Insurance premium spikes

[littledan]

Just renewed my house insurance with td. They somehow "forgot" to add 2 loyalty discounts to my policy. So after calling in i got my rate cut by 100/year and added in more coverage. There was a term they use for jacking rates on people they expect to not price shop but i cant recall it.

[ercchry]

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Sad because I like my broker, and Intact has been helpful for an all my not-at-fault claims, but not a grand worth. A grand a year is real money.

Yeah… I had to do this too

[03ozwhip]

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Yeah… I had to do this too

So did I. But I couldn't ignore the price increases year over year.

[16hypen3sp]

Decided to drop Intact and look elsewhere. Ended up with Portage. Saved over $1300 per year. Just got my motorbike insurance renewal from Echelon. Increase of over $100 annual. First increase I've ever faced with them. No changes on my end.

[Proyecto2000]

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So did I. But I couldn't ignore the price increases year over year.

I also had to leave and I ended up saving a lot by going with Economical. I was told that now days they can be hard to deal with on claims so will see...

[killramos]

Do any “real” brokerages exist anymore that actually shops your policy around every year?

I don’t mean to shit on anyone’s hustle but I think there is real value to that role if someone was to do it.

If all brokers are these days are salesmen for a single company that gives them kickbacks for steering clients to them they are asking to be cut out of the equation.

[gwill]

I just switched insurance companies for my truck as my current insurer got bought out by bel Air direct. My truck renewal was high otherwise i wouldnt have shopped around.

I Checked out ama as it was super convenient to get a quote online. I tried broker link as they say they shop 4 or 5 insurers.

I wanted to move all my insurances at once. Truck, quads, rv and house.

Ama ended up way less expensive on the vehicle. House insurance was ridiculously higher. The rv quote was also cheaper but it's tied to your house insurance which I didn't switch.

Broker link ended up higher on the vehicle and house. Slightly less on quads and rv.

It's a total pain in the ass to try and shop around when you don't have time. Amas quote from their website was slightly higher by the time I moved across. They bullshitted a few reasons why but didn't believe them.

Currently trucks with ama. House stayed with old insurer for now as its way cheaper with them then the new quotes. Quad and rv with bell air direct as they rolled over to the new insurer as savings were not worth switching.

[gmc72]

We were with Intact for many, many years. We decided to try Touchstone Insurance and he saved us over $2600/year!! He signed us up with Penbridge.

[LilDrunkenSmurf]

TD for home/auto
Intact for bike insurance.

I need to shop around again. I might look at Hagerty for the S2k/Mini

[Tik-Tok]

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Do any “real” brokerages exist anymore that actually shops your policy around every year?

I don’t mean to shit on anyone’s hustle but I think there is real value to that role if someone was to do it.

Touchstone changes us every few years. Not sure if it's because of better rates for us or better kickbacks for them, but either way I usually call around every other year myself and haven't found anywhere that is of significant enough savings to bother swapping.

[bjstare]

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Touchstone changes us every few years. Not sure if it's because of better rates for us or better kickbacks for them, but either way I usually call around every other year myself and haven't found anywhere that is of significant enough savings to bother swapping.

Same here. Everywhere else I've looked is close enough that I'm content just giving Bill my business. That being said, it's probably about time for me to do another shop around.

[ExtraSlow]

Yeah, it's worth shopping around, but changing is a hassle. Pricing is so individualized it's impossible to compare between people.

[bjstare]

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Yeah, it's worth shopping around, but changing is a hassle. Pricing is so individualized it's impossible to compare between people.

I don't find changing is a huge hassle. The shopping is what gives me a headache. It takes a bit of effort to make sure you're actually getting the same coverage and all the details align so you can compare apples to apples between policies, not to mention you have to spend hours on the phone with insurance salespeople.

[LilDrunkenSmurf]

Yeah. If I could do it through the web and compare them all, that would be almost pleasant. Calling in, spending 30 minutes fucking around, trying to get all the details with an agent is the awful part.

[ExtraSlow]

Someone should tell insurance about the internet.

[LilDrunkenSmurf]

I tried to "remove" my s2k from storage on the TD website, because they have a big fucking button that says "remove from storage", and after "processing" for like 30s, it pops up, says I have special conditions on my account, and that I need to call in.

So now I have to call in, and they're going to try and push more products on me.

[dirtsniffer]

Asked my broker to get an auto quote for a new car I am looking at buying. High performance sports car, so I wanted to make sure the rate wasn't going to make me puke. Turns out it was too much work, told me to call him back if I bought it so he could set it up
. Weird, right? Or was it a weird ask?

[LilDrunkenSmurf]

Not a weird ask. I got quotes for potential cars as well

[SilverRex]

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Allstate has been the cheapest for me. Haven't shopped for 2-3 years now I think.

When I originally switched my auto was slightly cheaper but house was way cheaper, like 50+%.

I can vouch for Allstate as I recently switch from TD over to Allstate after TD keeps increasing my premium with absolutely no claim on my auto and house and I was with them for 20 years auto and 10 years home. Auto didnt change much but house went from 2400 to 1050.

[bjstare]

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Someone should tell insurance about the internet.

I'm with Pembridge, and there is no web portal. At all. They only use snail mail, which is always like 30-60 days delayed from any transaction. The only way to get real time status on receipt of my annual payment for example, is to call the broker. It's a joke.

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Asked my broker to get an auto quote for a new car I am looking at buying. High performance sports car, so I wanted to make sure the rate wasn't going to make me puke. Turns out it was too much work, told me to call him back if I bought it so he could set it up
. Weird, right? Or was it a weird ask?

I would move brokers because of that. Having someone a phone call or email away from getting info like that is basically the only value add of a broker.