FelineNation

We are looking to purchase our first Canadian home. We have extensive history of home ownership in the UK, but only 6 months renters insurance in Canada and it looks like we may get screwed by this lack of history.

We had a similar issue with auto insurance until we found Johnsons who would take UK no claims into account.

Does anyone know of a company that will carry forward UK home insurance history?

Does anyone know what sort of percentage the previous home insurance history impacts on a typical quote?

Many thanks

dbd33

I only know how it works for one insurer but, in that case, lack of claims has no impact; claims result in a surcharge rather than the lack of claims resulting in a discount.

rivingtonpike

Same for us in BC. Our house insurance is based largely on the square footage of the house

withabix

Ours too.

Waiting to see what effect the inch of water in our basement before Christmas had - final payout on that claim was just over $24,000 but my monthly premium is still $97.

Policy has a monthly premium rather than an annual renewal I think, so not sure what will/will not happen to the premium...

Bevm

Did you get earthquake insurance? Last time we looked it was a very low additional amount and it could come in useful.

We had it when we lived in Victoria before, and we'll get it again when we return.

withabix

It might be quite low with a very high specific excess/deductible. Our policy has an Eaurthquake Deductible of $37,500, but I could select a Deductible of up to $365,000 to save me $240 per year

rivingtonpike

We don't have earthquake coverage any more. We're high up and in a house built to earthquake tolerances. The deductible was $80,000 minimum. We considered the premiums too high for the coverage. If more than $80,000 of damage was done to our house, likely a lot of people a lot worse off, as in national disaster, so we questioned likelihood of getting any claim paid out.