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Are business fire insurance proceeds taxable?

Most business owners are shocked to learn that the receipt of an insurance claim payment for a fire or other loss may result in taxable income. This can h...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What happens to a life insurance policy when you divorce?

Life insurance policies pay out a death benefit upon the insured’s death to their named beneficiaries. In a divorce, both beneficiaries and policy ownersh...

What is the difference between a title company and a mortgage company?

Without a title company, a mortgage loan could be risky for both you and the lender. If it’s deemed the property has a clear title, you can buy the proper...

How much should my auto insurance be?

To legally drive in Alberta, everyone must have liability insurance to cover any at-fault damage or injuries to others. This does not cover your own vehic...

Does liability insurance cover theft and fire?

Comprehensive coverage will usually cover theft, as well as repair costs from break-in damages. Liability insurance likely won’t cover theft, as it usuall...

Does term life insurance have dividends?

Conversely, term life insurance does not pay dividends because the policies do not hold value, unlike whole life policies. A term life insurance policy ca...

What is the recommended car insurance coverage in California?

California requires drivers to carry at least the following auto insurance coverages: Bodily injury liability coverage: $15,000 per person / $30,000 per a...

Does the government run health insurance?

As the Act requires Americans to purchase health insurance, the federal government will offer subsidies to Americans with income levels up to four times t...

Should we disclose smoking in term insurance?

If you are a smoker, disclose the habit before availing the term insurance plan. Smokers may have a higher level of health risk and insurers add an additi...

How much does insurance cost go up after a ticket?

How much does car insurance go up after a speeding ticket? Car insurance typically goes up about 25% after a speeding ticket, NerdWallet’s 2020 rates anal...