Buying Insurance Locally Can Save $100’s

Buying Insurance Locally Can Save $100’s
By Al Taylor

A couple of my neighbours told me they had experienced major savings as a result of placing their insurance with local brokers, so I started to investigate. They were right in my case.
My house and cars were with two different companies in the GTA, and over the years I had gotten great service, but every year the premiums increased, so maybe it was time to look around.

What I found was that local brokers had time to discuss my insurance requirements in detail and made some great suggestions that saved me almost $1000 a year in premiums!
By consolidating all my insurance needs with one company I got a discount, and further savings through a safe driving record and seniors’ discount (at least there is some advantage to aging). And, by paying in four installments instead of monthly, I saved carrying charges. Car insurance is lower risk in this area than 416/905 areas; however, you must have your car ownership address here to qualify.

You can also get a substantial discount by having a reputable company install an alarm/monitoring system to check on temperature, carbon monoxide, and smoke.
What I got was greater coverage at tremendous savings. There were many reasons for this, but choosing a well-qualified and experienced broker that can steer you through the maze of insurance offerings is crucial.

One thing that was interesting is that my former carrier considered my rural property served by a volunteer fire department a greater risk than my current insurer, which made quite a difference in the premium. Also, I was able to add my small watercraft to my homeowner’s policy, another significant saving.

The local broker suggested that, when my current policy came due, I should cancel the others on the same day so that everything would fall on the same anniversary date. That move gave me greater planning control and I could see my total insurance premiums.

Dealing with a broker who is familiar with local codes and conditions has made a great difference. If you still are with your city broker and live here you may well find dealing locally can save you significant premiums.

All in all, it is worth shopping around and comparing coverage and prices.