Home & Auto insurance

[undercoverbrother]

Originally Posted by Derek Sutton

AMA is who I'm leaving as they had our house insurance. Never had any problems other then the price went up $100+/- every year for the last six years. We were paying $1200 in 2009 $1796 and last year. Made one claim due to hail a couple of years ago and everything went good with them that way.

Who are you with now?


If for some reason you don't want to say, can you PM me?

[csnarpy]

Left AMA for Meloche years ago for both home and 2 vehicle. Savings of $2200/yr overall.

Haven't looked at anyone else since.

[DownhillGoat]

Originally Posted by csnarpy

Left AMA for Meloche years ago for both home and 2 vehicle. Savings of $2200/yr overall.

Haven't looked at anyone else since.

Hmm that's a shame. My costs keep going (way) up with Meloche was hoping AMA was cheaper. Planning on shopping around next time my renewal comes around.

[Derek Sutton]

Originally Posted by undercoverbrother

Who are you with now?


If for some reason you don't want to say, can you PM me?

We switched to Aviva Insurance, they do have some bad reviews, but we left Intact (for the cars) who had the same complaints and equally bad reviews. The house was with AMA who I think screwed us out of shingles on a hail claim.

[Ace]

Does anyone know the best way to settle a claim outside of insurance. If we strike a deal is there a standard waiver somewhere you get the person to sign. Or are e-mails back and forth enough?

[Slava]

Originally Posted by Ace

Does anyone know the best way to settle a claim outside of insurance. If we strike a deal is there a standard waiver somewhere you get the person to sign. Or are e-mails back and forth enough?

Is this for a car accident? If so, you definitely want a waiver signed so that no one comes back at you for injuries down the line. I'm not a lawyer, but I would say that waiver is a must, although it won't make you bulletproof. They could always have that waiver laid aside by saying that they weren't aware of the injury at the time or whatever, but at least you would want something to say that whatever you're paying is for a full and final release. I think I would want that before I cut a cheque.

As an aside, some insurers will let you pay the claim and have it not affect your policy. That might be the safest way to go because then they get the proper releases and such now and you pay the claim and don't have to worry. Just a thought.

[Ace]

^good advice about just paying the insurer.

This is an auto claim, but not an accident, (parking lot damage)

[Hevishot]

Originally Posted by Slava

Is this for a car accident? If so, you definitely want a waiver signed so that no one comes back at you for injuries down the line. I'm not a lawyer, but I would say that waiver is a must, although it won't make you bulletproof. They could always have that waiver laid aside by saying that they weren't aware of the injury at the time or whatever, but at least you would want something to say that whatever you're paying is for a full and final release. I think I would want that before I cut a cheque.

As an aside, some insurers will let you pay the claim and have it not affect your policy. That might be the safest way to go because then they get the proper releases and such now and you pay the claim and don't have to worry. Just a thought.

Some shops have a release form that both parties can sign so theres no B.S after its all said and done. Also you can pay the shop directly if you are worried that the guys going to take your cheque and pocket the money and file a claim against you later. I always recommend that people who are paying for other peoples damage come down and inspect the vehicle after its torn down to make sure everybody is on the same page regarding the damages. Its the most fair way. We had someone last year that bumped a kia (scratched bumper). When we took the bumper off there was severe frame damage to the right rail. The boyfriend claimed it was part of the accident and wanted the guy to pay .What he did not know is that the girlfriend was involved in a severe accident a year before they met and her last boyfriend "fixed" the car.

[93Hound]

We always recommend getting a letter signed if you decide to settle outside of insurance. The letter can usually state the date of incident and the damage repaired and that the agreement was met. Even if the guy/gal decides to file a claim anyway cause they can't drive and hot something else, then when they go to file a claim against you, you have proof that there was a settlement made.
We have had this happen many times and we always walk our clients through the process so they do not get taken advantage of at a later date.
Just be careful how it takes place.
Paying the shop that fixed the vehicle is always a good call.

[MickMcGeough]

I've been insuring a house, two cars, and a motorcycle until this week. Cost per year was about $5000/yr for all.

This week I sold one car, and my premiums on my other car go UP to $7600/yr.

My broker explains it's because I have two at-fault fender-benders since 2009. (In fact, I have two at-fault accidents in 20 years of driving). Evidently I was distributing those two accidents across my insured cars, and that selling one put both accidents on my remaining car, which increases my premiums on that car by $3600 (to $4800/yr).

My broker actually advised me to buy another car and insure it to reduce costs. (This would save me about $2500/yr.)

Where is my insurance broker on a scale of 0 to crackhead? Or am I SOL?

[temple5]

I figured I would ask this here.

My wife and her mom have a vacation home that had an insurance claim on it. Instead of going with the insurance company for the renos they decided to get it "paid out" are going with their own contractor.

They got the cheque from the insurance company this week and its made out to my mother in law, wife, and the mortgage company. Is that normal to have the mortgage company on the cheque? The insurance company said its the law if you have a mortgage. The mortgage is in good standing and only has 20pct left on it.

Anyone know the process on how to get the cheque cashed? The mortgage company said to take it to a branch and they will release it, when we took it to the branch they didnt know the process. I figured it would be something as simple as them endorsing the cheque so it could be deposited in any account they wanted but we seem to be getting the run around. Currently they have been paying for the renos with LoC but that is fast approaching the maximum.

Thanks

[MickMcGeough]

Originally Posted by MickMcGeough

I've been insuring a house, two cars, and a motorcycle until this week. Cost per year was about $5000/yr for all.

This week I sold one car, and my premiums on my other car go UP to $7600/yr.

My broker explains it's because I have two at-fault fender-benders since 2009. (In fact, I have two at-fault accidents in 20 years of driving). Evidently I was distributing those two accidents across my insured cars, and that selling one put both accidents on my remaining car, which increases my premiums on that car by $3600 (to $4800/yr).

My broker actually advised me to buy another car and insure it to reduce costs. (This would save me about $2500/yr.)

Where is my insurance broker on a scale of 0 to crackhead? Or am I SOL?

So I've confirmed that this is my insurance broker:



I got a quote from TD and it came in at $4300 cheaper for the year (car + house), with more coverage and lower deductibles.

[Robbob]

They must really hate you.

[I-Hate-Hulse]

Does anyone have any experience with Travellers / Dominion? (Travellers bought out Dominion). Lowest quotes are coming back with them but I'm leery of crappy adjusters or them denying claims.

(PS Screw you TD Meloche. Hiked premiums by 40% with a 15,000 limit of sewer backup which is nothing...)

[FlamesKickAss]

Originally Posted by MickMcGeough

So I've confirmed that this is my insurance broker:



I got a quote from TD and it came in at $4300 cheaper for the year (car + house), with more coverage and lower deductibles.

He was telling the truth somewhat... Some companies are like that.

[I-Hate-Hulse]

For anyone hit with sewer backup issues during the flood (or other incidents)- how much damage did it come out to?

TD now limits you to $25,000 if you do not have a backflow valve. The other quote I'm looking at has a much higher limit - the value of the house itself.

[FlamesKickAss]

Originally Posted by I-Hate-Hulse

For anyone hit with sewer backup issues during the flood (or other incidents)- how much damage did it come out to?

TD now limits you to $25,000 if you do not have a backflow valve. The other quote I'm looking at has a much higher limit - the value of the house itself.

Finished basement ?? Lots of contents in the basement? 25,000 doesn't cover much

[I-Hate-Hulse]

Originally Posted by FlamesKickAss

Finished basement ?? Lots of contents in the basement? 25,000 doesn't cover much

Agreed - that's why I'm trying to get a sense of what it's cost others from a sewer backup. $40K? $50K?

[RW99]

$50k should be enough for the average person. For a 6" sewer backup it could be $10-$15k emergency mitigation, $15-$20k+ for rebuild (more if you have hardwood floors) and $10-$15k for contents depending on if you have it all furnished, electronics, etc.

[FlamesKickAss]

Id say at least 50k