[Dion]

Originally Posted by Jbo

Just dealt with this. After years with Lakeview Insurance Brokers I get my renewal and rates for two cars (Wife and I) and our property, and it had gone up 700 bucks a year. Needless to say I hit the roof. I was insured with Wawenesa. No claims or tickets to change things.

Talked with the Broker who used a few excuses including some insurance companies trying to pull out of Alberta (?), recent floods and hail, and what I consider to be other BS.

Shopped around at quite a few places: AMA, Intact, but actually found Scotiabank to have the best prices. Ended up saving a couple hundred a year moving everything over.

Overall in the process, found the Bank's to offer the best deals overall. I know you said you were with TD, but worth it to talk to RBC, Scotia.

Be prepared to prepare the same damn information over and over, but if you have some patience can find something.

NDP cap on auto insurance rates leads to higher costs, fewer choices, says industry

Many insurers operating in the province have stopped taking new customers because they’re losing money, said LowestRates.ca CEO Justin Thouin.

“The insurance companies don’t want new business because they’re not making money,” said Thouin.

His firm, which matches prospective motorists with insurers, is encountering an almost unheard of business phenomenon, added Thouin.

“We have all these people ready to buy but the insurers are saying ‘no thanks,’ ” he said.

“The options that remain out there are more expensive.”

But Hodgson said the province’s premium cap has led to the cancellation of more than 100 contracts between insurers and brokers, considerably curbing coverage options for consumers.

Due to rising claims costs and the government-imposed premium limit, insurers are generally paying out $1.20 for every dollar they take in, he said.

“If this keeps up, some companies will refuse to do business and pull out of the province — it’s happened in other provinces,” said Hodgson.

But no companies have yet quit Alberta and are likely “holding their fire to see what the new government does.”

https://calgaryherald.com/news/local...-says-industry