How much does it cost to insure an electric car? + MORE Mar 20th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
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 renter's insurance

Mortgage insurance calculator Jun 4th

CMHC insurance calculator If you’re buying a home and have a down payment of less than 20%, you’ll need to purchase mortgage default insurance, also known as mortgage loan insurance or CMHC mortgage insurance (named after the Canada Mortgage and Housing Corporation, one of the three mort.... More »
 commercial insurance

Canada’s Best Visa Credit Cards 2022 Apr 13th

When consumers shop for a new credit card, they typically look at the ability to collect points, the insurance coverage offered, fees and interest rates on unpaid balances—not at the credit card company itself. But if you already have an account with RBC, CIBC, Scotiabank or any other Visa issuers.... More »

How much is insurance for a new driver? + MORE Mar 24th

You might believe that all you need to do to hit the open road is pass your driver’s test and put your keys in the ignition, right? Wrong. All drivers in Canada, including new ones, must also obtain auto insurance before they can legally drive. So, how much is insurance for a new driver? If you o.... More »
 online insurance

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 »
 travel insurance

Canada’s best credit cards for travel insurance 2022 May 19th

If you’re planning to travel this summer, you’ll need travel insurance if you plan to go out of province. These days, many of the credit cards available include some kind of travel insurance. While that’s a great selling feature for these cards, savvy Canadians know that not all insurance is c.... More »
Electric vehicles (EVs) are quickly zipping into the hearts and driveways of motorists across Canada, so you might be asking yourself how much it costs to insure one. While EVs remain fairly expensive to purchase compared to traditional gasoline- or diesel-powered vehicles, they offer some unique advantages to drivers who can afford them: EVs require far less maintenance than fossil fuel vehicles, they can recharge at home and they’re even less prone to rolling over during crashes.

Despite these differences, insuring an EV isn’t radically different from insuring a fossil fuel vehicle, but there are some special considerations drivers should be aware of before going electric. 

What kind of coverage do I need for an electric car?

EV auto insurance isn’t any different than insurance for a vehicle with an internal combustion engine. Both are subject to the same mandatory insurance coverages. 

In every Canadian province and territory, auto insurance policies include third-party liability to cover potential lawsuits against you for injuring or killing someone in a crash, as well as uninsured auto coverage to pay for damage caused by an uninsured driver…

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Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for mortgage payments, property taxes, insurance premiums, utilities and maintenance.

To get a clear picture of how a home purchase impacts your finances, you’ll need to determine how much you can afford on a mortgage and how much you can spend in total on a home, as well as how these factors affect your overall housing costs. Fortunately, mortgage calculators let you model this information, helping you make sound financial decisions about what will likely be the most important purchase of your life.

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quoteI’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.

Why should you use a mortgage calculator? 

You wouldn’t buy a car without knowing what it would cost you on a monthly basis, and you shouldn’t buy a home without an accurate idea of how it will impact your finances, either…

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