How to get lower home insurance Aug 7th

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Watch: Home Insurance in Canada—what’s covered, what’s not, if premiums are rising and more + MORE Oct 11th

Planning your home insurance policy? Wondering if you should add on coverage to your existing coverage? Managing editor Lisa Hannam interviews Morgan Roberts, director of sales at RH Insurance, about what is covered with a typical home insurance policy and what’s not covered, as well as if premium.... More »
 home insurance

What types of insurance do I really need and which can I live without? Oct 7th

Life, disability, critical illness. The world of insurance can be confusing. A financial planner weighs in on the ones you might want to consider..... More »
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Watch: Climate change in Canada and the rising cost of home insurance + MORE Oct 3rd

What does climate change have to do with home insurance? Weather-related insurance claims have gone up in Canada. And that is having an impact on not only weather, but also home insurance premiums. MoneySense’s Managing Editor, Lisa Hannam, explains. Watch: MoneySense – Home Insuran.... More »

The Power of Positivity: a Q&A With Onlia’s Fernand Vartanian Oct 19th

What’s new in the world of insurance? Over the last few years, drivers in Ontario have been eligible for discounts or incentives based on safe driving behaviour. Recent regulatory changes mean that now some providers of pay-as-you-drive policies could increase a customer’s premium if the trac.... More »

Why is condo insurance going up? Sep 12th

Condo insurance increases have been making headlines. In B.C., there’s been a significant jump in premiums that are making condo-living increasingly expensive. According to online condominium data resource Eli Report, B.C. condos are bracing for insurance increases that range from 25% to a who.... More »
Lower home insurance prices are possible, if you’re willing to shop around and you know what factors can affect your premium. Here’s how to get good, cheap home insurance—but not too cheap—to protect what is likely your biggest asset. 
How much does home insurance cost?
The average Canadian household pays $960 per year for home insurance. Individual premiums are based on wide-ranging factors such as a home’s size, type, replacement value, location, age, construction quality, building materials, security features and proximity to a fire hydrant or fire station. Major home insurance companies and independent insurers also consider the value of a home’s contents and how the property is used (say, if you have tenants or operate a business on-site). They also look at aspects related to homeowners themselves, such as age and claims history. 
Your premium will also depend on your level of coverage. Below are the four policy options, from most to least coverage. Note that whichever type you get, valuables like jewellery, furniture, art and sports gear typically have coverage limits, so you may want additional insurance for these…

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