All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
What is a cashable GIC? + MORE Dec 23rd
Canadian investors have been struggling with high inflation for a couple of years now. In an attempt to cool inflation down, the Bank of Canada (BoC) continues to keep interest rates high. As a result, the interest rates available for guaranteed investment certificates (GICs) look to be pretty attra.... More »
What is CDIC insurance, how it works and what’s covered Oct 30th
Toilet paper isn’t the only thing Canadians were hoarding early in the pandemic. Headlines were buzzing that the Bank of Canada was running short of $50 bills too. Whether you were stuffing cash in your mattress or in the bottom of your sock drawer, the truth is your savings are safer at a financi.... More »
Why is auto insurance so expensive in Alberta? Dec 7th
Auto insurance in Alberta has been in the news recently with Premier Danielle Smith’s announcement that insurance rate premium hikes for “good drivers” will be capped at 3.7% as of January 1, 2024. The government chose this percentage to match Alberta’s inflation rate in September 2023, the .... More »
Climate Change Is Influencing How Young People Invest Their Money Jul 11th
The climate crisis and its effects are front of mind for many Canadians. A recent Ipsos study found that 73 per cent of Canadians believe the world is headed towards environmental disaster, unless there’s an effective transition away from fossil fuels and a significant reduction in greenhouse gas .... More »
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 »
So You Got Caught: How a DUI Will Affect Your Auto Insurance
– ratesupermarket.ca
If you’ve been convicted of impaired driving in Canada or were caught driving with a blood alcohol level greater than .08, you are probably wondering what to expect from your auto insurance company. You likely have a Canada-wide restriction on driving and face a steep fine or jail time. You may have your vehicle impounded and be required to attend treatment.
With a DUI conviction, you will have a criminal record. You may find it difficult to get a job as this conviction will show up in a police background check that a potential employer might run. When it’s time to move, you’ll learn that landlords can decide not to rent to you based on your DUI conviction.
DUI and your auto insurance in Canada
Most insurance companies will terminate your policy. You will have to obtain auto insurance through a high risk market at a significantly higher premium.
A well-informed insurance professional can help you find an auto insurance company that will cover you. Get quotes from multiple companies so you can get the lowest rate…
