Insurance Referral

[Habari]

I am looking for a competitive insurance coverage for my 14 single family properties in Hamilton and KWC, Ontario as I am not happy with Hub Aviva. Any referrals will be appreciated

Additionally, any referral to a mortgage insurance company will be appreciated as I generally waive mortgage insurance offered by banks. Am I better off getting life insurance for an amount equivalent to the total outstanding mortgages on all my properties including my residential property instead of a mortgage insurance?

Is it usual for an insurance company to request for updated lengthy information similar to applying for a new insurance when you have been with the company for a long time? I recently contacted HUB to provide me with a quotation for my properties that are not insured with them but with the Cooperators. Their response indicated to me that they were not keen in getting my new business and also responded with asking me to provide them detailed information on my existing properties covered with them before renewal of my policy. I prefer an insurance company that would go to the property and obtain the information.

 

[Thomas Beyer]

[quote user="Habari"]Am I better off getting life insurance for an amount equivalent to the total outstanding mortgages on all my properties including my residential property instead of a mortgage insurance?[/quote]

Life insurance is poorly termed. it is INCOME insurance. As such that is a function of your marital status, his/her employability and the # and age of kids you have. $1M 10 year term life insurance for a healthy male non-smoker in his 30's is about $50-80/month, for someone in their 40's around $100, in the 50's around $125-140 per month.

[quote user="Habari"]I prefer an insurance company that would go to the property and obtain the information.[/quote] Not one of them do that. YOU provide it all, such as size, age, material, distance to firehall, is the firehall manned by volunteers etc. yes .. very cumbersome and another reason why multi-family is more efficient after you own a few properties.

REIN has negotiated a deal for REIN members with Park Insurance. Give them a try: http://www.park.ca/content/rein/