All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
TD Cash Back Visa Infinite review 2022 + MORE Apr 1st
If you consider yourself a coffee-lover, foodie, traveller—or all of the above—this cash back card might be the perfect for your lifestyle. It offers a strong earn rate on food and travel spends. It also includes perks that offer peace of mind on your daily commutes or big vacations, like compli.... More »
Home insurance guide + MORE Dec 26th
Our guide to home insurance is here to remove the confusion and help you understand what home insurance is, whether you need it, how much it costs, and what it does and doesn’t cover. We break it down in a way that will help you get the best coverage for your home, your valuables and your budget.&.... More »
TFSA contribution room calculator + MORE Aug 28th
TFSA contribution room calculator
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator. Note that in the second box below, you should not “double count” contributions that you have withdrawn and then legitimately re-contributed in the following.... More »
Updating Your Life Insurance Policy Jan 19th
A life insurance policy is instrumental when it comes to protecting your family and providing for them financially in the event that one or both parents pass away.
How much coverage is required depends on many different factors. Simply put, when a person dies , that person’s estate (consisting o.... More »
Every mortgage calculator you will ever need Jun 13th
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 ca.... More »
What DCPD insurance means to you
– moneysense.ca
Direct compensation property damage, or DCPD, has nothing to do with your house and everything to do with your wheels. Part of the no-fault auto insurance system, it is a mandatory component of car policies in Ontario, Quebec, Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island. The bigger question is: What does DCPD do for you?
What is direct compensation property damage?
This is the “phew” type of insurance. DCPD automatically covers your repair bills after an accident, and pays you directly when someone else causes a collision and damages your car. (Not exactly what you want to be dealing with after a car accident that that wasn’t your fault.) Your insurance company will then ask that driver and their insurance provider for reimbursement, so you don’t have to take on that hassle. It kicks in only when an incident happens in a province that has DCPD and it is one part of a basic no-fault auto insurance policy, which also includes the following:
What is direct compensation property damage?
This is the “phew” type of insurance. DCPD automatically covers your repair bills after an accident, and pays you directly when someone else causes a collision and damages your car. (Not exactly what you want to be dealing with after a car accident that that wasn’t your fault.) Your insurance company will then ask that driver and their insurance provider for reimbursement, so you don’t have to take on that hassle. It kicks in only when an incident happens in a province that has DCPD and it is one part of a basic no-fault auto insurance policy, which also includes the following:
Third-party liability insurance covers the damage to a person’s car or property, their medical care and, in the worst-case scenario, their funeral, when you cause an accident…
