How to go about securing the best policy for your insurance in Canada.
Latest News
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 »
“I discovered water damage in my home. Will insurance cover me?” + MORE Jan 27th
Q: My washing machine has been leaking for years and we only just learned of the leak and the resulting damage because of staining on our basement ceiling below. Will my home insurance cover this? –Alison
A: The end result of water damage is almost always the same—repairs to your floors,.... More »
Rising rates are good news for near-retirees seeking longevity insurance + MORE Jul 3rd
For years, low interest rates have been a boon to borrowers but a curse to older investors wanting low-risk interest income options. Now, after a decade of minuscule rates, interest rates are starting to inch back up again: another 0.5% as of June 1st. That’s good for GIC investors (guaranteed inv.... More »
What is term life insurance and how, exactly, does it work? May 27th
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10 topics. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event .... More »
What NOT To Do Before a Life Insurance Medical Exam
– ratesupermarket.ca
A 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…
Does a Higher Home Insurance Deductible Mean More Savings?
– ratesupermarket.ca
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…
