Ever wonder how auto insurance works? Basically everyone pays into a big pool, and claims are paid out of that pool. The payment you make is called a premium. You pay a premium to your insurance company so that you'll be covered if something bad happens. But because not everyone gets into an accident, or has their car stolen, there are more people paying into the pool than … [Read more...]
Let’s Talk Insurance ~ Private Run vs. Government Run Auto Insurance
IBC, Insurance Bureau of Canada, has been working to make insurance less confusing. Their Time to Talk campaign is all about explaining to people how insurance works and what it means for them, in everyday terms. So as part of their Time to Talk campaign, I'm here today to talk about the difference between private and government run insurance, auto insurance in specific, and … [Read more...]
How Insurance Fraud Hurts Everyone & What You Can Do to Help
The Insurance Bureau of Canada is a national association that represents the insurance companies that give you coverage on your home or car. I've complained for years about how high our insurance rates are, particularly our car insurance, but I've never really thought about the reasons behind it. Reading up on the Insurance Bureau of Canada really put it into perspective for … [Read more...]