Home insurance is one of the most crucial protections a homeowner can have, yet it often feels like a puzzle. What exactly does your policy cover? Are you fully protected? Is your current provider the best fit for your needs? And if not, how do you make a change?
Fortunately, CAA has an enthusiastic insurance team that is ready to assist Saskatchewan residents with all their insurance needs. We’re here to help you understand your policies and ensure you have the necessary coverage. If you're considering a switch when renewal time rolls around, we’ll guide you through the process and answer all your pressing insurance questions!
When is the Best Time to Switch?
Though you can technically switch anytime you want, the best time is always when your policy is up for renewal. When you switch mid-term, you can be subject to extra costs like a Short Rate cancellation, lost paid premiums, or administrative fees. These would be your responsibility to cover, so keep that in mind if you are unhappy with your current provider—it might be worth waiting it out until the end of your policy year!
Steps to Switch Insurance Providers
A good place to start is researching what the different providers are and what they can offer you! We have information about our home insurance on our website, but our team is also available to chat with you if you need more info.
Once you feel ready to make a switch, you can get your quote and policy info by following these steps:
- Gather your current insurance documents. These would include your current renewal policy and any alarm certificates and contents appraisals.
- Contact a CAA Insurance Risk Consultant. You can reach them on our website, by phone, send them an email, or come into one of our stores.
- Share your existing policy details. You’ll essentially want to compare things apples to apples. Let us walk through what our coverage for each part looks like compared to what you have currently.
- Provide detailed information about your home. The more detailed, the better. Here are some of the things we’d ask for:
- Year your home was built
- Square footage
- Type of flooring
- Amperage of electrical service
- Type of plumbing
- Age and type of shingles
- Age and type of furnace
- Updates made
- Any losses or claims
- Review quotes and finalize policy adjustments, such as additional endorsements. You will want to make sure you are content with the amount for your new policy, and that you have all the coverage you want.
- Work to finalize a switch at least 30 days before renewal to avoid a lapse in coverage. Even if the lapse would only be a couple of days, you never want to risk something happening to your home in that time! It’s better to prepare ahead of time so you’re ready to go when it’s time.
Key Considerations When Switching
Here are a few things to keep in mind as you consider making your switch:
- Policy Comparison: Ensure you are getting similar coverage types wherever you need them and ask about what else is available. Our Insurance Risk Consultants will help you find the policy that works best for you!
- Overlooked Coverage Needs: Many people will overlook adequate liability, contents, or specialized items like jewelry, art, or other collections. They might also miss things like proper water coverage and Home Equipment Breakdown coverage. A good rule of thumb is this: you can’t provide too much information about your belongings! If you provide an inventory list, your Insurance Risk Consultant can let you know what can and cannot be covered. But write it all down to make sure you get the coverage you’re eligible for!
- Unique Features with CAA: The services and the people at CAA make us the best place for your insurance needs! One particular service that sets us apart is our Home Equipment Breakdown coverage. Ours is unique because it doesn’t affect your home insurance premiums when claims are made. The claims protection coverage also protects your rates in the event you need to make a claim. We are also a one-stop-shop—you can get all your insurance, a great membership with fantastic rewards and roadside services, travel planning, and more under one roof!
Time to Make the Switch
Did we answer your questions about this process? If not, you can always reach out to our team to get more info! One thing we want you to learn is this: you have options! There isn’t just one insurance provider here in Saskatchewan, and we want to make sure you have all the info you need to make the choice that is best for you, your home, and your family.
Are you ready to get started? Get in touch with us today—we can’t wait to hear from you! As we mentioned above, you can reach out on our website, by phone, send an email, or come into one of our stores. We hope to hear from you soon!