All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
How to find affordable home insurance Jul 11th
Affordable home insurance: Does it even exist? According to Ratehub.ca, an aggregator website, the average Canadian household pays $960 per year, or $80 per month, for home insurance. That’s a lot of money when you consider all the other costs that come with owning and maintaining a home.
.... More »
5 reasons to buy life insurance—right now Aug 20th
If you’re working to improve your financial situation, a few strategies may come to mind: paying down debt, building an emergency fund, investing inside a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP), or putting your money in other savings vehicles. These are all .... More »
Fire insurance claims: When to tell your home insurance provider + MORE Sep 12th
“You don’t have to file a home insurance claim if you have a house fire,” is not something you would expect to hear from insurance experts. But in the wake of the increasing fire-related fatality numbers from the Ontario Fire Marshal, we couldn’t help but ask.
First, the numbers. Between Jan.... More »
How well are you protected if you have a car accident? Rising deductibles mean your insurance company could get more than you Feb 28th
If you’re awarded a pain and suffering payment of less than $44,000 in Ontario, the money goes to your insurance company and you get nothing. But there are things you can do to protect yourself..... More »
Term vs. whole life insurance: Which type of policy is best? Jul 2nd
Term or whole life insurance? That is the question. But we have two more questions: What is the difference between these two types of policy? And which one is best for your needs?
Generally speaking, term life insurance is best for those seeking a low-cost, short-term solution. Whole life insuran.... More »
33 Percent of Canadians File Travel Health Claims: Study
– ratesupermarket.ca
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…
Which Cities Have Cheap Auto Insurance?
– ratesupermarket.ca
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…
