There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
Why your home insurance rates are rising Dec 14th
At first glance, James Arnold looks like an insurance company’s dream client. The Richmond, B.C., resident has owned his current home for more than two decades, has been with the same insurance company for almost 20 years, and in all those years had never made a claim. At least, not until recently.... More »
Does driving school lower insurance for Canadian drivers? Nov 16th
When you’re a new driver, insurance companies view you as being at higher risk of accidents than someone who’s been on the road for several decades. The risk of collision is highest within the first year a driver is on the road, and it decreases as drivers gain more experience. As a result, new .... More »
TFSA contribution room calculator Nov 20th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
TFSA 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 exchange-traded funds .... More »
What it’s like to work with a financial advisor Apr 5th
If you’re like many Canadians, you’re probably weighing working with a financial advisor. Maybe you’ve just gotten married, started a business, expanded your family or come into an inheritance, or you’re planning your financial future as you approach retirement.
A financial advisor can be.... More »
How annuities work in Canada + MORE Jul 19th
Annuities are life insurance products that pay a regular income to a purchaser. When you buy an annuity, it’s like buying a pension plan with a lump sum premium paid from your savings. The payments you receive include a return of your original capital and interest income on that capital. It ma.... More »
Uninsured auto insurance 101: What you need to know
– moneysense.ca
Uninsured motorist coverage is used to protect you if you’re involved in an accident with someone who does not have valid insurance, or even if you’re left behind in a hit-and-run scenario.
We know what you’re thinking: Isn’t every vehicle required to have insurance in Canada?
Yes, but the bad news is not everyone follows the rules. It’s estimated that there are more than 2,000 uninsured vehicles on the road in Ontario alone. If you’re unfortunate enough to be involved in a collision with the driver of one of those vehicles, you can imagine the headache. (Learn more about third-party auto insurance, too.)
The good news is that you won’t be left high and dry, since uninsured auto coverage is a mandatory part of your auto insurance policy. Even the most basic policy has your back. “If you have a basic policy, you’re going to be covered,” says Pete Karageorgos, the director of consumer and industry relations at the Insurance Bureau of Canada.
What is covered by uninsured auto?
Uninsured auto coverage provides up to $200,000 for damage to property and injuries that otherwise would have been legally recovered from the other driver’s insurance policy…
We know what you’re thinking: Isn’t every vehicle required to have insurance in Canada?
Yes, but the bad news is not everyone follows the rules. It’s estimated that there are more than 2,000 uninsured vehicles on the road in Ontario alone. If you’re unfortunate enough to be involved in a collision with the driver of one of those vehicles, you can imagine the headache. (Learn more about third-party auto insurance, too.)
The good news is that you won’t be left high and dry, since uninsured auto coverage is a mandatory part of your auto insurance policy. Even the most basic policy has your back. “If you have a basic policy, you’re going to be covered,” says Pete Karageorgos, the director of consumer and industry relations at the Insurance Bureau of Canada.
What is covered by uninsured auto?
Uninsured auto coverage provides up to $200,000 for damage to property and injuries that otherwise would have been legally recovered from the other driver’s insurance policy…
