# Best home insurance providers - low rates vs. coverage



## Trump (Sep 8, 2016)

I did a search but couldn't find any threads discussing this (and apologies if this should be in the 'frugality' forum).

Who is everyone using for home insurance providers these days? What sort of rates are you paying and for how much coverage (basic home type/location details helps)?

I've been trying to get some ballpark rates for a possible new home out in BC and the rates between providers (given similar coverage) seems to vary pretty wildly - from around $75/month with Square1 to over $200/month with Big 4 providers. 

Any tips/tricks in terms of getting lower rates, more appropriate coverage, etc?


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## Spudd (Oct 11, 2011)

Have you tried Kanetix.ca? That's usually my first stop. If you have any sort of affinity group (e.g. you're an engineer, or a graduate of a post-secondary institution) you might be able to save on rates by telling them that, as well. For me, TD insurance is cheap because I'm a member of an affinity group they give discounts to.


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## MrMatt (Dec 21, 2011)

Spudd said:


> Have you tried Kanetix.ca? That's usually my first stop. If you have any sort of affinity group (e.g. you're an engineer, or a graduate of a post-secondary institution) you might be able to save on rates by telling them that, as well. For me, TD insurance is cheap because I'm a member of an affinity group they give discounts to.


Get a broker, or go through a group if you can (alumni and professsional groups have the best rates)


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## birdman (Feb 12, 2013)

I regularly shop my insurance and find that Family Insurance to be the most reasonable for my needs. A simple Google search will show the brokers near you.


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## jayvbass (Sep 21, 2016)

You need to compare a few insurance providers before deciding on one, each one of them will be slightly different from each other, go for the one who meets all your demands.


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## sags (May 15, 2010)

We have had our home insurance policy with Economical for more than 30 years.

No problems, but all we have done is send them money. No money has ever gone the other way.

We have never made a claim and from reading different insurance company review websites, that is where the rubber meets the road.

Any insurance company will take your money, but you want to be assured that you will receive good service if you have to file a claim.

Insurance isn't just about the premium. It is also about the coverage. The two often go hand in hand with each other.

Make sure you know what is covered and what isn't. A company may offer "cheaper" premiums but limit certain coverage.

I would suggest to Google around, and talk to people who have made claims to see how their claims were handled, and then decide.

Some companies offer discounts for combined property and auto insurance as well.


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## sags (May 15, 2010)

While on the topic of insurance, my broker called and advised us that in Ontario the coverage for personal injuries have been lowered.

A client must opt to increase the coverage to retain the historic amounts, or increase them.

We were given several options and decided to take the "all injuries" option for an extra $9 a month.

It adds an extra million dollars to all auto personal injury claim coverage.

Just an advisory to people in Ontario to make sure they know of the changes to the law.

They took affect in July and old coverage is continued until the next renewal date.


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## Trump (Sep 8, 2016)

Just to follow up - I went with TD Meloche. After comparing rates through Kanetix, then searching a few providers for a SFH in BC - including Square One, BCAA, Westland and a couple others, there was really no contest. At the risk of sounding like a shill, TD was substantially cheaper for the same (and in some areas, better) coverage, deductibles and limits. I haven't compared 'bundled' services (ie. auto and home) for discounts, but did have a university alumni association applied for a bit of savings.


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