Why are Rates on the Rise?

A lot has happened in the Ontario Home and Auto insurance industry this year.

We know our clients are intelligent and capable people who are looking for value when considering their insurance needs. We appreciate your business and are committed to keeping our rates competitive and our coverage superior.

The home and auto insurance market is ever changing. So many factors are considered in the pricing...

  • Severe weather brings us more frequent storms and more expensive clean up.
  • As we spend more on technology, our homes and vehicles are updated with these features making them more expensive to repair or replace.
  • Our basements are often finished with high end materials and contain costly furniture and electronics making water damage claims more significant.
  • More and more of our vehicles are fitted with back up cameras and windshields with built in technology for driver assistance making the average fender bender far more expensive to repair.
  • Insurance fraud affects everyone. In Ontario car insurance fraud costs each driver approximately $236 per year.
  • Medical expenses are becoming more expensive so whether you are injured in a car accident or someone hurts themselves on your property insurance companies have to factor those expenses in when calculating premiums.

Keeping us current on your life changes is so important to ensure you have the right coverage at the right price…

  • Have you retired?
  • Paid off your mortgage?
  • Installed an alarm system in your home?
  • Have you purchased any high value items?
  • Installed snow tires on your vehicle from November to March?
  • Do you have a child that is about to get their license?
  • Have your children moved out and no longer need to be listed on your policy?
  • Has your commute changed?
  • Have you replaced your roof, furnace or hot water tank recently?
  • Installed a back flow valve or sump pump?
  • Would you be able to increase your deductible?
  • Do you have other car or auto policies that could be bundled for additional savings?

We have excellent business relationships with our underwriters and our claims teams as they are our long term partners. Part of the benefit of working with a broker is that these companies all compete with each other for your business. Sometimes the right insurance company for you today may not be the right company for tomorrow. Keeping us up to date on the above changes helps us determine when it might be the right time to move your insurance to a different company.

We are available for a policy update or renewal review at any time throughout the year.

We appreciate your business and welcome your feedback and any questions you may have.