Tag Archives: Home Insurance

Canadians Paying More Insurance Premiums That Most Developed Nations

Canadian consumers and businesses pay more than $80 billion a year in property & casualty insurance premiums with an upward trend consistently in excess of our anemic GDP growth rate. The total cost is now more than 3 percent of GDP. … But how does Canada benchmark relative to its global peers?

• Canadians pay higher premiums for property and casualty insurance than citizens in many, if not most, other developed nations. This Commentary uses OECD data and private industry data to compare the national P&C insurance sector’s premiums as a percentage of Gross Domestic Product with its international peers and is an update of the findings of the author’s 2021 edition of this report.

• The Commentary focuses on liability, property and auto insurance to compare costs across nations. Then, it takes a deeper dive into the Canadian data to compare personal property and auto insurance among all provinces and territories.

When it comes to costs for property insurance, the study finds Canada is in the top ranks, paying 1.23 percent of GDP in premiums, almost double the 0.66 percent average of other G7 peers and even higher than the 0.52 percent OECD average. For automobile insurance (which here includes both personal and commercial), Canadians appear to be paying, on average, the highest premiums in the world, relative to GDP.

• Within Canada, inter-provincial benchmarking for personal property insurance shows the higher average premiums paid in Canada – relative to the rest of the developed world – appear to be shared equally by most provinces. However, province-by-province comparisons of personal auto insurance show that there are substantial differences among provinces, with four jurisdictions producing higher-than-average results. Two of the four (Saskatchewan and Manitoba) are government-monopoly jurisdictions – in fact, these are the two highest in terms of costs. The two other outliers (Ontario and Alberta) are served by a competitive private sector, but Alberta has chosen until very recently to maintain a costly tort environment and Ontario mandates particularly generous accident benefits and has experienced a plague of auto theft.

• In the case of automobile insurance, just a handful of provinces need to think harder about how to improve car insurance premiums. But to reduce the cost of living for homeowners, the solutions required must be national in scope and include public/private partnerships to share the rapidly increasing risk-transfer price of natural catastrophe events.

Read the full article by Alister Campbell via this PDF.

Little Known Facts About Modern Sewer Repair Technologies

When dealing with damage to your house or municipal sewage system, you may have numerous concerns regarding your repair choices and preventive actions you may take to avoid future damage. Going through your repair choices and acting against sewage damage may be a lot easier with expert assistance.

Any pipe repair expert like pomplumbing.ca will tell you that there are methods available that offer long-lasting, reliable repairs without causing damage to your property or interfering with municipal traffic. We have taken the first of these repair measures for you in this article by presenting some little-known facts regarding contemporary sewage repair. 

1.) Modern Line Replacement is Extremely Effective

When we speak with homeowners about broken water lines or other severe plumbing problems that may arise under a number of conditions, we often discover that they are astonished to learn that repairs can be finished in only one day. What makes this possible?

By removing the need for significant work and physical digging, trenchless technologies enable plumbing experts to replace whole water lines in a matter of hours. Using sophisticated underground procedures, these experts can completely replace your water line pipes in a fraction of the time that conventional methods need. 

2.) Trenchless Alternatives Maintain Your Lawn

Trenchless experts may patch in or repair underground portions of broken pipe without digging the pipe out using epoxy Perma-liner solutions. The experts construct tiny, non-intrusive entrance ports and line these solutions along the walls of existing pipes using air pressure.

Specialists then cure the pipe to the interior walls using a long air bladder, resulting in a fully repaired pipe in a matter of hours. This avoids the need for costly pipe digging, or “trenching,” while still delivering high-quality water line replacements.

3.) Water Line Replacement Is Affordably Priced For Any Budget

The absence of digging, the smooth installation procedure, and the minimal overhead expenses all add up to one major advantage for homeowners: substantial savings. Trenchless line replacement makes sense not just from a practical perspective, but also from a budgetary one.

The effectiveness of trenchless replacement leads to significant savings in labor expenses, just as minimum grass digging reduces the need for costly landscaping. Trenchless restorations make sense in both the short and long term since the new pipe sections will last at least 50 years. 

Burst Pipes Causing Flood and Water Damage: The Facts – ServiceMaster of  Lethbridge

4.) A burst pipe may cause an existing water line to expand.

Pipe bursting, a water line replacement method, may potentially enhance the flow and efficiency of your current water lines. A replacement pipe is attached to a pointed bursting head and fed through badly damaged pipe sections in this manner. The bursting head actually bursts through the existing pipe, clearing the material away with its expanding, conical form.

This method clears the way for the larger (and more efficient) replacement pipe. It is a “two birds with one stone” line replacement method that addresses a broken pipe emergency while also improving general performance for decades to come.

5.) Trenchless Replacement is more secure than the alternative

Because trenchless water line replacements remove the need for significant digging, workers are less likely to uncover dangerous subterranean gasses, guaranteeing the safety of both the workers and your family.

Subterranean mold and asbestos are always a significant worry when it comes to trenching replacement techniques. Fortunately, with trenchless treatments, the worry of inadvertently coming across a hazardous mold concentration is a thing of the past. 

6.) Unrivaled Lifespan of Trenchless Water Lines

One of the most important things homeowners should know about trenchless water line replacement, as we said briefly earlier in this article, is how long the improvements can be anticipated to endure. While you may believe that Perma-liner, PVC replacement options are less dependable than other materials, this is a clear misunderstanding.

Homeowners should anticipate their new pipes to endure at least 50 years, if not much longer. Not only are these new pipes simple to install, but they also provide the peace of mind that homeowners want in their plumbing. 

How to Deal With Burst Water Pipes

7.) These Solutions Are Capable of Repairing Any Type of Damage

Before replacing your water line, trenchless plumbing experts will inspect it using snaking video technology to determine the amount and kind of damage. However, this is not the expert deciding whether or not they can repair your pipe; rather, it is for assessment reasons.

In fact, trenchless methods may repair damage from any cause or kind of damage. Trenchless replacements may address your line repair requirements whether they are caused by corrosion, root incursion, shifting soil, or fracture. 

8.) Trenchless technologies shield you against larger, more costly repairs.

Many people underestimate the usefulness of trenchless repair techniques as preventive measures when dealing with water line problems. The sooner you act, like with any other kind of house damage and repair job, the better.

Responding promptly to water line damage and finding creative trenchless repairs early on may save you from far more costly and extensive upgrades later on. When homeowners take action and treat their water line issues seriously, they will be able to obtain the repairs they need at much more suitable and inexpensive times. For the Silo, John Brooks.

Portable Motion Activated Camera Replaces Peep Holes

MAC200 Home Security Camera Time LapseThe PHV MAC is an ‘electronic peephole’ for your home security that takes images of anyone or anything that is out front.

Its ambient light sensor allows images to be taken up to 30 inches from the door. This battery-powered device features an LCD screen on the inside of the door to display the photos, which stores still shots as well as video on a Micro SD card and includes dates and times of when the sensor was activated. The batteries inside last for 9,000 triggers, and can be powered for a little more than 6 months. The playback feature allows you to view a time-lapsed video with all images with one press of a button.

The MAC 200 can function as a separate security camera for your home. The portable, motion-activated camera can store up to 14 months of images. You can watch over 8 hours of images with a condensed, time-lapsed 1 minute video. There are three capture modes you can choose from: motion-activated, time lapse capturing, and a hybrid mode that includes both. Activity can be set to sense anywhere between 20 feet to 320 feet between the three different modes.

 

The view from your door, inside your home.
The view from your door, inside your home.

 

 

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What Single People Need to Do Before Buying A Home

The usual route to home ownership tends to start with meeting a special someone. When you’re a couple and you want to begin a life together, it makes more sense to get a new home for yourself. You may plan to get a roomier home for the two of you, and especially if kids are part of your plan in the foreseeable future.

What if you’re single? That doesn’t mean that you can’t get a house in Montreal, or a condo in NDG (Notre-Dame-de-Grâce) or anywhere else in Canada. Here are some tips that can help if you’re single and determined to buy your own home:

  1. Get your finances in order. This is the first and most important rule, as money will always be an issue for you especially since you don’t have a partner to share the expenses. It can be problematic to get a mortgage when you’re single since you’re less likely to repay a loan than two people together who both work for a living. So, pay off your credit card debts, raise your credit score, finish paying for your car, and have enough money to put down 20% of the house price as down payment.
  2. Have lots of money in the bank. What if you lose your job right after moving into your own home? You’ll need money for all your expenses while you search for a new job. You need some money in your bank account that’s equal to three to six times your monthly wages. Keep in mind that as a homeowner you have to pay for your home’s upkeep along with home insurance and property taxes. 
  3. Make sure to account for all your possible expenses. First-time owners are often unpleasantly surprised when they encounter expenses that they don’t normally deal with when they were apartment tenants. Home ownership can be very costly, especially when you have to remodel your home. It’s also difficult to estimate what you’d have to spend, especially when you have a backyard to maintain.
  4. See if a condo makes more sense for you. In general, a condo unit makes a lot more sense than an actual house if you’re still single. A condo will probably be located closer to where you work. It’ll also be located right in the middle of the city you’re in, so entertainment establishments are conveniently nearer. A condo building can have amenities that you’ll appreciate when they’re nearby, such as a gym or a salon. It also provides you with more social opportunities to meet new people so that you’re no longer single (if that’s what you want, of course).
  5. Be conscious about security. Security is another reason why condos work best for singles as they usually have guards in the lobby to keep out strangers. If you’re living in your own house, you may want to put in a strong lock on your doors and perhaps on your gate. You should make friends with your neighbours, who can call the police when they see strangers in your home when you’re not there. A security camera tied into your smartphone can help as well, though a dog can also be useful.
  6. Look for houses with a friend. Couples have the advantage of having someone to discuss their home options so that they’re more certain of their choices. If you’re looking for possible homes to buy, make sure you call a friend to come along. They can help you think logically so your emotions don’t get the best of you.

Of course, one “side effect” of having your own home when you’re single is that you generally become more attractive to potential partners. Just make sure you buy the right home when you can actually afford it, so you can actually enjoy your new status as a homeowner. For the Silo, Dimitry Karloff.