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What is comprehensive insurance and what does it cover? + MORE May 23rd
Comprehensive insurance essentially covers you for things that happen to your car that aren’t caused by you or another driver. Think of it this way: If collision insurance covers you for accidents, comprehensive insurance covers pretty much everything else that could happen to your vehicle. It pro.... More »
Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis Sep 29th
For years in his academic papers and some of his 17 published books, famed Canadian finance professor Moshe Milevsky described the history and theory behind a seemingly obscure retirement/longevity insurance structure known as the “tontine.”
Milevsky, who works at the Schulich School of Busi.... More »
The Benefits of Donating a Life Insurance Policy to Charity + MORE May 7th
Life insurance policies cannot only be left to an individual beneficiary, but can be donated to charity. Along with the satisfaction of knowing that you are leaving money to a worthy cause, donating your policy will also have certain tax benefits.
Donating your life insurance policy can be accompli.... More »
The best travel insurance credit cards in Canada for 2024 Jan 4th
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The best travel insurance credit cards in Canada for 2024
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What is landlord insurance? + MORE Sep 24th
Landlord insurance, true to its name, is a type of policy for people who rent out a room, an apartment or a house to tenants. Also known as rental property insurance, it has some key differences from home insurance—the biggest one being coverage for loss of rental income, in the event that your pr.... More »
“Do I need to tell my insurance company about a house fire or flood that I fix myself?”
– moneysense.ca
You had a fire or flood in your home. Now you’re thinking about trying to fix the damage without telling your insurance company so that your rates don’t go up.
In my experience, most homeowners have this moment after a loss event. It’s fine to think about it—but I would say, don’t think too long, as your insurance policy will require you to report a loss like this right away.
You will also not be allowed to start the repairs on your own in a “see how it goes” type of way and report the claim later if your repairs aren’t working out as planned.
In my experience, most homeowners have this moment after a loss event. It’s fine to think about it—but I would say, don’t think too long, as your insurance policy will require you to report a loss like this right away.
You will also not be allowed to start the repairs on your own in a “see how it goes” type of way and report the claim later if your repairs aren’t working out as planned.
Click to compare home insurance quotes from some of Canada’s top providers*
Many people think their home insurance claim will result in the insurance company fixing everything related to a specific problem or incident. That’s likely not true. Normally, an insurance policy only covers the repairs that are a result of the fire or the flood; it does not cover fixing the cause of the fire or the flood—for example, faulty wiring that caused a fire, or a frozen pipe that burst may not be covered in your payout from a house insurance claim…
