Home Insurance Jump

[undercoverbrother]

Originally Posted by TorqueDog

no increase on my tenant insurance (which is already cheap as hell).

That's good to know I need to get some for my parents in mid-August

[Bill Bumface]

I left Intact because they're rates went nuts, and now that I'm getting gouged by Aviva on my house renewal, Intact is $1,800 less.

[LeftWing]

Originally Posted by GGG

Over your 20 years how many times did you shop around. For me it’s was once when I got sick of being on hold with TD to discuss an increase so I called the personal and before I was off hold with TD I had signed up for new insurance. So a model of not being competitive to retain existing customers appears to be working.

Oh yeah, it's so painful to shop around. Last year I called TD and told them they should do something about the rates because it was getting ridiculous - surely there was something they could do? The guy basically said that extreme weather, all insurance companies affected, you'll get this everywhere, blah, blah. And... I should have started to look around, but it always seems too onerous. This year's increase was the last straw, but now I feel like a rube for taking so long to switch.

[habernac]

Originally Posted by Boblobla

I just moved my home from TD to Wawanesa as they offered the best coverage. I am saving several thousand a year with lower deductibles and better coverage than what TD was 'offering' in my renewal. Eff TD.

You must be in a different area. They cancelled my policy after paying us out on hail damage last year.

[krynski]

I don't know why I received an insurance renewal email at 9 PM at night, but I did.

I'm a little flabbergasted to see a 228% increase, in an area where there has not been a natural disaster in the last year (not in Calgary). I understand the need to increase some premiums, but this is something else...

[calgarygringo]

If you can look at the insurance numbers in Alberta you would understand what is going. Insurance money from all of us just goes into the company pot. Some pay more than others because they have car accidents or multiple claims. Some pay more because the data says you have more accidents, more thefts/vandalism, frequent weather events like this last few years etc in your specific neighborhood. When there are any of these the pot needs more money for payouts and even us with no claims pay more. Some are leaving, some have left ans some companies have been hit hard so are adjusting accordingly. They don't make huge profits either on the insurance part of the biz either and right now a lot of losses. Their money when made is on the investment side. If you find a great deal check the coverage's very closely as you may be only getting a minimal coverage policy and as always make sure they have good claim service. I used to be on the inside of this and saw and heard it all.

[Mazrim]

Originally Posted by calgarygringo

They don't make huge profits either on the insurance part of the biz either and right now a lot of losses. Their money when made is on the investment side.

https://www.newswire.ca/news-release...848303185.html

This increase was mainly due to the results of the Property and Casualty Insurance segment, owing to fewer claims combined with higher revenues from automobile and property insurance.

[flamesrule_kipper34]

Just want to +1 The Personal. Moved off of TD Meloche Monnex after a loyal 15+ years and across multiple properties/autos dropped rates annually a combined $3600/yr.

[GullFoss]

Our TD home insurance went from $3k to $4k per year. Have been with them for 12 years with no claims. I'm also switching. Have a quote at $2600. Looking for another one.

[Ahuch]

Almost 50% increase and huge deductible jump on TDMM renewal here, time to start shopping. Ugh.

[Wormius]

Originally Posted by GullFoss

Our TD home insurance went from $3k to $4k per year. Have been with them for 12 years with no claims. I'm also switching. Have a quote at $2600. Looking for another one.

TD’s was $4k? Ours is $2200 right now and we’ve had claims in the past. Our car insurance is nuts though. $2700 for a new car, but had a speeding ticket so maybe that drops?

[Swayze11]

I have been with TD Meloche Monnex and mine is $3,500 a year. Sounds like that is high even before my renewal.

[Wormius]

Is everybody getting maximum coverage or is there a difference if you have mortgage paid off or not? Our coverage is pretty basic. $1 million liability and $2000 deductibles on hail/wind/etc.

It is Security National as the insurer though, with TD as the agency.

Of course it renews in October so maybe that is when it the price skyrockets.

[Locke]

Originally Posted by Bill Bumface

Just tried The Personal and they won't do houses over 100 years old.

Well you're just going to have to move out of your Medieval Castle then...

[flamesfan1297]

I have my house, auto, and a couple toys insured with Intact through Western Financial currently, my policy is expiring in August of this year. I just got a quote with Intact through BrokerLink and it's $4,000 a year cheaper. Both through Intact, but it's wild how Brokerlink is so much cheaper than Western Financial. Guess I'll be switching

[calgarygringo]

Same policy, same coverages should be the same. If not I would check for discounts missed and there are many but only if your broker asks, coverages missed, deductible amounts bundling to name a few. Also keep in mind the insurer may change the $$$ if your broker messed up. If too good to be it probably is.

Originally Posted by flamesfan1297

I have my house, auto, and a couple toys insured with Intact through Western Financial currently, my policy is expiring in August of this year. I just got a quote with Intact through BrokerLink and it's $4,000 a year cheaper. Both through Intact, but it's wild how Brokerlink is so much cheaper than Western Financial. Guess I'll be switching

[flamesfan1297]

Originally Posted by calgarygringo

Same policy, same coverages should be the same. If not I would check for discounts missed and there are many but only if your broker asks, coverages missed, deductible amounts bundling to name a few. Also keep in mind the insurer may change the $$$ if your broker messed up. If too good to be it probably is.

Thanks, that's a good point. I'm going to be asking for more details on the policy. Would it make a difference being that Brokerlink is owned by Intact?

[Scrambler]

For HOME insurance, I can suggest Square One, it's customizable coverage which I think is good. I don't need to insure things I think are a low risk (IE: I have zero valuables in my home). It's basically an online broker where you get to make decisions yourself and see the cost variance as you go through it. Even if you go with full coverage (no exclusions) you're probably better off on your premium cost.

https://www.squareone.ca/ref/URUDAQ

They'll hopefully do auto insurance in Alberta in the next year or so. But for now, using this outfit for Home insurance and Zenith for Auto works better than any combo/bundle deal out there.

[undercoverbrother]

Originally Posted by Scrambler

For HOME insurance, I can suggest Square One, it's customizable coverage which I think is good. I don't need to insure things I think are a low risk (IE: I have zero valuables in my home). It's basically an online broker where you get to make decisions yourself and see the cost variance as you go through it. Even if you go with full coverage (no exclusions) you're probably better off on your premium cost.

https://www.squareone.ca/ref/URUDAQ

They'll hopefully do auto insurance in Alberta in the next year or so. But for now, using this outfit for Home insurance and Zenith for Auto works better than any combo/bundle deal out there.

I mean technically you don't have to insurer anything in your home that you own.

You choose to insurer contents.

You have no choice in insuring the building.

Technically, if you owned you home outright you could drop first party coverage

[undercoverbrother]

Originally Posted by flamesfan1297

I have my house, auto, and a couple toys insured with Intact through Western Financial currently, my policy is expiring in August of this year. I just got a quote with Intact through BrokerLink and it's $4,000 a year cheaper. Both through Intact, but it's wild how Brokerlink is so much cheaper than Western Financial. Guess I'll be switching

I think WFG is owned by Wawanesa