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  • House Insurance

    Okay fellow Albertans I just got my house insurance for 2014 and it has gone up by 29% I have been using TD insurance for both my car insurance and house insurance. I have never made any claims and since 2011 it has gone up 10.9% then 20% and now 29%! At this rate it will be up another 38% in 2015.
    I know the rationale is that because of the flooding that rates have to go up. Well I don't live in a flood prone area and i have not made any claims so why should I be paying so much?
    Anyways there is my rant for the day and if you guys can give me any idea of other insurance outfits I could look at it would be appreciated.

    PS: have a Merry Christmas!!

    Cheers
    Byron

  • #2
    Byron

    The rational behind home or car insurance is that the insured share the risk and cost thats why we don't have flood insurance. If everyone shared the same risk for flooding we would have it. In Alberta the main culprit is HAIL. Ask 10 people in Alberta if they have had a hail claim in the past 10 years! The average hail claim I process is around $30,000. You can reduce your premium by increasing your deductible, most insurance companies in Alberta will offer two deductibles one for Hail and one for other losses. you could increase your hail deductible to say $5000.00 and set your other loss deductible at $1000.00 and probably save considerably on your premium. Ask your broker.

    BTW I Love Hail !!!!!!!! B)

    Have a merry Christmas

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    • #3
      I have had good luck with RBC Insurance. They got all my business, 4 years ago, when they beat my long time insurance providers yearly premium by $650.
      Since then we have had the hail storm from hell and RBC was good through out it. Will wait and see what my insurance premium for 2014 says.

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      • #4
        Our insurer is Intact, never claimed for hail, floods, or any other damage over the last 35 years and our renewal on December 1st included a 30% increase. Met with our agent and the explanation was similar to Morty's.
        The good news is we did NOT suffer any flood damages!

        Merry Christmas
        Henri
        1980 TR8
        1971 MGB GT

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