All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
#RoadtoSavings Twitter Party: Summer Driving Savings PLUS $100 Grand Prize Jun 11th
Planning to take a road trip this summer? While packing the fam into the van and clocking some mileage is a long-loved Canadian tradition, road trips can be pricey – especially as today’s gas prices sky rocket.
What’s a family with wander-lust to do? Why, save with pro finance and lifesty.... More »
How to deal with the rising costs of auto insurance due to car theft Apr 17th
Looking for a break on car insurance premiums is often top of mind for drivers. And finding ways to reduce that figure is especially important now, when rampant thefts have led to higher insurance costs.
How to lower the cost of auto insurance and prevent car theft
Experts say installing .... More »
Cash Values & Life Insurance Mar 3rd
In a world of way too much tax there still a tax strategy that Canadians should take advantage of.
This strategy is to decrease your tax burden, and the tactic is purchasing a life insurance policy that allows for tax-deferred growth.
The Concept
Many insurance companies have life insurance contrac.... More »
The Canadian Dental Care Plan is now available to millions more, with coverage starting in June. Here's who's eligible + MORE Jun 1st
The dental plan, currently in its second year, will be available to many Canadians 18 and over, including their children, with eligibility based on household income, insurance and other factors..... More »
Auto Loans Debt: A Risk to Canada? Nov 7th
When it comes to shopping for a car, most people don’t buy on price – they buy the payment.
But a new study says most drivers can’t really afford to buy a set of wheels – even the gently used vehicles most financial guides recommend – to begin with.
American comparison site iSeeCars.com a.... More »
Don’t Let The Polar Vortex Freeze Your Finances
– ratesupermarket.ca
Canadians saw extreme weather coast to coast in 2013 – and insurance companies saw a spike in their payouts at a record-breaking $3.2 billion to policyholders, according to the Insurance Bureau of Canada. This is more than triple the normal payout rate, which has averaged $1 billion since 2010.
The Floods: A Financial Disaster
The record payouts aren’t surprising considering we had three major weather disasters last year – the Alberta floods, the costliest natural disaster in Canada’s history, resulted in a payout of $1.74 billion, while the Toronto floods saw $940 million in payouts. Two hundred million was most recently paid out for the ice storm in Ontario and eastern Canada.
If these figures scare you, they should – and those are only for the losses that were insured! As I discussed in Insurance Lessons From The Calgary Floods, a lot of Albertans were shocked and outraged to find out their insurance policy didn’t cover a lot of the damage, leaving many of them to foot costly bills…
