Many of us chafe at the idea of buying insurance. It seems like a waste to pay a premium for something that might not even be used. However, the reality is that insurance in Canada is designed to protect you against the chance that something goes terribly wrong.
When it comes time to renew your mortgage do you blindly accept the first offer from your existing mortgage lender? Banks know that most homeowners don’t bother negotiating – or shopping around, for that matter.