says Vanessa Barrasa of the Insurance Bureau of Canada (IBC). “Mandatory coverage typically only addresses bodily injury, accident benefits and third-party liability…
What are accident benefits?
The words “accident” and “benefits” make an unlikely pair, but if you get into an accident resulting in unjury, accident benefits are the part of your auto insurance meant to provide you or another insured person on your policy (like your spouse or your children) with medical coverage, beyond what public healthcare offers. It’s required insurance that provides peace of mind.
Who makes it mandatory? “Provincial governments set what is basic or mandatory automobile insurance coverage,” says Vanessa Barrasa of the Insurance Bureau of Canada (IBC). “Mandatory coverage typically only addresses bodily injury, accident benefits and third-party liability…
What is no-fault insurance? Why do you need it?
– moneysense.ca
No-fault insurance is more about the insurance claims process rather than dismissing any blame. To sum it up, this kind of policy was designed so you won’t have to drag your feet to a lawyer’s office or provincial court to deal with a suit or claim after a collision. Instead, your insurance company will automatically cover costs for damages or injury under certain conditions (read on to learn more) so you can get on with your life sooner.
What is no-fault insurance?
No-fault insurance is part of your policy so that insurance companies, instead of the court system, battle it out with each other to settle claims. For example, if your car was damaged as a result of a distracted driver, your insurance provider will directly give you coverage, and then it will request a claim in the same amount from the accident-causing driver and their insurance provider.
But let’s also talk about an at-fault, or tort, policy. The dominant type of insurance in Canada before the no-fault system kicked in back in 1989, tort allowed you to sue a driver (or someone to sue you) when a smashed-up car, damaged property or even bodily harm resulted from a collision…
What is no-fault insurance?
No-fault insurance is part of your policy so that insurance companies, instead of the court system, battle it out with each other to settle claims. For example, if your car was damaged as a result of a distracted driver, your insurance provider will directly give you coverage, and then it will request a claim in the same amount from the accident-causing driver and their insurance provider.
But let’s also talk about an at-fault, or tort, policy. The dominant type of insurance in Canada before the no-fault system kicked in back in 1989, tort allowed you to sue a driver (or someone to sue you) when a smashed-up car, damaged property or even bodily harm resulted from a collision…
