How do you guys pay for house insurance?

[GTi-RS]

How much do you guys pay for house insurance?

Just wanted to see what people pay as I noticed big difference in quotes.

thanks

[Chandler_Racing]

- 289k house value
- $1m liability
- 150k personal property
- 25k flood damage

$32/month with a TD Melonex

[GTi-RS]

Sounds pretty good.

The house I'm about to insure is $359,000 built in 1981 with much less personal property than yours.

[roopi]

$75.00/month - Don't know all the details at the moment so this is probably useless to you. With TD Insurance.

[Masked Bandit]

The problem with trying to compare house insurance policies right now is there are two different set ups out there right now. The insurance industry came up with a new way to value dwellings in the spring of 2008. If you take the exact same house and put it through both systems, the new one will spit out a value 50% - 80% higher than the old format. It's complete bullshit. Anything that was on the books prior to the spring of 2008 is generally grandfathered to the old format.

To complicate things there are tons of available discounts depending a multitude of factors. Young vs old, alarm vs no alarm, combining with auto vs stand alone, YOUR CREDIT SCORE....YES, SOME COMPANIES USE YOUR CREDIT SCORE FOR PRICING PURPOSES, whether or not you have a mortgage. So it's pretty much impossible to compare your policy with someone else's on the internetz.

[SJW]

I pay 35 bucks a month for my 1130 sqft rental house in Cranston.

42 bucks for my 2300 sqft house in Douglasdale.

[spike98]

I pay just under $30 for:

$215K house value
$60k personal property
$1mil Liability
$20k flood

Through my insurance company which i believe is through SGI

[luv2ride_bikes]

I pay around $39/month for their Comprehensive policy.

$525K house value

I use Canadian Direct Insurance.

[Tik-Tok]

$85 /month

House/personal property - $1 million ($500 deductible)
Personal Liability - $1 million
Water Damage - $50g

[Xtrema]

$75 /month

House - $500K
personal property - $350K
Personal Liability - $1 million

[Mar]

Wow, I pay $10 a month for mine. House is worth (well, bought for) $267,500 though we have less than $20,000 worth of goods in the house. I'm poor and don't own anything. :(

[ExtraSlow]

Age of house has a big effect on price. I moved from a 65 y.o. house worth ~330k to a 1 y.o place worth ~600k and my insurance dropped substantially. This was with TD Meloche Monnex

House insurance is very tough to compare. Just get a few quotes.

[urban.one]

Are you guys posting the insured value of your building or your perceived market value of your house and land combined?

[GTi-RS]

We're trying to stay with the current insurance company as they give us a good discount because of where my fiance works.

We already get great rates on the cars but want to make sure we get a competitive rate on the house too.

I have done an online quote on TD's website and got a quote of $48/month which sounds good to me and will compare that quote to our insurance company's.

I appreciate everyone's info on their rates. It does give me a better idea in general.

Thanks again!

[FiveFreshFish]

If you have a home alarm monitored for burglary and fire, you should get about a 20% discount.

[benyl]

I pay $20 / month but that includes a discount for having multiple policies. It would otherwise be $40.

[guessboi]

$26.25 per month for my house. 266,000 MSB replacement value (does not incl land) 500ded. built 2005. various discounts.

[UndrgroundRider]

Coverage: 355,000
Liability: 2 mil

Blue Circle: $910/year
AMA: $715/year

On the breakdown blue circle gave me, the additional 1 million in liability coverage costs an extra $19/year. I'm quite shocked at how expensive home insurance has become over the past little while.

Edit: Both of these include mutli-product discounts. I believe it was 5% for blue circle, but their auto insurance was higher, so there was no real benefit.

[luv2ride_bikes]

Originally posted by UndrgroundRider
Coverage: 355,000
Liability: 2 mil

Blue Circle: $910/year
AMA: $715/year

On the breakdown blue circle gave me, the additional 1 million in liability coverage costs an extra $19/year. I'm quite shocked at how expensive home insurance has become over the past little while.

Edit: Both of these include mutli-product discounts. I believe it was 5% for blue circle, but their auto insurance was higher, so there was no real benefit.
I actually find home insurance quite reasonble. You just have to shop around for the best deal.

[spikerS]

mine is just tenants insurance with declared values.

I pay about $18 a month.
1 million liability
250k in declared value
it even covers a "just got up and walked away clause" the CSR explained it like this. If you had a TV, and you came home one day, and it was just gone, and no signs that you have been robbed, pay your $500 deductible, and we will replace it. I told her I would call back next week. LOL

This is also with a discount with 2 auto policies through TD insurance.

[Weapon_R]

Holy fuck I am being hosed. I pay $240 every 6 months on a townhouse! TD just gave me an online quote of $214/year.

[UndrgroundRider]

Originally posted by Weapon_R
Holy fuck I am being hosed. I pay $240 every 6 months on a townhouse! TD just gave me an online quote of $214/year.

Yea, I did the TD online quote too and they came in at half of what Blue Circle did (Wawanesa).

[GTi-RS]

Well looks I got it all done now.

$500ish / year (almost 20% off because of the house alarm) and 15% discount bacause we have multiple cars insured as well

[Xtrema]

Originally posted by urban.one
Are you guys posting the insured value of your building or your perceived market value of your house and land combined?

No. You don't have to insure a lot. It's not going anywhere.

All you need to insure is liability, the cost to rebuild the same house, and personal valuables kept in house.

Make sure to do a photo document of all your possession and keep it off site (safe deposit box etc) so you have the complete list whenever you are unfortunate enough to deal with insurance.

[Zewind]

Im seeing alot of numbers here for pretty cheap. The one thing I would just like some people to check is what type of coverage you have.


Either All Risk or Name Perils.

All Risk = Better :thumbsup:

Also check if you have a Home Replacement Cost Endorsement on it.

[UndrgroundRider]

Originally posted by Xtrema


No. You don't have to insure a lot. It's not going anywhere.


The coverage will have to be AT LEAST the balance of your mortgage to keep the banks happy.

[spikerS]

Originally posted by Zewind
Im seeing alot of numbers here for pretty cheap. The one thing I would just like some people to check is what type of coverage you have.


Either All Risk or Name Perils.

All Risk = Better :thumbsup:

Also check if you have a Home Replacement Cost Endorsement on it.

I have a couple of different collections from sports cards to coins to some rare oddities. When I was asked the value of these, since i gave a rough estimate over what they would insure no questions asked, I just set a declared value, and have rates based off of that.

[spikerS]

Originally posted by UndrgroundRider


The coverage will have to be AT LEAST the balance of your mortgage to keep the banks happy.

that is what the CMHC is for. insurance for your lot is not required, no one can come steal it.

[broken_legs]

TD Home and Auto (aka Primum)

$490/year
250k property
50k lost rental income coverage
2 million liability
Flood/Water damage
$250 deducatble

[Redlyne_mr2]

$19 month cant remember the coverage but it was good enough to cover everything I own.

[97'Scort]

Tenant's insurance with TD Meloche Monnex, $230/year for the full deal (flood, fire, whatever), plus software/hardware computer recovery, some kind of property insurance that basically covers anything getting lost or stolen (ie, leave laptop on the bus by accident, and they'll replace it), AND full identity theft coverage.

[urban.one]

I understand that. I asked the question because it seemed like some people were posting the market values of the house and land combined.
Originally posted by Xtrema


No. You don't have to insure a lot. It's not going anywhere.

All you need to insure is liability, the cost to rebuild the same house, and personal valuables kept in house.

Make sure to do a photo document of all your possession and keep it off site (safe deposit box etc) so you have the complete list whenever you are unfortunate enough to deal with insurance.