On the real estate hunt? Unless you have a million dollars and massive down payment to spare, chances are detached houses are out of reach. It’s a reality facing many buyers, as prices have quickly outpaced income in Canada’s hottest housing markets.
For Torontonians who find the hustle and bustle of the city energizing and equate quaint suburban life to a bore, snatching up a spacious house and yard in the burbs likely isn’t high up on the agenda. A condo apartment conveniently located steps to transit, work and vibrant downtown shopping –
Hundreds of websites on the Internet perpetuate insurance myths. In this article, we have summarized all the insurance myths we are aware of and catalogued them by type, starting with home insurance, followed by auto insurance, life Insurance etc. If interested, you can unlock another 20 additional insurance myths at the end of our article.
One of the questions asked a lot by buyers looking at investment condos for sale in Toronto – typically pre-construction condos – is whether or not they should pay more to buy a unit on a higher floor since many end customers really enjoy great views from higher floors.
First time buyers and transit-leaning Torontonians mulling over the idea of swapping out their rental payments for a monthly mortgage on a condo may be wondering – what can I afford to buy and what is a typical cost per square foot by neighourhood in Toronto?
When it comes to buying a home, your down payment is an integral part of the equation. How much down payment for a house you pay, determines your mortgage payments, how much mortgage insurance you pay (if any), and the amount of equity you have in your home. The larger your down payment,
Though condo insurance is not a very complicated insurance product, there is often more confusion around condo insurance coverage limits since there are several policies involved into condo protection, including:
Commercial Condo Insurance – an insurance policy owned by a condo corporation that typically covers the structure of the building and common areas.
The word “hot” preludes almost every mention of the Toronto housing market, with news headlines reporting on significant spikes in sales figures and prices on a month-to-month basis. Even a superficial glance at the numbers is enough to resoundingly prove how real estate in Canada’s largest metropolis is experiencing a record-breaking streak.
Canada’s household debt is at a record high: it’s expected to rise to 174% this year (it was at 171% at the end of 2015). This means that for every $100 of disposable income, households have debt payment requirements of $171. A recent report from the Parliamentary Budget Officer said that of any other G7 country (leading industrialized countries),
The real estate market in many Canadian cities continues to stay hot, leading many to invest in condos to rent out, and that means a different set of insurance requirements for both the landlord and the tenant. Unlike usual home insurance, there is an additional party involved – the condominium corporation.
Home insurance costs probably represent a considerable part of your insurance budget. It is also an insurance type that you do not want to forget – nobody wants to live without a roof over his/her head. It is not easy, though, to understand if you are overpaying for your current home insurance.
In a market dictated by sharply transitioning seasonal highs-and-lows, savvy house hunters looking to save big on their home purchase would be wise to choose the lull month of January to sign on the dotted line.
That’s according to a new report from our friends from the real estate website TheRedPin.com,
If you want to change your existing insurance or need a home insurance policy for your new home, it is better to be informed in advance about the most complicated insurance claims. That will allow you to ask your insurance company the right questions.
Going through a home insurance claim can be a pain.
Pint-sized bachelor apartments that squeeze residents into a tight 500 square feet (or less) may be the image many Torontonians are inclined to conjure up when they think of the city’s condo market, but after digging a little deeper and looking strictly at the numbers, a real estate website TheRedPin found a slightly different story to tell.
The words “home insurance” is an umbrella term that covers single family homes, condos, cottages, seasonal homes and more. Don’t be fooled. Not all insurance is created equally – especially when it comes to condo owner insurance and single family home insurance. Today we’ll look at seven key differences between these two types of insurance.
Condo insurance is similar to house insurance, but there are some differences that you should be aware of. The main difference is that there are two components of insurance protection for a condo: (1) a commercial condo policy purchased by the condo corporation; and, (2) a personal condo insurance purchased by unit owners.
Your home is the biggest expense you may ever have, but the largest source of potential for increased resale value. We will show you what are the best home renovation option for your home. It can be surprising how many of your dollars will come back to you, if you spend them in the right place.
According to data accumulated by the CREA (the Canadian Real Estate Association), Alberta property prices are on the decline. The average price of a property in Alberta has experienced a slight drop, from $395,552 in July 2014 to $394,977 in July 2015.
Sewer backup coverage is important, however, most homeowner insurance policies don’t cover this type of coverage – which is why you need to find out everything you can about it; particularly if you’re a first time home buyer.
What is Sewer Backup?
Sewer backup is flooding that occurs in your home;
The majority of Canadians will buy a property at some point in their lives. With the housing bubble in Canada continuing to grow, all kinds of home buyers are weighing their options and making decisions.
But who are these people are where do you fit? We’ve listed out the three types of home buyers,
There are numerous home elements that will increase your home insurance cost when searching for insurance. Some are related to the building itself, others to things outside of the house. Are any of these elements found in your house?
We found that many consumers have a solid knowledge how mortgages work but there is more uncertainty around closing costs. That is why we asked our friends at the financial services comparison site RateHub.ca to share with us their insights about closing costs.
Closing costs are all the costs you’ll need to pay for in order to buy a home – and they can add up fast.
If you are getting a new home insurance policy, there are many things that could impact and lower home insurance costs. Today’s blog zooms on this topic and explains, in detail, what could be driving up your rates. These drivers apply both to insurance for a condo and insurance for a house or apartment.
Winter brings many surprises, such as those special gifts under the tree, a red robin peeking through the branches of a snow-laden tree or discovering a passion for snowboarding. It can also bring some unpleasant surprises, such as slipping on ice or having to clear snow off your roof.
Over the years we have shared many tips that have helped consumers to save on their home insurance. Today, we are happy to present our ultimate list that combines the knowledge and experience of several leading home insurance agents and brokers. We grouped the list into several categories. So, let’s start:
Buying a home is exciting but it also comes with a lot of daunting trips to the bank, mountains of paperwork, and talking to realtors and lawyers before you sign the documents for your new home. Just before that purchase is complete, you are likely to hear these encouraging words from your lender:
There are many articles titled “10 ways to save on Home insurance” or “5 Tips to lower your auto insurance costs” etc, but would it not be great to have all those saving tricks and discounts at one place? We created such a list and divided it into two parts: The first one reflects general techniques to lower insurer costs and the second provides you with various saving tips depending on the type of insurance (Home,
Insurance is an essential part of life since it protects our main assets: cars, dwellings, life etc. But how do consumers feel about insurance? What do consumers like and dislike about their insurance providers? How do insurance companies measure up when it comes to service, value, and claims experience?
For most Canadians, their home is their biggest property asset and it clearly needs to be protected through insurance. But are Canadians happy with their home insurance? Canadian company InsurEye Inc. has analyzed customer satisfaction with home insurance across the country and answered the question: “How do Canadians feel about home insurance across Canada?”
The most critical attitude towards home insurance appears to be in Nova Scotia and British Columbia.
In a recent insurance spending study based on Canadian consumer experience, InsurEye found that an average Canadian consumer spends $3,100 annually on insurance (it includes three major insurance types such a Home, Auto and Life insurance but does not include other smaller insurance policies such as e.g.
Independent Canadian company InsurEye conducted a regular consumer satisfaction comparison of home insurance companies based on independent consumer reviews from InsurEye’s Customer Experience tool. Consumer insurance reviews cover most home insurers and their products across the country. This includes reviews of both nationwide insurance providers and regional insurers, such as e.g.
What aspects do consumers appreciate most of all in insurance companies? Each consumer has unique expectations, but overall there are commonalities. InsurEye has conducted a study analyzing over 600 independent consumer reviews to understand what consumers value the most in their insurance providers. The top feature by far is “Fast claim processing”.
A new online, independent, consumer-driven insurance review tool is making its debut today, a Canadian first. The InsurEye Customer Experience is an innovative service that equips Canadians with independent consumer insurance reviews for all main insurance types (Home, Auto, and Life including its derivatives such as Disability Insurance,
Insurance is not considered to be an extremely innovative or exciting industry, and with reason. No one wants to be confronted with unexpected surprises when it comes to our protection. Being conservative in the insurance world is not bad, because less risk is a good thing.
Often home insurance costs are lost within auto insurance numbers as part of a bundled price. Bundled or not, home insurance represents a considerable expense—but just how much? To find out, Canadian company InsurEye completed research on home insurance premiums across Canada. The results show that, on average, Canadians pay $840 annually for their home insurance.
Insurance means a lot of money for consumers, especially if they own several assets (auto insurance, home insurance) and want to protect their loved ones (life insurance). But what exactly does it mean in terms of dollars? Our proprietary research discovered that,
While insurance is not known as an extremely innovative or exciting industry, new technology has created a platform for a number of exciting insurance information technology (IT) services for both consumers and insurance providers. Here we provide an overview of the top 5 innovative IT insurance services.
#1: Pay as You Drive
Pay-as-you-drive insurance calculates premiums according to an individual’s driving profile,
InsurEye Inc. is now live with its new innovative online service for Canadian consumers – Insurance Peer Comparison. This service shows users how their insurance spending compares to their peers. Insurance quotes can vary not just by 20%, but by 200% or more. Knowing what peers pay allows consumers to make informed buying decisions and discover providers with the best prices for their segment.