How a recent car accident opened my eyes

CAR CRASHES CHANGE YOUR LIFE   I was reading statistics on car accidents recently that says most drivers will be involved in at least 2 car accidents throughout their lifetime.   At the age of 31 I now fall into this statistic, being involved in my second car accident just a couple weeks ago now. I am hoping it will be the last. Being an experienced driver with over 14 years on the road neither of the car accidents I was involved in was I behind the wheel. I was the passenger both times and that has changed the way I feel about being a passenger. Read on. My first car crash was when I was 15 and was unavoidable. What happened was that some local livestock got loose from a farm and the dark country roads made for a crummy ending to my mother’s and my day. The most recent car accident I was involved in could have been avoided and was caused due to inexperience and panicking due to poor road conditions. Both car accidents have left me a cautious driver behind the wheel but the lack of control being a passenger in a vehicle has left me […]

Reader Question: Do I need a tenants insurance policy when I rent?

It Pays To Do Your Research When You Rent   A reader question about tenants insurance and whether you need it or not if you are a renter is a great question especially for those of you who are still not insured. The most important tip I would give is to read the terms and conditions before you agree to anything. One thing many of us do is sign on the dotted line or agree to a policy without reading it in full until it comes time that you might need it and find out you’re not covered. Dear Mr.CBB I’m moving out of my parents house for the first time into my apartment and was wondering if you could answer a question for me please. Do I need a tenants insurance policy when I rent? Thanks for any help you can give me. SG Dear SG, The easy answer is, Yes. Any time you rent an apartment, condo, town-house or house you need tenants insurance also called Renters Insurance. No matter what you think, you need it and don’t ignore the value of a cost-effective insurance policy. According to Insurance In Canada, Many Canadians 35 and under don’t have tenants insurance. When […]

How Smoking Affected The Cost Of Our Life Insurance Premium

We all know the health risks of smoking followed by the dent it can put in the budget just to buy cigarettes. Did you also know that it costs smokers more money when they apply for life insurance, like it did for us? Who knew there would be such a significant cost difference for life insurance for a smoker and non smoker as you will later find out. It’s been over a year now that we butted out (January 29, 2102) and are both still smoke-free today. We will always give thanks to all the support along the way from not only each other but external motivation such as family, friends, our family doctor, the pharmacy team and of course The Smokers Helpline. The Smoking Memory As time went on smoking became less of a habit for us and more of a memory and now we don’t even think about it. We won’t lie and say that if someone sparks up a smoke that the smell is captivating because it still is. We smoked for quite a long time and every smoker knows that the first inhale is the best of a newly lit cigarette. When I’m at work it no longer bothers […]

12 Ways to Save Big Money on Car Insurance

GET THE BEST INSURANCE PREMIUM    Do you see a lot of car insurance ads on tv? Do you get confused wondering if you are getting the best rate for your vehicle?  My husband says there must be a lot of money in car insurance for the insurance companies to keep putting out so many ads. Car insurance is one expense that many people pay more for than they need to. What would it take for you to change your car insurance company? Would you make a change if you could save several hundred dollars a year?  It is definitely worth your time to look into car insurance companies to get different quotes.   Car Insurance Canada   Where should you start looking for a Car Insurance Company? You can get free insurance quotes for the price of a phone call or search on the internet. Start your list with a basic search for car insurance on Kanetix where you can compare insurance quotes. Ask your friends, family, and co-workers if they are happy with their car insurance company and agent. Local agents can be very helpful if you have to make a claim and certainly don’t mind referrals. I’d say to compare a minimum of 3 companies with your […]

Understanding Mortgage Insurances

There are a number of misconceptions in the world of mortgages when it comes to the word “insurance” let’s cover the various meanings off.  High Ratio Insurance: Also known as CMHC, mortgage default insurance, Portfolio Insurance In Canada, all Banks must have this insurance on any mortgage they lend on with less than 20% down payment.  It is a one-time premium paid by the borrower (normally included into the mortgage)to the insurance company that insures the lender if the borrower ever defaults on the mortgage, the lender gets all of their money back. Three companies in Canada offer this insurance, CMHC which is owned by the Government, as well as Genworth and Canada Guaranty.  CMHC insurance is backed 100% by the Canadian Government, the other two are 95% backed by the Government.  This has been a source of discussion recently as CMHC has neared it’s legal insurable portfolio limit of $600 billion in mortgages. If your mortgage is insured, what does that mean for you?  Very little unfortunately…the benefit is to the lender, though as long as you pay your mortgage, that insurance will never need to be used.  The one benefit to having a insured mortgage is that it […]

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