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Home Insurance Question

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  • Apr 24th, 2014 10:10 pm
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Deal Addict
Dec 11, 2010
1700 posts
137 upvotes

Home Insurance Question

How much have people's premiums increased this year? Mine increased from $700 to $960 per year for this renewal :( I know they're increasing for everyone this year, but 40% was higher than I was hoping the increase would be.
4 replies
Deal Expert
User avatar
Dec 12, 2009
29462 posts
20372 upvotes
Only $15 on this renewal. I have been taken to the woodshed by my insurer the past 3 years. I would dream of paying $960 per year.
Deal Expert
Aug 22, 2011
41667 posts
29854 upvotes
Center of Universe
Location?
Mine dropped along with my two vehicles.
Deal Expert
User avatar
Dec 12, 2009
29462 posts
20372 upvotes
vkizzle wrote: Location?
Mine dropped along with my two vehicles.
416 area code. For many years, my insurer kept on telling me that my area was high risk for basement flooding and they suffered some major claims as a result. I kept on telling them that my area is not flat and perhaps those in the lower areas are affected. However it is not fair to lump me in with that group since I am near the top of the hill. It's as if my neighbor's kid gets a drivers license and automatically I get an increase because of potential increased risk in the area. Each time they raised rates, I lowered coverage to keep the increase within affordability. Finally, they are tired of beating on me. But then again, they get a chance every year.
Deal Expert
Aug 22, 2011
41667 posts
29854 upvotes
Center of Universe
It appears all of GTA is collectively paying for the flood, whether they were affected or not and or made a claim.

Though my rate went down, I still called around for a few different quotes and checked kanetix to compare.

Loyalty means nothing to insurance co, so shop around and switch yearly if you find a better rate elsewhere.

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