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Cheap home insurance

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  • Apr 6th, 2022 4:43 pm
[OP]
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Oct 16, 2018
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Toronto

Cheap home insurance

Can anyone suggest a cheap home insurance company?
39 replies
Deal Addict
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May 22, 2005
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Quote around through brokers.
Deal Expert
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Feb 11, 2007
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GTA
Lookingfordeals911 wrote: Can anyone suggest a cheap home insurance company?
Find group insurance and raise your deductibles.
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Jun 16, 2009
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Woodbridge
Call Joel @ 647-218-3338. He recently helped me to lower premiums of Auto+Home insurance for almost by 30%. TD kept jacking up my prices without claims.

P.S: You can also call square one insurance for home insurance. They were one of the best insurers. I found them through Kanetix
Lookingfordeals911 wrote: Can anyone suggest a cheap home insurance company?
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Oct 13, 2008
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Durham
I'm with Pembridge ... in Oshawa:

HOME - $962 / yr ... $80.17 a month
AUTO - $2499 / yr (2 vehicles) ... $208.25 a month
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[OP]
Member
Oct 16, 2018
216 posts
147 upvotes
Toronto
newlyborn wrote: Call Joel @ 647-218-3338. He recently helped me to lower premiums of Auto+Home insurance for almost by 30%. TD kept jacking up my prices without claims.

P.S: You can also call square one insurance for home insurance. They were one of the best insurers. I found them through Kanetix
I had them on my list. Was quoted 92 a month.
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Dec 27, 2009
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Lookingfordeals911 wrote: I had them on my list. Was quoted 92 a month.
Isn't that cheap enough for you? I was paying closer to $130/month even when we lived in our townhouse.
[OP]
Member
Oct 16, 2018
216 posts
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Toronto
Chickinvic wrote: Isn't that cheap enough for you? I was paying closer to $130/month even when we lived in our townhouse.
Yes it's one of my choices but my auto is close to 300 for 2 cara want to get a bundle for everything like 250 or 275.
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Dec 27, 2009
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Lookingfordeals911 wrote: Yes it's one of my choices but my auto is close to 300 for 2 cara want to get a bundle for everything like 250 or 275.
How is that going to happen if you pay more than that just for your cars? And...is this really where you want to cheap out completely? Your biggest investment?
[OP]
Member
Oct 16, 2018
216 posts
147 upvotes
Toronto
Chickinvic wrote: How is that going to happen if you pay more than that just for your cars? And...is this really where you want to cheap out completely? Your biggest investment?
That's why nim shopping around. I'll do my homework. Doesbt mean I chose the cheapest one. Im also going to consider coverage too. There are so many options. I want to sit down a d make some choices, hence why I'm asking.
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Aug 31, 2014
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Toronto, ON
I find this year’s home insurance cost went up a lot with all the companies. Ended up renewing with my current company which is the co-operators
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Aug 25, 2020
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Nobody can give you an answer. It depends where you live. You get profiled based on a given insurers existing portfolio in your area. If their risk exposure is high, due to them having a ton of homes in an area, their prices will be high for you (even if someone else's are cheap).

You need to quote around.
Deal Fanatic
Jan 21, 2018
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Vancouver
This is discussed more in the Personal Finance forum, for example: home-insurance-2454840/

It's different in every province and region, so you won't get good answers until you specify where you live.

You can go through a broker, or you can go direct to some insurers. In theory brokers can shop around and get you the best deal. In practice brokers depend on a commission they get paid by the insurer, so they only offer options from companies that pay them a decent commission, which is a guaranteed price disadvantage. Nevertheless, it's worth asking - there are some good brokers, and it's always possible they can come up something. A broker can also be helpful in providing assistance and advice if you have a claim - but you can't rely on that, as many of the brokers are useless at providing assistance, they're just in it for the money.

Many companies offer low quotes to new customers to suck them in, and then hit them with big increases in the 2nd year and every year after. So first-year rates are an outlier that you may need to discount if looking long-term.
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Oct 24, 2010
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Ottawa
skoalman123 wrote: Quote is almost $1000/year more than I'm paying with Alstate.
Given that I'm paying $1k with RBC (Aviva), that's crazy!

- Guaranteed replacement cost, estimated at $400k
- $2 million liability
- $300k contents
- $60k detached structures
- $96k additional living expenses
- $50k sewer backup
- $30k bylaw coverage
- Overland Flooding, covered to policy limit (i.e. full replacement)
- Single Limit Endorsement

$1023/year

Our auto is all-inclusive as well. $2 million liability. $500 disappearing deductible. 2 drivers, no accidents. 1 car, reported as "casual" (<10k km/year).

$1339/year
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Jul 2, 2001
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skoalman123 wrote:
Quote is almost $1000/year more than I'm paying with Alstate.
It was almost half price in my situation after rbc raised my premiums for no reason 🤷🏼‍♂️
.
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Oct 23, 2008
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No one can really suggest one company over another as each company will determine the premiums differently based on a number of factors. There's also what you want covered and how much coverage.

I'd say call around, but definitely take into consider not only the amount of liability but how much water coverage there is.
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[OP]
Member
Oct 16, 2018
216 posts
147 upvotes
Toronto
shabby wrote: It was almost half price in my situation after rbc raised my premiums for no reason 🤷🏼‍♂️
Square one quoted me for 1250 for entire tire year for. 3200 sq he that's 5 years old. 1000000 rebuild cost and basic coverage for everything else. Not maxed out.

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