It turned out the insurance had increased by $35 per month, which is over $400 a year. So I called them up (PC Financial) and said that this was unacceptable and what could they do to remedy the matter? We both have clean driving records. No claims, nothing that would make our rates jump $400 a year.
Now I will say I called CAA Insurance up first to see what they would quote us, just to make sure that all insurance rates were not that expensive, and they were quoting around $1,300 a year. PC Financial was $1,700 a year.
The PC Financial guy got back to me with three more quotes from the people they deal with. The first one was for around $1,300, but the catch with that one was, they review your policy on a monthly basis and your payment can go up or down, just like it does if you have a variable mortgage.
As I said to the guy it's more likely to go up, rather than go down, so no thank you.
The other two options were no better.
We ended up going with CAA Insurance, and also we moved our house insurance as well. The price of the house insurance was similar to what we paid already, just a little cheaper. The car insurance came in at $1200 and something per year after all said and done. We joined CAA as well, which was another $140(?) but that will come in handy when we travel, so that gave us a discount as well.
Supposedly, insurance rates have jumped up all over the country/world. I am glad I questioned our renewal, as at the end of the day, $400 is better in my pocket than in the insurance companies pockets.
Have your insurance rates increased for your house and car?
