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
Only answer to rising home insurance rate increases is to shop around May 23rd
Rapidly rising rates for home insurance frustrate consumers, but there’s nothing to be done about it except to shop around, experts advise..... More »
National Bank of Canada World Elite Mastercard review Oct 31st
National Bank’s World Elite Mastercard has long earned accolades for its included insurance, robust points program and unique and valuable perks, making it a solid choice as a travel card. With the fall 2022 restructuring of its rewards program and other adjustments affecting insurance and the rei.... More »
Want to save money as a renter? Don’t cheap out on these 5 things Jan 3rd
Whether you’re building your savings account or getting a rush from buying items on sale, there’s something deeply satisfying about saving money.
But determining when saving is truly worth it is an important part of managing your money. While some deals do save you cash upfront, you mig.... More »
How to save on home insurance + MORE Jul 10th
Affordable home insurance: Does it even exist? While home insurance is not mandatory by law, like auto insurance is, most mortgage lenders require it—and for good reason. Home insurance protects your home and personal possessions from damage or loss. Your home is collateral for your mortgage loa.... More »
Life Insurance Rates and Health Conditions Apr 9th
Most life insurance plans are medically underwritten, which means that the insurance company has an underwriter look at your medical history (as well as conducting an interview with a medical practitioner) to evaluate your overall health condition. This evaluation determines what health class an ap.... More »
Third-party liability insurance is mandatory coverage for all drivers in Canada. It offers protection for drivers if they’re at fault in an accident and the other party is hurt or even killed. This is mandated at a provincial level, and all provinces require a minimum of $200,000 in third-party insurance coverage, except for Quebec, where the minimum is $50,000. Many Canadians set their policy default between $1 million and $5 million.
There are a variety of reasons people increase their minimum third-party car insurance coverage, including if you frequently carpool, use your vehicle for commercial purposes, live in a metropolitan centre, or regularly cross the Canada-U.S. border in your vehicle. Experts recommend considering a default of $1 million or $2 million in the situation where your damage is likely to exceed the provincially mandated minimums.
What is third-party liability insurance?
In Canada, third-party insurance coverage ultimately aims to protect you if you’re involved in an accident where you may be at fault or liable to pay for property damages, third-party injury, or even death…
There are a variety of reasons people increase their minimum third-party car insurance coverage, including if you frequently carpool, use your vehicle for commercial purposes, live in a metropolitan centre, or regularly cross the Canada-U.S. border in your vehicle. Experts recommend considering a default of $1 million or $2 million in the situation where your damage is likely to exceed the provincially mandated minimums.
What is third-party liability insurance?
In Canada, third-party insurance coverage ultimately aims to protect you if you’re involved in an accident where you may be at fault or liable to pay for property damages, third-party injury, or even death…
