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Old 2007-06-21, 05:23 PM
homie homie is offline
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Default Property insurance

Being a novice at home ownership, could anyone suggest tips on purchasing home ins..what coverage should include etc..and any reputable insurance companies,not brokers...

Any help is appreciated.

Thanks
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Old 2007-06-21, 05:29 PM
nik003 nik003 is offline
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I would not go for direct writers (ins. companies). In my opinion, having a broker makes more sense, the brokers usually deal with several insurance companies, they can remarket you at renewal and find you the better rate between the companies they have available, plus if you build a good relationship, you might be able to reap the benefits, whether it's a thorough review of your file, sugestions on how to make your policy better for cheap, or even fight for your case (or at least give you a fair representation) with the company in case of a claim. With a direct writer, you have to do all this, you have to shop around and remarket yourself, etc...
Me personally, I would not be bothered to do that.
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Old 2007-06-26, 10:38 PM
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canabiz canabiz is offline
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homie, i suggest you call around and go with the cheapest quote. It's amazing how the same house and specs can fetch different rates from different companies/brokers.

I am moving into a new house and I called my broker whom I am having my car insurance policy with and by all means I thought I would get some discounts because I have multiple policies but that's not the case. I went with another company which simply give me lower rates and that's the bottom line.

I asked my broker why there's such a big discrepancy and why she can't give me a lower rate than the other joint, considering that I already have vehicles insurance with her and she just said that's the way the system spits out the numbers. Fair enough but it doesn't mean I have to stick with her shop.

I hope we don't ever have to put in a claim but if we do, I will worry about it at that time. For now, every $20 or whatever I can save/month by going with the most reasonable shop can only help.

Cheers!
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Old 2007-06-27, 12:58 PM
homie homie is offline
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Default Home Ins

Thanks C,

i'm making some positive headway shopping around...Between work and the post sec institutionsthat i attended,i'm qualified group rates so i just have to compare them ans see what is best.
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Old 2007-06-28, 11:31 AM
GreyingJay GreyingJay is offline
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Quote:
Originally Posted by canabiz View Post
I am moving into a new house and I called my broker whom I am having my car insurance policy with and by all means I thought I would get some discounts because I have multiple policies but that's not the case. I went with another company which simply give me lower rates and that's the bottom line.
Good call. I may have to shop around more later. I was busy enough with other stuff that I wasn't too interested in shopping around, so I just called the company I'm already with for car insurance and took what they gave me (including some discounts to both for having the combo). I suspect I could be paying cheaper elsewhere, but haven't had time to look...
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