Home Insurance Mortgage Broker

Last Updated:
May 26th, 2020 3:36 pm

Tags:

SCORE

Reply to ThreadReply

Search this thread

Search this thread

May 23rd, 2020 11:38 pm

Sedul [OP]: Sr. Member; Aug 31, 2001; 607 posts; 66 upvotes

May 23rd, 2020 11:38 pm

Home Insurance Mortgage Broker

Hi,

My insurance premium went up 20% this year compared to last year when I first signed up. Living in Toronto.

Any tips / referrals to home insurance companies and/or home insurance brokers to do a check before my renewal is due?

Thanks,

[EDIT]. Original post was done late at night.... mistyped mortgage broker for home insurance broker

Last edited by Sedul on May 24th, 2020 6:44 pm, edited 2 times in total.

5 replies

May 24th, 2020 9:00 am

stunner416: Newbie; Feb 4, 2010; 54 posts; 27 upvotes

May 24th, 2020 9:00 am

Mortgage brokers don't have anything to do with house insurance. You need to contact an insurance broker to have them do a search if they can find you anything cheaper.

+1

May 24th, 2020 5:30 pm

ejohan: Sr. Member; Oct 12, 2005; 787 posts; 694 upvotes; Vancouver

May 24th, 2020 5:30 pm

You should try doing quotes with TD Insurance, CAA and ScotiaLife. Then cross compare these to a local insurance broker.

May 24th, 2020 6:00 pm

cloak: Deal Addict; Sep 2, 2009; 2892 posts; 2910 upvotes; Ottawa

May 24th, 2020 6:00 pm

Could try sonnet (online arm of Economical). My understanding is they do have larger than average increases after the first year (but larger percent on smaller value still ends up smaller) to get closer to the other guys (but that's offset by lower first-year rates).

May 26th, 2020 12:36 am

Piklishi: Deal Addict; Jul 25, 2015; 2491 posts; 2476 upvotes; Burnaby, BC

May 26th, 2020 12:36 am

Increase your deductible to 10k if you can afford it. Your insurance most likely will drop 25%. Or remove extra items that you might not need like sewage back up, if you live on top of the hill. Or protection from Ice and snow if you live in Victoria...etc.

May 26th, 2020 3:36 pm

Sedul [OP]: Sr. Member; Aug 31, 2001; 607 posts; 66 upvotes

May 26th, 2020 3:36 pm

i'm with Economical and I heard they may increase after first year.
In Toronto, Old Home 1930s

My premium went up from like 1088 -> 1337
The location premium went up from 1088 to 1238 or so.
My location deductible is $1000
which would be applicable for Sewer Backup, and Overland Water coverage.

Reply to Thread

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)