Moving to a new city, or even changing neighbourhoods can affect your insurance rate. We know you want to make an informed decision when you move, and part of that decision should include how the location can affect your home and auto insurance. Let’s talk about how your location can impact your rate and contact a broker to get a quote before you move!

 Age of your area and home – older homes may have inadequate sewage systems and dated wiring/plumbing making you at higher risk for sewer backup, fire, and flooding.

 Proximity to other buildings – homes that are closer together can be exposed to more risk with fire and other damage.

 Fire services – homes with a greater distance/response time of fire services can increase premiums because there’s more time for the fire to spread and cause greater damage.

 Traffic Patterns – urban areas typically have higher rates because there are more cars on the road and more intersections, increasingly the probability of a collision.

 Crime rates – if your area has a higher probability of theft or vandalism, you may pay a higher premium. You can take steps to lower your premium by improving your home security and adding anti-theft measures for your car.

 Environmental Factors – if you’re in an area with a higher risk of flooding near a lake or river, or wildfires near a forest, your premium may be higher, and it can affect your eligibility for certain coverages.

 Premiums are also approved by regulatory bodies in each province, which will cause prices across Canada to differ by province.

Make sure you weigh the cost of insurance when you move. Our BIG brokers would be happy to help you find the best insurance option for your new home!