Home Insurance Premiums

[albertGQ]

So I just got my home insurance renewal notice from TD Meloche Monnex.

It went up a whopping 40% (from $545 to $763). Not only that but my deductible went up 100% (from $500 to $1000).

The lady told me it went up due to the hail claims in 2012. So you know next year will probably see higher increases due to the flood.

Anyone else face similar increases? I already bundle with my car insurance and I'm a UofC Alumni.

I even increased my deductible to $1500 to save myself about $30/a

[G-ZUS]

Originally posted by albertGQ
So I just got my home insurance renewal notice from TD Meloche Monnex.

It went up a whopping 40% (from $545 to $763). Not only that but my deductible went up 100% (from $500 to $1000).

The lady told me it went up due to the hail claims in 2012. So you know next year will probably see higher increases due to the flood.

Anyone else face similar increases? I already bundle with my car insurance and I'm a UofC Alumni.

I even increased my deductible to $1500 to save myself about $30/a

TD sucks balls :facepalm: My car insurance with them went up from 760ish to 997/year. They couldn't really give me a straight answer as to why when I called and asked them why. I ended up calling around and everywhere else was cheaper from 591-800's. ended up going with another company for $620/year :rofl:

[schocker]

Due to the hail, my TD MM house insurance went from $375 to $500. I think my deductible stayed the same. This was April 2013
I had auto insurance with them until they wanted me to renew my policy on my volvo with no collision to be as high as I was paying when I had my g35 :rofl:

[Env-Consultant]

I have my home and auto on the same policy through RBC. I've had 3 accidents - 2 deer and one story where I drove through a garage that I'd rather not tell here :banghead:

With that said, they were incredible to deal with during each claim process and I never had any issues. In terms of pricing, just go online and get a shitpile of quotes. I was using a local broker from just outside of the small town I grew up in before moving to YYC - my truck insurance at that time was more than my/my girlfriend's truck + car and our house currently area :facepalm:

[roopi]

Originally posted by Env-Consultant
one story where I drove through a garage that I'd rather not tell here :banghead:


Lets hear the story since you already mentioned it. :D

[ercchry]

mine went up too... no claims, not in a flood zone... :dunno:

[Env-Consultant]

Originally posted by roopi


Lets hear the story since you already mentioned it. :D

It's abso-fucking-lutely ridiuclous, but at this time, we can laugh about it - lucky as piss nobody got hurt.

I was checking on my buddy's house one evening while he and his wife were away in Mexico. They live on an acreage outside of Calgary with a long laneway and there was a huge dump of snow that day. Prior to that, it had melted and froze, resulting in pure ice being present under the snow. It was impossible to see where the laneway edges were and about 20 feet from the garage, my rear driver-side tire slipped off the driveway into some really deep snow. Being that I was out there by myself and didn't want to shovel myself out for an hour, I punched the gas to give myself a quick shot up and out of the "ditch" while I still have some forward momentum.

This is where it gets fun. I had my Ford factory rubber floormats in - I do oilfield work and would never consider cloth/fabric ones - they're about 1/2 to 3/4 of an inch thick. I had just cleaned them 2 days before that and stuck it back on the hook near the driver's seat. Sometime between then and that fateful evening, that clip broke.

Like I said, I use my truck for work and am constantly in/out of it, so maybe it got caught on my boot/pulled and ripped the securing hook out. Long story short, the floormat slid up under my gas pedal at some point and when my gas pedal was near floored, it caught on it and didn't release. So immediately the fucking thing redlines - now I'm about 10 feet from the garage and hammering the brake to no avail. I smash my gear selector forward once, twice (you need to pull the handle/button in to move it - at the time, my brain wasn't working so methodically) - now I'm in the garage, smashed a shitload of studs out of the wall, push a fridge through the back wall, destroyed a plethora of tools. The impact must have knocked my foot against the pedal and stopped it finally.

Turned it off. Pulled the truck out of the garage, of course, after removing the miter saw wedged underneath it. Cleaned up. Called insurance. Figured out why the pedal got stuck/how it did. Replaced hook + floormat.

Waited until my buddy's flight got in 2 days later and called him at the airport. I literally puked a few times from the Friday it happened until the Sunday he got home - he's an awesome guy, but I drove through his fucking garage. He didn't believe me at first and once I convinced him, he laughed his ass off. Very lucky he's a good guy.

My insurance covered everything. He had to go through his home insurance so he could get all of his tools 100% replaced (via cash) - they even replaced his shitty old Christmas lights from a garage sale with cash value for present day LEDs. My insurance then paid his insurance company.

In the end, my truck had about $8000 worth of damage - the garage door ended up in the back of my truck, but there wasn't any major body damage - mostly scratches. He ended up getting a new garage door, new trim, a pile of cash for his tools + fridge, all of the studs replaced along the walls, etc - it wasn't a bad deal for him in the end, more of a headache.

It really sucked though. I get that I should've kicked the gas pedal quickly or just turned the keys off, but until your in that situation, you don't really play that scenario out in your head.

[roopi]

Sounds like a scary situation but makes for a great story to laugh about now. :rofl:

[ercchry]

ha! thanks Bill! property coverage is now not increasing next year :bigpimp:

[eblend]

what is everyone paying for house insurance? I remember when I first got house insurance it was like $35 per month....my parents just got a new house (had a condo before) and their house insurance is about $100.....went up $20 since the last few month before just being renewed.

[slammedfc]

Originally posted by Env-Consultant


Long story short, the floormat slid up under my gas pedal at some point and when my gas pedal was near floored, it caught on it and didn't release. So immediately the fucking thing redlines -

had this happen in my 6.5 turbo deisel flat deck . was not fun, but i didnt hit anything luckily!

[Masked Bandit]

The other thing everyone with TD / MM who renew after October 1st need to watch out for is a $15,000 cap on all sewer back-up claims. I don't know if / how they are informing clients but when doing quotes we point it out to clients and they had no idea. I'm not 100% sure but I think AMA is following the same general plan of attack.

[Masked Bandit]

Originally posted by ercchry
ha! thanks Bill! property coverage is now not increasing next year :bigpimp:

You're welcome!

FWIW, to all the people out there that own houses (not condos), it's going to get a lot worse before it gets better. We (brokers) are being told by the insurance companies to expect increases of anywhere from 15% - 30% per year for the next two, maybe three years. Don't shoot the messenger, it's just what we're being told.

[Tik-Tok]

Originally posted by Masked Bandit


You're welcome!

FWIW, to all the people out there that own houses (not condos), it's going to get a lot worse before it gets better. We (brokers) are being told by the insurance companies to expect increases of anywhere from 15% - 30% per year for the next two, maybe three years. Don't shoot the messenger, it's just what we're being told.


I think it's awesome that it's completely legal for insurance companies to charge people with no claims more every year, to cover the costs of people with claims. All the while posting annual profits.

Talk about socializing losses, and privatizing profits.

[nzwasp]

Originally posted by Tik-Tok



I think it's awesome that it's completely legal for insurance companies to charge people with no claims more every year, to cover the costs of people with claims. All the while posting annual profits.

Talk about socializing losses, and privatizing profits.

Its like the alberta govt pension plan except we wont see any benefit when we retire.

[403Gemini]

Originally posted by Tik-Tok



I think it's awesome that it's completely legal for insurance companies to charge people with no claims more every year, to cover the costs of people with claims. All the while posting annual profits.

Talk about socializing losses, and privatizing profits.

FWIW, Insurance companies bleed money with property insurance, they aren't profitable at all from property premiums. Instead they make the majority of it from their auto premiums. Least that's how it was about 4-5 years ago. And yes, the point of insurance is to spread the risk/loss among the many for the "few" that are impacted. If anything, blame your neighbors who report anything from a toilet over flowing to "my neighbor got a new roof, I demand a new one too, even though mine is only 2 years old and doesn't actually have damage!"

[guessboi]

Yes the increases right now are a result of hail claims from the past few years.
It will go up even more when they factor in the flood claims from this year.

Direct writers - TD, CDI, etc all have a cap on sewer back-up claims.
Also make sure you guys know what you are covered...house insurance is not as easy to understand as auto insurance.

[403Gemini]

Originally posted by guessboi
Yes the increases right now are a result of hail claims from the past few years.
It will go up even more when they factor in the flood claims from this year.

Direct writers - TD, CDI, etc all have a cap on sewer back-up claims.
Also make sure you guys know what you are covered...house insurance is not as easy to understand as auto insurance.

Especially water. Water is typically worded that all of it ISN'T covered, except for a few things that make it covered (sewer backup endorsement, or a sudden/immediate escape of water from a water fixture ie. a pipe) - leaky roofs/foundation , condensation, slow leaks like under your sink etc are things that aren't typically covered

[ipeefreely]

Originally posted by Masked Bandit
FWIW, to all the people out there that own houses (not condos), it's going to get a lot worse before it gets better. We (brokers) are being told by the insurance companies to expect increases of anywhere from 15% - 30% per year for the next two, maybe three years. Don't shoot the messenger, it's just what we're being told.
Is that all of Alberta or just southern Alberta? You guys have had way crazier storms than us!!! :nut:

[guessboi]

Originally posted by ipeefreely

Is that all of Alberta or just southern Alberta? You guys have had way crazier storms than us!!! :nut:

From what I heard...Yes all of Alberta

[Masked Bandit]

Originally posted by ipeefreely

Is that all of Alberta or just southern Alberta? You guys have had way crazier storms than us!!! :nut:

It will be primarily Southern Alberta but I suspect there will still be modest increases in Central & Northern Alberta. Some companies are taking bigger jumps than others and sooner than others but that's just the natural flow of business. Increase pricing is one thing but removal of coverage is what can really be dangerous.

[ipeefreely]

Originally posted by guessboi
From what I heard...Yes all of Alberta

Originally posted by Masked Bandit
It will be primarily Southern Alberta but I suspect there will still be modest increases in Central & Northern Alberta. Some companies are taking bigger jumps than others and sooner than others but that's just the natural flow of business. Increase pricing is one thing but removal of coverage is what can really be dangerous.
Ok, thanks for the heads up guys! :thumbsup:

I guess I'll take a look around come renewal time! :banghead:

[nickyh]

Just looked at my renewal notice with TDMM. Deductible raised to $1,000, monthly PAC increased $30 per month and a nice notice about limits to my policy. I'd like to see how much more the cars are going to cost come June.
Between all the new round of increases on the house, transit, utilities, food, fuel - there goes my increase.

Maybe it's time to shop around with my house and two cars.

[woovic]

Originally posted by nickyh
Just looked at my renewal notice with TDMM. Deductible raised to $1,000, monthly PAC increased $30 per month and a nice notice about limits to my policy. I'd like to see how much more the cars are going to cost come June.
Between all the new round of increases on the house, transit, utilities, food, fuel - there goes my increase.

Maybe it's time to shop around with my house and two cars.

Just got my renewal notice from TD Meloche Monnex. Premiums went up from $660 to $930, that's a 40% increase! I think I'll be shopping around too.

[Masked Bandit]

Originally posted by woovic


Just got my renewal notice from TD Meloche Monnex. Premiums went up from $660 to $930, that's a 40% increase! I think I'll be shopping around too.

What about the sewer back-up coverage, is it capped at $15,000 as well?

[woovic]

Originally posted by Masked Bandit


What about the sewer back-up coverage, is it capped at $15,000 as well?

Yeah, it looks like it's capped at $15,000.

[Alterac]

My Premiums went up to $2000 /year! from 1400.

Water backup is capped at 30k, and there are different deductibles for each category now. (2500 for water backup, 2500 hail/wind, $1000 otherwise.)

Intact insurance btw.

I need to shop around, my current broker must suck ass if you guys are paying < $1000 for home ins.

[guessboi]

Intact doesn't cap sewer backup coverage unless you had a flood claim / or in a flood zone from what I know.

On a side note, Desjardins bought out State Farm Canada today.

[Masked Bandit]

Originally posted by guessboi
Intact doesn't cap sewer backup coverage unless you had a flood claim / or in a flood zone from what I know.

On a side note, Desjardins bought out State Farm Canada today.

Not yet, but wait for the announcement sometime this year. It's phase two of their wonderful plan that started with peril specific deductibles.

[Masked Bandit]

Originally posted by woovic


Yeah, it looks like it's capped at $15,000.

Add in the fact that TD-MM tried to deny any & all sewer back-up claims during the flood this year and that coverage is pretty much useless. They eventually back tracked due to all the bad press but never actually changed their wordings in the end. AMA, RBC & State Farm took the same path as far as I know.

[lilmira]

Holy mothaf#$kers! Pre-hail storm, my premium was 565, then 876, just got my renewal, 1227! They didn't even send me a jar of lube for courtesy.

[Sugarphreak]

...

[schocker]

Originally posted by Sugarphreak
I solved my TD problem with a call to Bill


....my insurance has never been healthier, affordable and excellent coverage! Thanks Bill! :thumbsup:
Got my renewal today, went from $500 to $680 :rolleyes:
Will give Darren a call. My TD started at $375 4 years ago on this house :rofl:

[lilmira]

Yep, I'm with TD too. Will probably get a hold of the insurance gurus here to look at alternatives. Total BS to go double in two yrs. I'm ok with the first jump since I had a hail claim but not again with an even bigger jump. Now I'm paying more on the house than on my car WTF.

[16hypen3sp]

I really do not understand how anybody is paying LESS than 1000/year...

What kind of coverage do you get for less than 1000?

Mine is 1200/year... and this is my first year as a mortgage owner so I don't have any past numbers to gauge from.

[codetrap]

Originally posted by 16hypen3sp
I really do not understand how anybody is paying LESS than 1000/year...

What kind of coverage do you get for less than 1000?

Mine is 1200/year... and this is my first year as a mortgage owner so I don't have any past numbers to gauge from. Mine is $947/year and it's the Homeowner. Gold Solution™

[SkiBum5.0]

Why does anyone use TD MM? They tried this shit years before the flood when they were experiencing cash flow problems. They increased all their rates and reduced coverage in 2010. I've never used them but my wife had them and was blindly renewing.
The simple answer to this is to renew else ware.

[Masked Bandit]

Originally posted by 16hypen3sp
I really do not understand how anybody is paying LESS than 1000/year...

What kind of coverage do you get for less than 1000?

Mine is 1200/year... and this is my first year as a mortgage owner so I don't have any past numbers to gauge from.

There are a ton of variables to home insurance not the least of which is your personal credit score. I've seen swings of up to 30% just on that alone. We've seen more changes (and premium increases) on home insurance in the last three years than I had seen in the previous 12. It's nuts. Most single family comprehensive homewowner policies are now between $900 - $1300. Obviously there are exceptions on both ends of the spectrum, higher & lower.

[ercchry]

Originally posted by 16hypen3sp
I really do not understand how anybody is paying LESS than 1000/year...

What kind of coverage do you get for less than 1000?

Mine is 1200/year... and this is my first year as a mortgage owner so I don't have any past numbers to gauge from.

not everyone has a detached home? more history, better pricing?

mine was over $1k, but maskedbandit reran my numbers and got it dropped this year, i have guaranteed replacement coverage so its all good

[codetrap]

Originally posted by SkiBum5.0
Why does anyone use TD MM? They tried this shit years before the flood when they were experiencing cash flow problems. They increased all their rates and reduced coverage in 2010. I've never used them but my wife had them and was blindly renewing.
The simple answer to this is to renew else ware. You can't renew *else ware*. I did try Bill, but we couldn't make the numbers work due to an at fault collision with a rock a couple years ago. So, it's cheaper for me to stay with TDMM. Considering that up until this renewal, my house insurance was only $547, I think I did good. My auto is better than anywhere else will give me because of "accident forgiveness" in TDMM.

Does that answer your question?

[16hypen3sp]

Originally posted by Masked Bandit


There are a ton of variables to home insurance not the least of which is your personal credit score. I've seen swings of up to 30% just on that alone. We've seen more changes (and premium increases) on home insurance in the last three years than I had seen in the previous 12. It's nuts. Most single family comprehensive homewowner policies are now between $900 - $1300. Obviously there are exceptions on both ends of the spectrum, higher &amp; lower.

So mine is pretty much where it needs to be then. Aviva wanted 2400/year... to which I said F*** that. Kinda weird. Aviva gives me deals on my vehicles, but wanted so much for home insurance.



Originally posted by ercchry


not everyone has a detached home? more history, better pricing?

mine was over $1k, but maskedbandit reran my numbers and got it dropped this year, i have guaranteed replacement coverage so its all good

More history? I guess I can maybe see that. But detached home? I thought insurance was higher on attached homes because they are connected structurally and the neighbours might cause a fire and make your place go up pretty quickly.

On the other hand, detached homes are so close together nowadays that they too are probably gonna go up quickly as well. I dunno. Guess it depends on how fast the FD gets there.

[Masked Bandit]

Originally posted by 16hypen3sp


So mine is pretty much where it needs to be then. Aviva wanted 2400/year... to which I said F*** that. Kinda weird. Aviva gives me deals on my vehicles, but wanted so much for home insurance.



Something is definitely off there.

[mr2mike]

Any update on these premium increases. Specifically with Aviva?
I'm with Touchstone so maybe I should just give you guys a call?
Would you be able to estimate my upcoming increase (if there is one)?

[yellowsnow]

Just got off the phone with Darren at touchstone yesterday. TDMM wanted $1600/yr on my home insurance. Darren was able to get me just over $1k with better coverage. :clap:

[freshprince1]

Originally posted by yellowsnow
Just got off the phone with Darren at touchstone yesterday. TDMM wanted $1600/yr on my home insurance. Darren was able to get me just over $1k with better coverage. :clap:

So I am in the exact same situation with TD-MM as the OP. Would definitely welcome a call from Touchstone to discuss my options.

[Masked Bandit]

Originally posted by freshprince1


So I am in the exact same situation with TD-MM as the OP. Would definitely welcome a call from Touchstone to discuss my options.

Well we don't normally go randomly calling people off the internet...lol. PM me your contact info and I'll have one of our brokers get in touch.
:thumbsup:

[ExtraSlow]

Working with Touchstone as well. Looks like I'm also gonig to be making the switch.

[lilmira]

TDMM is out, Touchstone is in. Chalk it up for another :thumbsup: .

[dansmith11]

are there any penalties for changing house insurance mid year? im with avivia ... and I think im getting hosed. im paying 130 a month.. and my house is only worth like 300k :P seems excessive.

also, is there any kind of like inspection or anything that I need to provide the new company? when I bought the place im pretty sure I just gave the insurance company the mls listing for the place and that was it. ..is that the same process when I move to a new company?

[killramos]

Wow just read through this thread.

I just upgraded my coverage to platinum plus (cheaper than insuring my fiances engagement ring oddly enough).

I'm paying about 860 a year on a duplex with TD should I be expecting an ass raping as well (1k deductible and my cars are on the same plan w/ apega group plan).

My coverage should expire July 3rd...

[ercchry]

Originally posted by killramos
Wow just read through this thread.

I just upgraded my coverage to platinum plus (cheaper than insuring my fiances engagement ring oddly enough).

I'm paying about 860 a month on a duplex with TD should I be expecting an ass raping as well (1k deductible and my cars are on the same plan w/ apega group plan).

My coverage should expire July 3rd...


$860/month for home and auto coverage?! do you have 8 cars insured or something?! did you kill someone while drunk?! :nut:

[killramos]

Originally posted by ercchry



$860/month for home and auto coverage?! do you have 8 cars insured or something?! did you kill someone while drunk?! :nut:

Sorry, I'm retarded. 860 annual not monthly. Not including auto.

[schocker]

I have some super special TDMM plan so I am going to stick with them but I got my sister set up with touchstone for her car insurance. :thumbsup:

[ExtraSlow]

You should check your sewer backup coverage for the "Super Special" TDMM plan. If it's like a lot of them, it's changed this year, and is now awful. your special plan may not be special at all.

[lilmira]

pretty much a big fat lady in a thong :rofl:

[Masked Bandit]

Originally posted by killramos


Sorry, I'm retarded. 860 annual not monthly. Not including auto.

If you renewed last July you missed out on the latest round of price increases and coverage clawbacks. I wouldn't worry too much until you get your renewal (should be sometime in May) but like ExtraSlow mentioned, watch for the sewer back-up coverage (or non-coverage really). They cap it at $15,000 which is pretty much useless. Lots of people didn't even notice. I think they started with that junk October 1/13 so anything that renews after that is pretty piss poor.

[Masked Bandit]

Originally posted by dansmith11
are there any penalties for changing house insurance mid year? im with avivia ... and I think im getting hosed. im paying 130 a month.. and my house is only worth like 300k :P seems excessive.

also, is there any kind of like inspection or anything that I need to provide the new company? when I bought the place im pretty sure I just gave the insurance company the mls listing for the place and that was it. ..is that the same process when I move to a new company?

999 / 1000 you won't need any kind of inspection. And on the extremely rare situation that an inspection is needed, the insurance company usually conducts & pays for it. $130 a month might be a bit high but as I've mentioned before, lots of variables could swing it that way.

[killramos]

Originally posted by Masked Bandit


If you renewed last July you missed out on the latest round of price increases and coverage clawbacks. I wouldn't worry too much until you get your renewal (should be sometime in May) but like ExtraSlow mentioned, watch for the sewer back-up coverage (or non-coverage really). They cap it at $15,000 which is pretty much useless. Lots of people didn't even notice. I think they started with that junk October 1/13 so anything that renews after that is pretty piss poor.

Alright we will see how it goes then. No use worrying until I actually get the bill.

Thanks for the advice.

[schocker]

Originally posted by ExtraSlow
You should check your sewer backup coverage for the &quot;Super Special&quot; TDMM plan. If it's like a lot of them, it's changed this year, and is now awful. your special plan may not be special at all.
My plan covers $15k. I went through it with Darren and since I do not have a developed basement it is OK, and I will switch it if and when it increases greatly or I develop the basement.

[redblack]

Im making the switch to touchstone from melloche this month.... between home and auto im saving ~$1400 bucks and I get way better home coverage.

Touchstone :thumbsup:
TD MM :thumbsdow

[Masked Bandit]

Originally posted by schocker

My plan covers $15k. I went through it with Darren and since I do not have a developed basement it is OK, and I will switch it if and when it increases greatly or I develop the basement.

Keep in mind that during the floods last year TD denied all flood related sewer back up claims regardless of what the policy limits were. It was only after a week of severe media pressure that they turned around and paid some of the claims. Even after that though they still haven't changed their wordings and have come out and said that if it happens again they won't fold under public pressure. For all intents & purposes, if your sewer backs up and you're with TD, you're pretty much on your own.

[Toma]

OK... I just renewed with TD mm. Platinum package, includes all the mysterious dissapearance, jewelery to 12k, even if you drop your TV moving it.

New roof last fall that I paid for. Policy is 1420$ a year.

She said most popular package was their 'silver' and it was only 250,less.

This seems stupid high for a forest lawn bungalow, 1100 feet, suited basement. No claims. I also have my cars with them.

They have replacement on the house at 290k which seems really high.

What should I be paying?

[codetrap]

Originally posted by Toma
mysterious dissapearance..... forest lawn bungalow
What should I be paying?

Be happy they would give you insurance. :D ;)

[ExtraSlow]

Toma, if you want a quote on insurance, you should ask someone that sells insurance. Call up touchstone.

[Masked Bandit]

Originally posted by Toma
OK... I just renewed with TD mm. Platinum package, includes all the mysterious dissapearance, jewelery to 12k, even if you drop your TV moving it.

New roof last fall that I paid for. Policy is 1420$ a year.

She said most popular package was their 'silver' and it was only 250,less.

This seems stupid high for a forest lawn bungalow, 1100 feet, suited basement. No claims. I also have my cars with them.

They have replacement on the house at 290k which seems really high.

What should I be paying?

Don't forget about your sewer back-up coverage most likely being capped at $15,000. AFAIK they run that on all their different policy packages. However yesterday for the first time in many months, someone told me that TD gave them the option of putting their SBU coverage back up to $100,000. Of course they still won't cover any claims if another June 2013 happens.

[viff3r]

Another TDMM customer here. 32% premium hike, 15k sewer backup cap, etc etc. When I get some time I will defintely be calling da bandit.