It is my belief that you may be paying too much for your home insurance. I know I was paying too much for many years. I just simply paid the premium without question. In comparing the costs with a number of companies I discovered I could reduce my premium from $2500 to $1150 for the same coverage. That was a year ago. I had a new quote from my original company, and they wanted $4100 this year. The combined savings over the two years was $3939.
I was with Peace Hills and was paying $2518.00.
I now pay $1215.00 for the same coverage.
A savings of $1303.00!
Get a quote from at least 5 companies to see how they compare with your premium cost. If you have had good luck with your company regarding claims, and the price is comparable I would recommend staying with them. If the savings are significant, however, consider changing companies.
Unfortunately, I can't recommend any particular company as to their service and reliability. I have discovered that cost seems to have little to do with their claims record in many cases.
Below are the quotes I received from the 9 companies I contacted.
1. Peace Hills 2518.00
2. State Farm 1215.00
3. Interact 2196.00
4. Prembridge 1396.00
5. Meloche Momnox 1597.00
6. Morgex 2533.00
7. Cooperators 2790.00
8. Allstate 1416.00
9. Western Financial 1632.00
Here are some comments sent into "Insureye" - an independent review board of the following companies, and their ratings by the board.
TD insurance - 2.1 out of 5 stars - worst ever, overpriced, TD sent me to the curb, terrible company, horrible experience
Intact - 2.1 out of 5 stars - horrible experience, they are not on your side, avoid this company, they don't care
Cooperators - 2.4 out of 5 stars - worst experience hands-down, robbed and dumped, crooks
Peace Hills - 1.1 out of 5 stars - simply don't buy, crooked insurance company, horrible, no settlement yet, over a year
Aviva -1.9 out of five stars - Stay away, horrible customer service, dishonest and unethical, overcharged, worst service
Wawanesa - 2.0 out of 5 stars - Rip off company, fake insurance, nightmare
Allstate - 1.6 out of five stars - money-hungry sharks, terrible business ethics, stay away, unethical, bad service, worst insurance ever
AMA - 1.6 out of 5 stars - thieves, rip off, AMA sucks, worst ever!!!!!
It is widely believed that the moreloyal you are to an insurance company the better the rates. In fact, in most cases the opposite is true. So I would strongly recommend that you compare the rates of at least five companies. You might be amazed at what you find. Insurance companies are looking after their bottom line not your interests as a customer.
Disclaimer: I believe the information contained on this page is true and accurate, however as I have no expertise in the insurance industry, therefore I take no legal responsibility for the recommendations I make on this page.