All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
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 »
Winning financial journalism at the CFA Awards + MORE Mar 31st
The Certified Financial Analyst Society (CFA) of Toronto this week hosted the Financial Journalism Awards and MoneySense staff was happy to be a part of the ceremony. These awards recognize the contribution of various Canadian based publications and journalists in helping consumers and advisors gain.... More »
Home insurance: Are you covered for wildfires, floods and other climate-related disasters? Jan 19th
In 2024, severe weather caused record-breaking property damage across Canada. Home owners and insurers are reeling from the impacts of multiple disasters, including floods in Toronto, Southern Ontario, British Columbia and Quebec; the wildfire in Jasper, Alta.; and a hailstorm in Calgary. Together, .... More »
TFSA contribution room calculator Aug 12th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
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Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like&nb.... More »
Do you have to split your estate evenly between your children? Aug 24th
A will is intended to outline your final wishes. But, sometimes an estate can be contested, and the courts can overturn the terms of a will and distribute the assets differently.
A good example is that of Pascuzzi v. Pascuzzi, a case recently heard by the Supreme Court of British Columbia. .... More »
Home Insurance Increases 2014: Plan to Pay More
– ratesupermarket.ca
Regardless of your claims history, expect to pay more for home insurance this year, thanks largely to the severe weather trend that has battered the country.
Widespread flooding in southern Alberta and Ontario last summer, combined with brutal ice storms across much of the country, produced a record $3.2 billion in claims, according to the Insurance Bureau of Canada.
For many Canadians, that water damage – and the risk it could happen again – is causing steep hikes in premiums, higher deductibles and reduced benefits.
More Premiums Increases Expected
Property and casualty insurers warn that as they’re forced to pay out more to cover such damage, policy holders likely face further increases to premiums.
One reason is that most homeowner policies now include ‘all-risk’ coverage, including guaranteed replacement costs, thus creating an even bigger gap between existing premiums and the cost of covering significant claims.
On average, Canadians pay $852 annually for their home insurance, according to research from InsurEye, a Vancouver company that provides online analysis to help buyers manage their insurance needs…
3 Ways to Save on Rental Cars This Summer
– ratesupermarket.ca
Ahhh, summer driving season – now that the weather is finally in agreeance, many Canadians are taking to the open road for cottages and campgrounds. But road trips aren’t always cost effective – especially with this season’s spiking gas prices. One area to consider for possible savings: should you take your own set of wheels, or rent a car for the trip?
Your car may be well suited to your daily commute or buzzing around town – but you could be at a disadvantage on the long highway haul. Here are a few ways renting a vehicle can help shave costs.
1: Save on Insurance Costs and Maintenance
Driving your own car over long distances results in wear and tear, which ultimately contributes to the devaluation of your vehicle (and will pump up your insurance premiums to boot). A recent study from AAA found the average following maintenance costs per mile for vehicles, assuming 15,000 miles driven per year:
Small sedan: 46.4 cents
Medium sedan: 58.9 cents
Large sedan: 72.2 cents
Assuming you plan to drive 500 miles or more on your road trip, leaving your own car behind will result in savings at your quarterly tune up, and will keep your mileage down come auto insurance renewal time…
How we cut our car insurance bill by 30 per cent: Mayers
– thestar.com
Promised car insurance cuts are on hold because of the Ontario election. That doesn’t mean you can’t find ways to save on your annual bill.
