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
What is tenant insurance? Jul 30th
Tenant insurance, also known as renters or content insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $50 a month) is a small price to pay when you consid.... 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 »
6 times when a GIC is a smart investment choice + MORE Mar 13th
A guaranteed investment certificate (GIC) may seem like your grandfather’s kind of savings product. After all, his generation was fond of similar investment tools, like government savings bonds and treasury bills, and benefited from periods where interest rates were high enough to make these low-r.... More »
Unique ideas for your last will and testament + MORE Dec 1st
When you write a will, it is your opportunity to ensure your final financial and other wishes are carried out by your executors. given how many people have no will at all, I am happy to see technology is making it easier to prepare and sign a will without having to leave home. But there are circumst.... 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 »
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…
