Insurance Rates Competitive or not?

[nubiwan]

While I realize we might not all be comparing apples to apples in terms of policies, I was hoping to get an idea of what kind of premiums people are paying across Canada for single family or 2 apartment rentals.



Here is what I pay The Dominion for two typical units I own. Interested to see what others are paying.



2400 square foot 2 APartment - electric heat - replacement value of $300K $2500 deductible - broad coverage premium $1702



2400 square foot 2 apartment - oil hear HWBB - replacement value $390K $2500 deductible - broad coverage premum $2047



Again, I realize there might be other factors that alter the premium, but this is broad coverage offered by The Dominion, and I am just trying to determine whether or not these numbers appear competitive.



Thanks

Nubs

 

[DonCampbell]

I have been able to save a bunch of money (an more importantly get better coverage - including extended vacancy, tenant vandalism, rental replacement etc) by using the team at Park Insurance. Here is the link directly to REIN Member exclusive program they offer REIN Insurance Their claim service has also been exceptional



Other Members have shared this experience with me as well.



Another good one that Members are enjoying is Phil Jarvie at Hub Insurance (not all Hub insurance offices have a REIN Program).



Remember, price isn't the only part of the equation. Proper coverage is more important.





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[Thomas Beyer]

Seems high. Follow Don's suggestion and give the Park Insurance guys a call. Being part of a group makes usually more sense as you get a bulk discount.

 

[Cory Sperle]

Don, would you recommend Park for multi family, or just single family units?