All about Canadian insurance. Learn the ins and outs and get the latest news.
When it comes to purchasing car insurance, going for the cheapest rate can be tempting in order to save money. After all, rates are already high enough as it is. But you might be surprised what basic things aren’t always included in a base rate. As per Canadian laws, the most basic plans gene.... More »
Life gets busy sometimes. It’s not surprising you might forget to pay your insurance premium. But what does that mean for your coverage? Some insurance is optional, but some — like auto — is mandatory. So, the last thing you want is a cancelled policy. Thankfully, you might not ne.... More »
For the last decade or so, Jim and Willina Collins have enjoyed a regular bonus by using their no-fee cash-back credit card to pay for many of their expenses, including holiday flight and accommodation bookings, gasoline, vehicle repairs, and insurance on their vehicles (the couple have a car and a .... More »
If your children live at home and will drive your car, even occasionally, your insurance company will consider them “occasional drivers” and will add them to your auto insurance policy. The rule also applies to others living in your household, including relatives and roommates. When sho.... More »
The First-Time Home Buyer Incentive (FTHBI) will officially begin on Monday, September 2. The program was initially announced during the Federal Government’s budget launch in March. The down payment assistance program will be administered by the Canada Mortgage and Housing Corporation (CMHC), and.... More »
Shopping in New York or Italy on holiday. Summer vacation to Mexico or Cuba. If you imagine where you want to travel overseas, there are so many great destinations to choose from. But, the concern is that some Canadians are underinsured when they travel. An RBC insurance survey found that over 33 percent of people in Canada have had to file insurance claims for visits to a doctor while overseas. And, that’s concerning.
Travel While Exciting, Comes Packed with Safety Concerns
Norovirus is prevalent on cruise ships. It’s unsafe to drink tap water in parts of the Bahamas, Russia, Mexico, Brazil and China. The Centers for Disease Control (CDC) reported that public swimming pools in the U.S. may contain fecal matter. And, some parts of the U.S. may have swim advisories for oceans and lakes due to the presence of bacteria like Vibrio or red tide which is a toxic algal bloom. Hence, a sudden sickness can adversely affect your travel plans.
“Travel is a wonderful, educational experience and it’s great to see that Canadians are exploring the world outside their own province or country so frequently…
Are you looking for cheap auto insurance in Ontario? Ontario has some of the highest insurance rates in Canada. The average insurance premium in Ontario is estimated at $1,473. According to the Kanetix.ca Insuramap tool, in Brampton, drivers pay about $2,494 and in Toronto it’s $1,948. These figures exceed the average by $500 to $1,000. With over six million residents in Toronto, depending on where you live in the greater Toronto area (GTA), factors like traffic and congestion account for the higher premiums. But, it is possible to find cheap auto insurance coverage.
Where to Find Cheap Car Insurance in Ontario
Every quarter, insurers can request to have their rates raised or lowered. It was the Financial Services Commission of Ontario (FSCO) until June, but insurance pricing is now regulated by the Financial Services Regulatory Authority of Ontario (FSRA).
They can approve and deny all of the requests that insurers have. For the most part, rate increases might occur because of higher payouts due to increased car accident claims in larger cities…