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

How to go about securing the best policy for your insurance in Canada.
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 renter's insurance

Canada’s best credit cards 2023 Jan 7th

Spend Best credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Let’s get started Yo.... More »

“I discovered water damage in my home. Will insurance cover me?” Sep 1st

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 Does home insurance cover water damage? The end result of water damage to your home is a.... More »

6 times when a GIC is a smart investment choice + MORE Mar 13th

A guaranteed investment certificate (GIC) may seem like your grandfather’s kind of savings product. After all, his generation was fond of similar investment tools, like government savings bonds and treasury bills, and benefited from periods where interest rates were high enough to make these low-r.... More »

How to stake Cardano (ADA) in Canada + MORE Jun 12th

Like other cryptocurrencies, ADA, the native coin of the Cardano blockchain, has been in a bear market since October 2021—meaning a recent pattern of price declines. Despite this downturn in crypto prices, Cardano seems to be a strong player among the public blockchains that offer smart contract f.... 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 »
Third-party liability insurance is like other mandatory insurance coverages in Canada—easy to forget about on ordinary days. It’s when things go unexpectedly wrong that we’re thankful for the coverage that insurance provides.

Driving accidents often occur in the blink of an eye, and they can happen to anyone, even the most experienced and careful drivers. The worst-case scenarios, in which another driver is seriously injured or killed, can lead to prolonged legal battles involving a lot of back-and-forth with insurance companies. That’s why third-party liability coverage is such an important element of auto insurance policies.

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What does third-party liability mean? 

In Canada, liability basically means that an individual or a business can be held responsible for an action in the eyes of the law…

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I paid $3,000 for wisdom teeth removal, and my employer only reimbursed $2,000. I’ve heard that any taxpayer who paid medical costs for themselves, a spouse, and/or dependents is eligible, as long as they were not reimbursed for the amounts by their insurance, an employer or any other source. Can I claim the $1,000 that I paid out of pocket on my taxes? —Houssein

Can you claim wisdom teeth removal on your taxes? 

Eligible medical expenses may qualify for a tax credit on your tax return. The medical expense tax credit is generally a non-refundable federal and provincial/territorial tax credit that is used to reduce your tax payable. 

You can claim medical expenses for which you were not reimbursed by an insurance plan (or by way of any other tax-free reimbursement) on your taxes. If these medical expenses were paid by you (or your spouse/common law partner) for either of you or for your children you should be able to claim them. (Note: This only applies if the children were under the age of 18 at the end of the tax year…

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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 or someone in your household has decided to get their driver’s licence, here’s what you or your loved-one can expect to pay for coverage. 

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How much does car insurance cost for a new driver? 

Many factors influence a new driver’s insurance premiums. Some of the main considerations include:

The driver’s profile: Demographic factors like age and gender influence premiums. Drivers under the age of 25 tend to pay higher premiums, because data from insurance companies suggests a lack of experience increases the risk of accidents…

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