Home/Property Insurance Question

[quantass]

I'm with Economical Insurance and have them insuring all 4 homes and 2 vehicles. Despite all that i know I'm paying too much, at least for the property insurance.

I would like to investigate on my own for the best price rather than leave it up to the agent. With respect to the homes I've tried getting a quote from RBC but it asks a few questions I'm not aware of: the square feet of the home, the year the home was built, cost to rebuild property, etc. I put in a request to my agent but he normally takes weeks to get back to me. In the meantime any recommendations on where to find this information? I live in Ontario.

And any recommendations on a home insurance provider to check out?

Thanks

[coolspot]

Your agent takes WEEKS to get back to you?

That's abnormal; the agents I've dealt with reply in 24 hours top - usually in a couple hours if it's during the middle of the day.

[Pete_Coach]

I'm with Economical Insurance and have them insuring all 4 homes and 2 vehicles. Despite all that i know I'm paying too much, at least for the property insurance.

I would like to investigate on my own for the best price rather than leave it up to the agent. With respect to the homes I've tried getting a quote from RBC but it asks a few questions I'm not aware of: the square feet of the home, the year the home was built, cost to rebuild property, etc. I put in a request to my agent but he normally takes weeks to get back to me. In the meantime any recommendations on where to find this information? I live in Ontario.

And any recommendations on a home insurance provider to check out?

Thanks
You own the houses and you do not know how big they are, when they were built and what it would cost to re-build? Are you for real? How could you buy them without knowing that, it is on your sales documents.
How can they insure a house without knowing what they are insuring? Oh and, it is not your property they are insuring, it is the house and contents. The property will still be there if something should happen, it just needs to be....guess what...rebuilt.
Get a broker, he will have many companies to deal with. Be aware, he also needs to know those answers.

[sixer]

Just make sure when your getting quotes on the homes it's the same type of policy comprehensive or broad AND most importantly the insured building value is the same.

Your not really getting a cheaper rate if Company A is assessing value and your premium at $400,000 value and Company B is doing $325,000.

Don't be fooled by this.

ps. RBC is a joke and they honestly asked you how much to rebuild your house? lol, they need to calculate that info based on all of the info you tell them. But again, make sure your comparing apples to apples.
Also, Economical is one of the best in terms of taking care of you if you have a claim. You'll know that if you've ever had one.

[Beachdown]

You may be paying more for home insurance, but it may turn out you're doing well on the auto side. If you separate them, you'll pay more (over all) than you do now. Find out how much your car insurance will go up if you remove the home insurance from the equation.

[CSK'sMom]

You may be paying more for home insurance, but it may turn out you're doing well on the auto side. If you separate them, you'll pay more (over all) than you do now. Find out how much your car insurance will go up if you remove the home insurance from the equation.

+1! We've just gone through this over the past week. We ended up choosing to pay $300 more for our improved home insurance policy to get $900 in discounts on the auto policies.