During the time we were looking for a house, I canvassed for the cheapest home insurance that we can get. That time TD insurance was the cheapest. It was several hundred dollars less than what my preferred insurer RBC. I prefer to get it from RBC because it is where I have all my financial accounts. I was happy with the premium I paid for the first year with TD insurance.
I found out that the happiness was shortlived. Like everything else, the premium increases every year. On this third year of my renewal, I again canvassed rates from other companies I did not call before. I got a quote that was $150 lower than what I was going to pay TD so I changed my insurance provider to CAA.
There is a caveat:My Home and auto will not be insured by TD insurance, which results in loosing my multi-product discount. In effect my auto insurance will go up in which based on my calculation would total more than what I would save by transferring my home insurance. However, come December when my auto insurance expires, I can move it to CAA as well. Hopefully, when that happens, I will get a multi-product discount and realize the savings I was anticipating from this change.
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