Friday, May 25, 2012

Rental Insurance Journey

It's been a long day of insurance quotes? Being a lazy homeowner the last couple of years, came back to teach me a valuable lesson.

So here is the story, I was lazy and didn't set up my home owner insurance when I moved in my condo.  Even though it's super cheap and I was already on the phone about my car insurance.  Go ahead.  Give me the talk about being irresponsible.  I'm giving myself a talking to as well.

I called up my insurance today to set up insurance for my rental, and figured I might as well set up my home insurance at the same time.  Rejected on both counts.  My insurance company, TD Meloche Monnex will not insure my home because it's been uninsured for too long, and they do not insure rentals without insuring the home as well.

So I called Canadian Direct.  They can insure my home.  However, because the rental is under both Sis and my name, they cannot insure the rental.  The rental needs to have same name on title as my home.
Finally I called Cooperators, who, thank goodness, will insure me.  *Phew*

A moment of weakness (laziness) and all these extra work and worry.  Lesson learnt.