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Discussion Groups: Shopping in Brandon/Westman


Topic: House Insurance suggestions
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Skinny Moon

2/13/2017 5:00:52 PM
Member since:
Aug 2007
Total posts:412
House Insurance suggestions

Have been dealing with portage mutual for number of years . Price keeps creeping up and up. I have never ever had a claim . Maybe this is the case for all insurance companies I'm not sure . Single family dwelling with replacement cost for approximately 900 ft.² I'm paying just over $600. Do you know of any companies with better deals or is this pretty reasonable ? Also got a notification this time with a new Overland water endorsement which will cost me another $60 per month ? I'm a long way from the river so I may decline that option .

Oddly enough

2/13/2017 5:06:06 PM
Member since:
Mar 2012
Total posts:83
Broker

You need to speak to an insurance broker - they figure out the best deal for you!

Fishin Guy

2/13/2017 5:16:12 PM
Member since:
Dec 2005
Total posts:5799
...

We use Co-operators. From being such long term claim free we are put on a $1500 deductible which lowered pricing huge. So if I need to make a claim my first is free and any beyond is the regular $1500 deductible. Not a bad price.

Brenda

2/13/2017 5:57:49 PM
Member since:
Jul 2005
Total posts:8592
Guild

we used Guild, sent all of our paperwork to Co-operators, so they could see exactly what we were covered for and what we paid.  
 
They came back with a higher price and less coverage, so back to Guild.

CG42

2/13/2017 6:42:35 PM
Member since:
Mar 2010
Total posts:404
I second Guild

They also compare companies to make sure you are getting the best deals and discounts.

TEN

2/13/2017 7:28:32 PM
Member since:
Jul 2006
Total posts:2115
-

Every year they seem to come up with a new excuse to raise rates. If I didn't have to, I wouldn't even have insurance. Best bet is to get the most basic insurance available with the highest deductible and only use it for a "devastating" claim.  
For years I listened to their spiel about paying for all the bells and whistles making sure everything was covered, paying for all the extras. Then one time I made two glass claims in a year, was told my rates were now going up cause I made a claim. I said isn't that why we pay for all this coverage, low deductible etc? They say well yes, but when you make a claim, you get rated or with too many claims they will cut you off entirely. So I learned. Basic insurance, self insure for the little stuff and use your insurance for claims that would otherwise break the bank.

Whatsisface

2/14/2017 10:02:16 AM
Member since:
Aug 2011
Total posts:66
House Insurance

To the original poster: $ 600 for a 900sq ft house seems pretty reasonable, at least to me..  
 
As far as $60 per month for overland water, I'm pretty certain that its $ 60 for the year, but a quick phone call to your broker will tell you that.  
 
As far as raising rates each year I try to look at it like this:  
 
-we all want our houses to increase in value each year.....  
-most professions wages increase some each year  
-the cost of materials seems to increase each year (lumber,shingles,wiring, cabinet, drywall etc)  
 
ergo: the insurance company would have to increase the amount your house is insured for a little each year to keep pace with inflation as we would all like to have our houses rebuilt to the same size etc. as we presently have.  
 
Also, take a look at your autopac, seems quite costly to insure a vehicle that is worth quite a bit less then all that is i:ncluded in house insurance.  
 
Just my two cents, in how I come to terms with it.

 
 
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