How to go about securing the best policy for your insurance in Canada.
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SimplyCash Preferred card from American Express review Jan 16th
If you’re looking for a card that will help you earn cash back on purchases, look no further than the SimplyCash Preferred Card from American Express. With a return of 4% cash back on gas and grocery purchases—and a flat 2% back on all other purchases—it is one of the best credit cards in Can.... More »
Rising rates are good news for near-retirees seeking longevity insurance + MORE Jun 29th
For years, low interest rates have been a boon to borrowers but a curse to older investors wanting low-risk interest income options. Now, after a decade of minuscule rates, interest rates are starting to inch back up again: another 0.5% as of June 1st. That’s good for GIC investors (guaranteed inv.... More »
Yes, your auto insurance company can drop you. Here’s how to protect yourself against worst-case scenarios Feb 8th
A 74-year-old Brampton retiree was dumped by her insurance company after she was in two accidents, even though she says one wasn’t her fault..... 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 »
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 »
Will the average home insurance cost go up because of COVID-19?
– moneysense.ca
What does home insurance have to do with the pandemic? Canadians have been spending more time at home as a result of the COVID-19 pandemic, and that’s a good thing–we’re all trying to stop the spread of the coronavirus and get back to life as we knew it. However, all of that extra time in our houses has led to an unexpected consequence for some families.
The Ontario Fire Marshal reports that between January 1 and May 4, 2020, there were 51 fire-related fatalities in Ontario—a 65% increase in comparison to the same timeframe last year. While there were a variety of factors behind these incidents, unattended cooking is a leading cause of residential fires. With restaurants feeling the negative effects of the pandemic, and more people working remotely or out of work due to the pandemic, cooking at home (while working and/or watching the kids) could be a reason for the increase.
The above is a troubling statistic for a number of reasons, most notably the tragic loss of life. From a financial perspective, this increase in residential fires may have some wondering if home insurance rates might go up in an already challenging time…
The Ontario Fire Marshal reports that between January 1 and May 4, 2020, there were 51 fire-related fatalities in Ontario—a 65% increase in comparison to the same timeframe last year. While there were a variety of factors behind these incidents, unattended cooking is a leading cause of residential fires. With restaurants feeling the negative effects of the pandemic, and more people working remotely or out of work due to the pandemic, cooking at home (while working and/or watching the kids) could be a reason for the increase.
The above is a troubling statistic for a number of reasons, most notably the tragic loss of life. From a financial perspective, this increase in residential fires may have some wondering if home insurance rates might go up in an already challenging time…
