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Home insurance renewal denied

  • Last Updated:
  • Jun 20th, 2016 4:17 pm
[OP]
Member
Sep 2, 2005
379 posts
58 upvotes
Toronto

Home insurance renewal denied

Hi,

Looks like I inadvertently (stupidly? mea culpa!) messed up with my home insurance. I have 3 (small, but not trivial) claims with my home insurance. My current insurance company says they have strict underwriting rules: 3 claims in 3 years and you're out. I didn't know this could happen -- I thought they would just raise the rates and keep me; I had been with them for 15 years without any claims before these 3 claims.

I've been told by my current insurance and a broker to just use a "high risk" insurer... but I can't seem to find any. Who are the high risk insurer? Or any "regular" insurers that people could recommend in my situation?

Thanks!
8 replies
Deal Fanatic
User avatar
Nov 24, 2012
5704 posts
1881 upvotes
Space
The irony, if you actually use the insurance you pay for they don't want you as a customer. The insurance industry is a joke. Call around and see who will insure you.
Sr. Member
Aug 6, 2014
830 posts
296 upvotes
Ottawa, ON
wow, i didn't know that was a thing, and i've done my best to read through the 40+ pages of random clauses and other confusing nonsense in my policy. good to know. good luck, OP.
Jr. Member
Jun 2, 2012
146 posts
160 upvotes
Maple Ridge
Definitely shop around. We had the same insurer for 20 years, and then had a toilet flood that leaked nasty water down into the basement. Turned out to be a $15K claim. When our renewal papers came, Canadian Direct, our insurer, snuck in a maximum limit of $5K on future water damage and raised our rates by 20%. Having seen how much damage water can do, I consider this to be non-insurance and would never agree to this. I looked around and found, for similar money, proper coverage. It's worth shopping around.

DD
[OP]
Member
Sep 2, 2005
379 posts
58 upvotes
Toronto
Thanks for the replies, and the moral support :)
All the insurers I've tried so far have refused, so it's getting stressful.
Deal Addict
User avatar
Feb 25, 2015
1119 posts
488 upvotes
York Region
dollardaver wrote: Definitely shop around. We had the same insurer for 20 years, and then had a toilet flood that leaked nasty water down into the basement. Turned out to be a $15K claim. When our renewal papers came, Canadian Direct, our insurer, snuck in a maximum limit of $5K on future water damage and raised our rates by 20%. Having seen how much damage water can do, I consider this to be non-insurance and would never agree to this. I looked around and found, for similar money, proper coverage. It's worth shopping around.

DD

Good thing you noticed that. I too have seen what water can do and $5K is nothing.
Deal Addict
May 23, 2009
2836 posts
1308 upvotes
Mississauga
I've sent you a pm with a broker who will be able to check multiple companies to get you coverage.
Deal Expert
User avatar
Jul 30, 2007
29191 posts
14950 upvotes
Toronto
see .. no such thing as a free claim. Insurance companies will get their ways.
Deal Fanatic
Apr 23, 2009
5154 posts
683 upvotes
South of Ottawa
If you're broker isn't finding you anything, get another broker. I had a similar issue and got a different broker who hooked me up with Wawanesa.

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