Rant/House Insurance Question

Crankbait · #1 05-22-2019, 10:57 AM

House Insurance went up $600. Broker told me it was because Notley took the cap off to help Insurance industry recoup from Calgary flood and Fort Mac insurance claims. Cool, really cool.

So, who do you have and can anyone recommend a good broker or insurance agent?

Oh and my new (soon to be old) insurance package has a new line, in short; if my weed and/or paraphernalia is stolen it is now covered. Cool, I don't smoke weed and if I remember correctly, only users lose drugs. I once asked about my fishing tackle being covered, "Oh, yeah, no because you leave the house with it.". I wonder if my cigarettes are covered?

Anyhoo

Cool

nebcfarmer · #2 05-22-2019, 11:13 AM

Are you inside a municipality that offers fire protection?

Cement Bench · #3 05-22-2019, 12:04 PM

so what do you now pay we are at 4100 a year

Fitscottn · #4 05-22-2019, 12:30 PM

I just got my renewal for home/auto and it went up 25%. Still trying to find out why...

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jcrayford · #5 05-22-2019, 12:36 PM

Mine was going to go up by over $500... A quick call the other day and got it back down to a reasonable level.

I realize that rates need to go up, but not by that much. Times are tough, easy enough to explain to your current provider that you will shop around if they can't adjust accordingly.

J.

calgarygringo · #6 05-22-2019, 12:44 PM

In the biz and it is the opposite. Notley didnt lift it and is hurting the insurers. Tell them to pound sand on that story. Everyones has gone up but not that much unless there is something going on.

Quote:

Originally Posted by Crankbait

House Insurance went up $600. Broker told me it was because Notley took the cap off to help Insurance industry recoup from Calgary flood and Fort Mac insurance claims. Cool, really cool.

So, who do you have and can anyone recommend a good broker or insurance agent?

Oh and my new (soon to be old) insurance package has a new line, in short; if my weed and/or paraphernalia is stolen it is now covered. Cool, I don't smoke weed and if I remember correctly, only users lose drugs. I once asked about my fishing tackle being covered, "Oh, yeah, no because you leave the house with it.". I wonder if my cigarettes are covered?

Anyhoo

Cool

Jim Blake · #7 05-22-2019, 05:29 PM

We were with Peace Hills for about 15 years. We are 21 miles from fire protection. House 750K, Shop 150K plus the usual contents. Peace Hills had us up to 4900 bucks. Switched to Wawanesa with the same coverage for 2900.

Seems Insurance Companies don't reward for loyalty. Switching and shopping your business seems to be the best option.

Coiloil37 · #8 05-22-2019, 05:39 PM

Our house insurance didn’t change much in the past six years. Insurance was through sgi even though we live in Alberta, 600k house cost me $2200/year. I agree that loyalty doesn’t mean your not getting bent over.

calgarygringo · #9 05-22-2019, 05:45 PM

Enjoy it while you can. They are one of the later players to the party. They cannot sustain any longer either. Its coming from them too.

QUOTE=Jim Blake;3979590]We were with Peace Hills for about 15 years. We are 21 miles from fire protection. House 750K, Shop 150K plus the usual contents. Peace Hills had us up to 4900 bucks. Switched to Wawanesa with the same coverage for 2900.

Seems Insurance Companies don't reward for loyalty. Switching and shopping your business seems to be the best option.[/QUOTE]

The Cook · #10 05-22-2019, 06:43 PM

I phone and complain every year and they usually put it back down to where it was. Intact Insurance out of Cochrane.

calgarygringo · #11 05-22-2019, 07:13 PM

Actually there is nothing your broker can do on the price. They can change coveragez and deductibles to save you money and does happen a lot. If you have tickets or chargeable accidents sometimes an underwriter may feel sorry for you and give you a bit of a break. If you are getting your dollars dropped I suggest scrutinizing with a fine tooth comb as it is not because they are being nice guys. Especially auto as nobody even want it right now. They would prefer you go elsewhere.

Quote:

Originally Posted by The Cook

I phone and complain every year and they usually put it back down to where it was. Intact Insurance out of Cochrane.

ssyd · #12 05-22-2019, 07:14 PM

Quote:

Originally Posted by calgarygringo

Enjoy it while you can. They are one of the later players to the party. They cannot sustain any longer either. Its coming from them too.

QUOTE=Jim Blake;3979590]We were with Peace Hills for about 15 years. We are 21 miles from fire protection. House 750K, Shop 150K plus the usual contents. Peace Hills had us up to 4900 bucks. Switched to Wawanesa with the same coverage for 2900.

Seems Insurance Companies don't reward for loyalty. Switching and shopping your business seems to be the best option.

I got a couple quotes for auto when mine went up. I'm pretty sure they reward loyalty because everything I found (brokers and direct) was $300-$400 more than I'm paying now.

calgarygringo · #13 05-22-2019, 07:26 PM

Right now most will only sell you if you bundle auto with home and will give a discount. You also get flagged if uou jump around every year as they make nothing. Stay where you are and bundle for the best in the long haul or try to save a buck and pay me now or pay me later as they say.

Quote:

Originally Posted by ssyd

I got a couple quotes for auto when mine went up. I'm pretty sure they reward loyalty because everything I found (brokers and direct) was $300-$400 more than I'm paying now.

MountainTi · #14 05-22-2019, 08:12 PM

Quote:

Originally Posted by Jim Blake

We were with Peace Hills for about 15 years. We are 21 miles from fire protection. House 750K, Shop 150K plus the usual contents. Peace Hills had us up to 4900 bucks. Switched to Wawanesa with the same coverage for 2900.

Seems Insurance Companies don't reward for loyalty. Switching and shopping your business seems to be the best option.

I'm with Wawanesa as well, house and shop same value, no claims ever, about 4 miles from fire hall, and all my vehicle insurance thru them.
I'm at $4600 though (that's not vehicles, just home). Quite a difference

Tannerdog · #15 05-22-2019, 08:15 PM

Talked to my broker about this today. Basically everything insurance is on it's way up. Fires, floods and payouts anywhere in Canada affects all underwriters and they are apparently lobbying the government now to lift caps. Insurance companies would not even sell auto policies if they were allowed (required by law), apparently they are paying out 1.15 for every 1.00 they are charging in auto premiums. That's why the bundling of insurance is what they are all pushing for. Not first hand knowledge, but my broker is a smart lady....

calgarygringo · #16 05-22-2019, 08:48 PM

Read my posts and this one is right on. I am in insurance and only trying to help everyone. Thats whats going on and not just rumours. Many companies are paying out a buck 30 for every dollar they take in for auto. There are a few that have been trying to hold on but they are giving in too. Some are even planning exiting if things dont change. Be careful if yoy try to change you may many or even most wont want to even do business.

Quote:

Originally Posted by Tannerdog

Talked to my broker about this today. Basically everything insurance is on it's way up. Fires, floods and payouts anywhere in Canada affects all underwriters and they are apparently lobbying the government now to lift caps. Insurance companies would not even sell auto policies if they were allowed (required by law), apparently they are paying out 1.15 for every 1.00 they are charging in auto premiums. That's why the bundling of insurance is what they are all pushing for. Not first hand knowledge, but my broker is a smart lady....

NinjaHunter · #17 05-22-2019, 08:51 PM

Quote:

Originally Posted by calgarygringo

In the biz and it is the opposite. Notley didnt lift it and is hurting the insurers. Tell them to pound sand on that story. Everyones has gone up but not that much unless there is something going on.

ding ding ding. Someone with some idea of basic economics.

spazzy · #18 05-23-2019, 12:23 PM

Funny mine got cheaper this year by 200 bucks . Through intact

nimrod · #19 05-23-2019, 12:32 PM

Mine was 600 per month with co-operator, gave All State a call and it went to 350 per month, maybe more when I change my vehicle over to All state, more insurance for less money

Tracer77 · #20 05-23-2019, 03:56 PM

We were having major issues with Wawanesa for house insurance (we live on an acreage) and were very frustrated. We switched to Allstate (including all our vehicles etc) and saved ourselves $1400 a year. We have an amazing agent, so if you PM me I will give you her name and contact info.

RandyBoBandy · #21 05-23-2019, 08:34 PM

Quote:

Originally Posted by Tracer77

We were having major issues with Wawanesa for house insurance (we live on an acreage) and were very frustrated. We switched to Allstate (including all our vehicles etc) and saved ourselves $1400 a year. We have an amazing agent, so if you PM me I will give you her name and contact info.

I thought Allstate was gobbled up by Dejardin's ?? NO??

calgarygringo · #22 05-23-2019, 09:02 PM

Nope...StateFarm packed up and left and went to where they can maybe make profits. I have heard Desjardins is still quoting old school pricing. May want to check with them before they slide too.

QUOTE=RandyBoBandy;3980060]I thought Allstate was gobbled up by Dejardin's ?? NO??

[/QUOTE]

masalma · #23 05-23-2019, 09:37 PM

On my work truck, they raised deductible from $1000 to $8000 and no choice by to take it. It is a 2013 freightliner and they claim they require 8% of the list price new as deductible. Doesn't make sense.

calgarygringo · #24 05-23-2019, 09:46 PM

Because truckers are one of the highest insurance risks out there. Way too many claims and losses. Most companies wont even insure them any more. Hence what you experienced.

Quote:

Originally Posted by masalma

On my work truck, they raised deductible from $1000 to $8000 and no choice by to take it. It is a 2013 freightliner and they claim they require 8% of the list price new as deductible. Doesn't make sense.

roper1 · #25 05-23-2019, 10:01 PM

Mine was up few %, Co-Operators whom I've been with for 20 years said Hail & Theft in my county.

Ebrand · #26 05-24-2019, 01:17 AM

Pay more and go somewhere else.

Or take your money and go to the casino. At lest you will get paid at the casino.

Thought we were doing great with those outfits cheaper than everyone else.

Then we had to put a claim through.
Treated very poorly and they tried to screw me in every way.

Dyck Insurance out of Wetaskiwin are great brokers to deal with.

Just avoid Intact and Novex.

58thecat · #27 05-24-2019, 06:08 AM

Call get it lowered or shop around....you can do that between smoke breaks!

eagleflyfisher · #28 05-24-2019, 07:01 AM

With cooperators,
Over 4K year, house shop, barn etc.
They actually came to our house about 6 weeks ago for an inspection.
Long freakin laundry list they identified as things they would like to see changed or inspected.
Want a roof inspection on house and barn, barn roof shot, easily identified so why would I pay money to have someone tell me that. House roof had maybe 5-10 years left...IKO 30 yr renosaince shingle..GArbage!
Extension chord on freezer too long, wet inspection on wood burning fireplace, ( professionally installed by hearth and home, 10 yr old furnaces inspected again by pros. Railings on my decks , again prof built, seating all the way around, no place for handrail , cracked window on treehouse, replace that, and on and on.

Phoned the girl yesterday, wtf were you doing in my shop and barn ? You were here regarding our house policy ?
Anyhow like all you folks have, house, shop, commercial, vehicle etc under one roof.
I asked why is it never once do you call and say hey great news... We can lower your premiums?