Insurance woes

Insurance companies cut back on water damage coverage, how to hunt for real estate bargains in Toronto and more.

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  • At least one insurance company is raising rates in the wake of severe summer weather in Canada. TD Meloche Monnex will lower the basic coverage for the sewer backup coverage from $50,000 to $15,000 while the premium will rise from $129 to $138, according to reports. The changes affect renewals only and come after devastating floods in Calgary and surrounding area in June and July as well as a flash flood that caught Toronto offgaurd soon after flooding basements and cutting power to thousands of homes.
  • Looking for a real estate bargain in Toronto and surrounding area? Check out this heat map of Toronto housing prices. The cool blue areas are where houses and condos are selling cheapest.
  • We talk a lot about, err, money here at MoneySense. Rarely however do we talk about cash and how best to carry it. Gone are the days of chunky wallets. Here are 10 super slim wallets for the stylish man.

One comment on “Insurance woes

  1. Honestly I don't get insurance. They collect all this money from consumers, invest it and make more money, payout very little compared to what they collect and yet the consumers end up paying for increases across the board… This seems like organized legalized robbery to me.

    Reply

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