Home Insurance

[Mike]

Anybody have any recommendations for anywhere in particular if I'm shopping around for home insurance? Places you'd recommend or not recommend?

 

Compiling quotes now, but any information on companies that have been easy or difficult to deal with would be awesome.

 

 

[The Unknown Poster]

I cant remember who we're with (Ill check) but we were with TD Insurance and they drastically raised their rates and when we complained they basically said they wanted to make more money.  My buddy who works for TD even switched.  They went from among the best deals to the worst.

 

Edit:  We use Brokers Choice Financial.  The gf handles that sort of thing but my recollection is, it was a good deal and good coverage.

[mbrg]

What a strange question.

 

You use the only insurance broker in your small rural town, just like everybody else.

 

Next you'll be asking which store to buy groceries at and which gas station to fill up at and which school to send your kids to...

[MOBomberFan]

I'm with Portage Mutual. I had damage to my roof a couple years ago in one of our wicked-bad wind storms. There was no fussing around with my claim, everything was done in a single phone call as I remember it.

 

I've been told not to go with Wawanesa, once by a real estate agent and then again by a former customer of theirs. I can't remember the details, but supposedly they can take a lot longer to process claims or can be more complicated to deal with. Just what I heard, I can't say I've personally dealt with them.

 

I haven't compared them for a very long time, but when I bought my home in 2006 rates and coverage were pretty similar from institution to institution... a few dollars/month difference. If you find otherwise let me know!

[basslicker]

Make sure your broker let's you know who they're getting your coverage with.

I'd say get Intact.

Good experience in Alberta with them.

Claims are started fast. But service always depends on the adjuster you get....

but certain companies are more consistent than others.

[nate007]

I've been with TD Insurance since we moved into our new house five years ago. We had used Peace Hills prior to that in our condo, but when we moved and I saw Peace Hills' quote on our new place, I shopped around and TD was FAR cheaper. They have gone up the past couple years, but from what I've heard so have all the other insurers because of lousy interest rates and a lot of natural disasters. 

 

I got a quote online from the Cooperators earlier this year, and it was slightly less than TD, but not really worth the hassle of switching. I'll see how much TD jacks heir rates later this year when they send me my renewal notice.

 

 

Semi-related, has anyone renewed or gotten a mortgage lately? I just renewed with BMO for five years at 2.15% (variable). That's bananas! They were also offering 2.64% fixed, but I'm not so sure rates will be in a hurry to go back up. Plus I can switch to fixed at any time. Best of both worlds!

[bigg jay]

Semi-related, has anyone renewed or gotten a mortgage lately? I just renewed with BMO for five years at 2.15% (variable). That's bananas! They were also offering 2.64% fixed, but I'm not so sure rates will be in a hurry to go back up. Plus I can switch to fixed at any time. Best of both worlds!

 

We're with First National and our term is almost up.  We've been doing the variable mortgage & they've offered us a very similar deal to renew.  We will probably renew with them but we're still going to shop around a little bit and see if someone can beat that.

[Jacquie]

If you go to an insurance broker they'll do the shopping around for you.

[Jpan85]

I have been working with BSI for both my home and business insurance have been very pleased. Especially with the business insurance part need some different types of insurance and were able to find what I needed.

[The Unknown Poster]

I've been with TD Insurance since we moved into our new house five years ago. We had used Peace Hills prior to that in our condo, but when we moved and I saw Peace Hills' quote on our new place, I shopped around and TD was FAR cheaper. They have gone up the past couple years, but from what I've heard so have all the other insurers because of lousy interest rates and a lot of natural disasters. 

 

I got a quote online from the Cooperators earlier this year, and it was slightly less than TD, but not really worth the hassle of switching. I'll see how much TD jacks heir rates later this year when they send me my renewal notice.

 

 

Semi-related, has anyone renewed or gotten a mortgage lately? I just renewed with BMO for five years at 2.15% (variable). That's bananas! They were also offering 2.64% fixed, but I'm not so sure rates will be in a hurry to go back up. Plus I can switch to fixed at any time. Best of both worlds!

 

TD's rates went up for us (we bought in 2008) so much it was worth it to switch. 

 

Just re-upping my mortgage now.  4 years (or two, havent decided which is really eating at me) for 2.19.  Very good rates.  We cashed out money AND lowered our payments.

[JuranBoldenRules]

If you go to an insurance broker they'll do the shopping around for you.

 

I'm leery of brokers.  Most of them have deep ties to certain insurance companies and they don't really do all that much "shopping."  I fell into that situation not knowing any better with MIG and Red River Mutual when I first bought a home.  Haven't used a broker since.

[Chaosmonkey]

One thing to consider is how much you want your house insurance to do.

 

My opinion is that it's not very useful for a lot of things they say it covers. Any smaller claims (less than 10k), are usually not worth it, as once you factor in your deductible and how much your rates are going to be going up in the upcoming years, you are better off just paying out of pocket. Your mileage may vary, but it's something to look into.

[The Unknown Poster]

Its one of things you may never use but if you need it, you want it.  My parents made one claim in probably 30 years.  Back in 94-ish when we had that crazy hail storm tear through south Winnipeg.  Their 20 year old roof got replaced.  So it was worth it.

 

I had a car wheel smash through my basement window (it came off a car driving down the street and rolled down the street, up my lawn and through my window).  The driver reported it to MPIC who said it was not their problem.  i called MPIC and they told me the same, go through your house insurance.  Crock.  I called my buddy Marty who as coincidence would have it, was about to sit down for lunch with Brian Smiley.  Had a call back within the hour and MPIC covered my window.  Friggen insurance companies.