Good afternoon! Most money surprises don’t come from bad decisions. They come from rules nobody explained until the bill showed up, so consider this issue your fine-print reader before the next surprise lands on your kitchen table.
On The Money Today:
Why an insurance claim that got paid can still cost you your coverage
The tariff fine print that’s headed for your shopping cart into 2027
The U.S. registration rule snowbirds need to read before crossing the border
Let's dive in.
HOME INSURANCE
Filing a small claim could get you dropped by your home insurer. — know this before you file
An Ontario homeowner did what most of us would do after a flooded basement and filed a claim. Her insurer paid it, then sent a letter that had her calling up to 15 companies to find new coverage. If you’ve ever filed a claim, even a small one, the reason she was dropped is worth knowing before your next renewal.
Why It Matters:
Home insurance premiums rose 45% between 2019 and 2025, more than double the rate of inflation, so losing your claims-free standing has never been more expensive. A single claim within five years can push your rate up by 20% to 22%, according to LowestRates.ca.
IN PARTNERSHIP WITH National Bank
Earn up to $600 back on a new National Bank chequing account
Switching chequing accounts might feel like a hassle, but the math could work in your favour. The Connected® chequing account from National Bank offers unlimited digital transactions and Interac e-Transfers®, with monthly fees starting at $0 with a $4,500 balance, or $10.95/month for customers 60 and older. For a limited time, eligible customers can earn up to $600 cashback when they open the account and complete qualifying steps before November 3, 2026.
Unlimited digital transactions and Interac e-Transfers®
$0 fixed monthly fees with a $4,500 balance
Eligible Mastercard with $30 applied as credit and a $5/month fee discount
Up to $600 cashback for new account holders (offer ends November 3, 2026)
ECONOMY
'Caught them in the act': Trump alleges Canada imposed secret tariffs on U.S. that only he knew about. What it means for you
Trump grabbed headlines last week by claiming Canada charged secret tariffs that only he knew about. The comment that matters more for your wallet came moments later, and it suggests this trade fight won’t end soon. If you’re buying winter gear, planning a renovation or renewing your mortgage in the next year, a few moves now could save you money later.
Why It Matters:
The Bank of Canada estimates that about three-quarters of tariff costs reach store shelves within 18 months, and inflation is already running at 3%. With rate cuts now less likely, retirees on fixed incomes have less room to absorb even small price increases.
MUST READ
The 3 deadlines every snowbird needs to know before heading south
For years, wintering in Florida or Arizona meant closing up the house, buying travel insurance and hitting the road. This year, Washington has added a new requirement, and skipping it could mean a steep fine or even jail time. Two other clocks start ticking the day you arrive, and either one could follow you home.
Why It Matters:
Someone who spends 120 days a year in the U.S. for three straight years lands just three days short of the IRS threshold for being treated as a U.S. taxpayer. Stay past 180 days without the right status and you could be barred from re-entering the country for three years.
MONEY IQ
The Canada–U.S. Free Trade Agreement, the forerunner to NAFTA, took effect in what year?
ALSO MAKING THE ROUNDS TODAY
Carney fired back at Musk’s call for three provinces to separate, and Quebec’s widening bond spreads could matter more for the bond funds in your RRSP
Tipped workers say their income is shrinking, so before your next restaurant bill, know what that payment screen is really asking of you and tip where it counts
Connor Hellebuyck is giving up US$38,660 a day in his standoff with the Jets, but walking off the job could cost you your EI benefits if you ever try the same move
Stephen Jarislowsky turned $150 into a $40-billion firm, and his warning about investment fees could still save you tens of thousands over time
MONEY IQ: HOW'D YOU DO?
Answer: B) 1989. It took effect on January 1, 1989, five years before NAFTA.
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