Does a Higher Home Insurance Deductible Mean More Savings? + MORE Jun 28th

How to go about securing the best policy for your insurance in Canada.
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 insurance agents

Federal Equity-Split Program Begins Monday Sep 1st

The First-Time Home Buyer Incentive (FTHBI) will officially begin on Monday, September 2. The program was initially announced during the Federal Government’s budget launch in March. The down payment assistance program will be administered by the Canada Mortgage and Housing Corporation (CMHC), and.... More »
 insurance agents

Scotiabank Scrambles to Fix Credit Card Statement Errors Nov 8th

On October 20, 2019, Scotiabank identified a technical error where legitimate charges on certain customers’ credit card statements were mislabeled as “BNS Scotia Life Insurance.” The mistaken charges all took place between October 18 and 20. Many customers were angry and took to.... More »
 life insurance

Do You Need to Add Your Children to Your Auto Insurance? Oct 11th

If your children live at home and will drive your car, even occasionally, your insurance company will consider them “occasional drivers” and will add them to your auto insurance policy. The rule also applies to others living in your household, including relatives and roommates. When sho.... More »
 renter's insurance

What is an Insurance Grace Period? Sep 13th

Life gets busy sometimes. It’s not surprising you might forget to pay your insurance premium. But what does that mean for your coverage? Some insurance is optional, but some — like auto — is mandatory. So, the last thing you want is a cancelled policy. Thankfully, you might not ne.... More »
What NOT To Do Before a Life Insurance Medical ExamA history of eating greasy burgers every day or chain-smoking. These are things you CAN’T hide in your system (heart, lungs) before a life insurance medical exam. But what about a beer the day before, salty chips, Red Bulls and espresso shots? These you MIGHT be able to temporarily hide. And, why should you? So you don’t skew your test results.
The night before a medical exam for your life insurance is important and shouldn’t be taken lightly. While the exam might only take 30 minutes to an hour, what you eat, drink – – and do – – might show up in the results. And, that can determine the premiums you’re charged (gulp!).
So, here are a few things NOT to do right before your life insurance medical exam.
Avoid Skimping on Water
Some people avoid drinking water before their exam. But, you should drink plenty of water and have a full glass before your exam. This helps when you take your urine test and you won’t be dehydrated. Dehydration can make it hard for your phlebotomist to find a good vein when they do your bloodwork…

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Does a Higher Home Insurance Deductible Mean More Savings?
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 the right deductible amount? And, how can you get the most savings? Let’s explore a few ways to calculate your deductible and weigh the pros and cons.
Understanding Your Home Insurance Deductible
Your deductible is how much you as a homeowner and policy owner have to pay out-of-pocket (yourself) for damages to your property. This is the payment you pay before your insurance will make any payment towards the damages or a loss when you file a claim. Let’s look at an example.
Your upstairs neighbor’s tub overruns and it floods your apartment. The damage totals $10,000. If you have a $1,000 deductible, you don’t then send $1,000 to the insurance. No, if the claim is covered by the insurance company, they will send you $9,000 which is the balance of the claim…

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