Recent Trends in Home & Auto Insurance

CDSPI’s partner for home and auto insurance, The Personal Insurance Company, shares the most significant factors affecting rates recently.

 

Auto

Eyes off the road

They’re called smartphones, but they’re not so smart when you’re behind the wheel. Despite relentless public service announcements, and the best efforts of law enforcement, distracted driving-related accidents are still on the rise. You may be doing the right thing, but too many people aren’t and it’s pushing up rates for everybody.

 

  • While there’s nothing you can do about other people’s driving habits, you can benefit from good habits of your own. Save up to 25% on your auto insurance premium with The Personal’s Ajusto® program*, which monitors your driving habits for 100 days from your smartphone. Your premiums cannot go up using the program, only down if you’re a safe driver.

 

High tech leads to high cost

Cars are now like rolling computers. Sensors in every nook and cranny from your bumpers to your side mirrors contribute to safety and convenience, but they also contribute to repair costs.

 

Home

Unnatural natural disasters

Devastating wildfires, floods, hail, ice storms, tornadoes… It was a devastating 2018, and that contributes to large claims that ultimately affect all homeowners’ rates.

 

  • One way to help protect yourself is to be alerted to major weather systems as soon as possible. The Personal’s Radar™ weather alerts provide advance warning of severe weather that could damage your property.

 

Distracted living

Smartphones are not only causing havoc on the roads, they are distracting people at home as well. The insurance industry has seen a significant rise in home fires as people who are preoccupied with their screens may leave a stove unattended or a cigarette burning when it should be snubbed out.

 

Finished basements

Water damage has long been the major source of claims for home insurers. The recent trend of creating enhanced basement living spaces has meant that improvements and contents are more expensive to repair or replace. Be sure to revisit your home insurance if you renovate to ensure you have adequate coverage.

 

  • The Personal has a program for this as well. It’s called Alert, and it syncs a water and freeze detector to your smartphone that notifies you immediately if there’s a problem at your home.

 

 

Fortunately, CDSPI’s group buying power provides a huge advantage to the dental community. While The Personal has been forced to increase rates for some clients, they are still, on average, lower than comparable rates from general insurers.

 

It’s worth it to compare. Get a quick quote for auto insurance or call 1.877.277.7230 to see how much you may save on home insurance.

 

Thinking of switching to CDSPI?  Insure with CDSPI and get Ajusto®, Radar™ and Alert at no charge by downloading The Personal’s mobile app.

 

Bad driving behaviours can affect your rates. Read about bad investment behaviours that can affect your returns.

 

5 Reasons Why Your Home Insurance May Be Going Up, insurancehotline.com

* Certain conditions, limitations and exclusions may apply. Ajusto is underwritten by The Personal, which refers to The Personal Insurance Company. Ajusto is available in Ontario only. ®Ajusto is a registered trademark of Desjardins General Insurance Inc., used with permission by The Personal Insurance Company. The discount does not apply to certain endorsements and additional coverages. Please note that the discount will automatically be applied to the premium at renewal.

Radar is a trademark of Desjardins General Insurance Group Inc., used under licence.

CDSPI Home and Auto Insurance is underwritten by The Personal Insurance Company and distributed by CDSPI Advisory Services Inc. Home Insurance is not currently available to residents of Quebec. Auto Insurance is not available to residents of Quebec, Manitoba, Saskatchewan and British Columbia.