Everything you need to know about your car insurance deductible + MORE Mar 12th

If you just bought a new vehicle or are reviewing your insurance coverage needs, you may have questions about your deductible. Questions like: How does a car insurance deductible work? Do I need one? Will my premiums be affected? And, how much will it cost me? Once you understand the basics, you can find the car insurance deductible that’s right for you.

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What is a car insurance deductible?

A deductible is the payment you are required to make when you file a successful insurance claim—even if your insurer is covering the majority of the cost. Think of it as the base amount you’ll have to cover yourself before your insurance kicks in. For example, if an auto repair costs $2,500 and your deductible is $1,000, you would pay $1,000 and your insurer would cover the remaining $1,500…

Most Canadians are aware of the Big Five banks: RBC, TD, Scotiabank, BMO and CIBC. And, some may even know that occasionally National Bank of Canada sneaks in and expands that list to six. But even with these accounted for, there are dozens of banks in this country—including a growing number of fintechs and neo banks—each offering its own suite of personal banking products and services. Finding the best one is tricky, especially since it depends on your specific needs, covering everything from your everyday banking habits to your savings goals, if you need or have a mortgage, as well as investments and more. In this article, we take a look at the standout banks, so you can decide which one works for your personal banking needs. We’ll also cover if these banks are covered by The Canada Deposit Insurance Corporation (CDIC), meaning that deposits held at said banks are insured up to C$100,000 in case of a bank failure. Here are the best banks in Canada for 2022.

The best big bank in Canada: Scotiabank

All of Canada’s Big Five banks offer customers stability, a broad portfolio of financial products, and the convenience of thousands of physical bank branches and ATMs…