What does it mean to be house poor?

This article has been updated from a previous version.  

Home insurance isn't mandatory but here's why we highly recommend it

Unlike auto insurance, home insurance is an optional product. But it could save you from liability.

How do insurance providers treat couples who are living apart together?

How to get a better rate when you renew your mortgage

How to get a better rate when you renew your mortgage

Before accepting your current mortgage lender's offer to renew your loan, shop around. You might be able to negotiate a better rate or conditions. Here's everything you need to know.

This article has been updated from a previous version. 

When it's time to renew your mortgage, do you blindly accept the first offer from your existing mortgage lender? Banks know that most homeowners won’t bother negotiating or switching lenders because they don’t want to risk not qualifying for the stress test again. As a result, you likely won’t see a discounted rate when your mortgage comes up for renewal.  

About the author

Robb Engen

Robb Engen balances a full-time job with a host of side-projects and a busy young family. He co-founded the personal finance blog Boomer & Echo in 2010, and started Rewards Cards Canada in 2011. He is also a freelance writer for the Toronto Star. Robb is currently on the path to CFP certification and last year launched his own independent fee-only financial planning service.

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Your mortgage is up for renewal, but you’ve just lost your job. What now?

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Why your home insurance rate may rise even if you’ve never made a claim

Owning a home is an expensive proposition in most of Canada. That’s why it’s important to look for savings where you can. One area where you have more choice is when you purchase home insurance.  

What to do if your mortgage loan application is denied

What to do if your mortgage loan application is denied

A denial isn’t necessarily a dead end. Consider it more of a hurdle. With some careful planning, you can ensure that you have the necessary funding to buy your new home.

This article has been updated from a previous version.

You’ve been scanning the real estate market every day. You’ve already decided what colour you’ll paint your new living room. You are ready to buy a new home. But there’s one thing that can stop you from getting a home and put your ownership fantasies out of reach: a mortgage loan denial. 

About the author

H.G. Watson

H.G. Watson is a writer based in Toronto. Her work has appeared in Chatelaine, Vice, Flare, Maisonneuve, The Walrus and more. You can find her at @hg_watson on Twitter.

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Historical mortgage rates: Averages and trends from the 1970s to 2024

From ultra-high rates in the early 1980s to the record lows Canada saw during the pandemic, interest rates are always in... Read more

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How to switch car insurance providers

How to switch car insurance providers

While it may seem daunting to switch car insurance providers, it is a great way to regain some control over rising rates. Here's everything you need to know about how to change car insurance companies and ensure it’s a smooth transition.

This article has been updated from a previous version. 

About the author

Caitlin McCormack

Caitlin McCormack is a writer based in Toronto. Her work has appeared in MSN, Food Network, HuffPost, What to Expect, Today's Parent, and Mashable, among others. When she isn't writing, she's busy chasing after her two sons, testing out new recipes, and working on her century-old fixer-upper.

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Toronto Tenant Insurance

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Toronto tenant insurance 

Tenant insurance, also sometimes referred to as renter’s insurance, is a type of property insurance designed for someone who is renting a property, whether an apartment, duplex, or house.  

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*Shoppers in Ontario who obtained a tenant insurance quote on LowestRates.ca from January to December 2023 saved an average of 33% The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes home and condo insurance.

How expensive is it to insure one of Canada's top 10 most stolen vehicles?

How expensive is it to insure one of Canada's top 10 most stolen vehicles?

Theft risk is one of many factors insurance providers consider when they set your premium. Find out how Canada's top 10 most-stolen vehicles stack up when it comes to the cost of insurance.

This article is updated annually. As a result, stolen vehicle rankings may change according to the most recent data available. 

Every year, Équité Association releases a list of the top 10 stolen vehicles in Canada.

To compile the list, actual theft claims data licensed by the Insurance Bureau of Canada (IBC) is collected from almost every car insurance company in the country.

About the authors

Lisa Coxon

Lisa is a senior editor in the personal finance space. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies. 

Michelle Bates

Michelle Bates is an editor/writer in the personal finance space with seven years of experience. Her work has also been featured in news sources like the Financial Post, the Globe and Mail, CTV News, and Narcity. In her spare time, Michelle enjoys thrifting home decor, attending live shows, and playing with her Yorkie/Shih Tzu, Freddie, at the park.

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Inflation got you down? Reduce your home and auto insurance costs with a bundling discount

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