Guide

Why your insurance renewal went up — and what to do about it

"I didn't have a single claim — why did my renewal jump?" The most common question in insurance. Here's the honest answer.

It's usually not about you

• Claims inflation — cars cost more to repair (sensors, cameras, parts), homes cost more to rebuild
• Auto theft — Ontario's theft rates pushed everyone's comprehensive premiums up
• Weather — floods, wind and hail claims are rising across the province
• Your company's book — if THEIR claims ran hot, YOUR rate absorbs it, even with a perfect record

That last one is the key insight: a rate increase often reflects your insurer's year, not yours. Another company with a healthier book may happily take you for less.

What to do when the renewal lands

• Don't auto-renew. Renewal letters count on inertia
• Compare the market — this is the moment a broker re-shops 30+ companies for you, free
• Re-check your discounts — bundle, winter tires, telematics, alarm, mortgage-free
• Right-size the policy — deductibles and coverages that fit your life today, not five years ago

The renewal habit that saves thousands

Re-shopping every single renewal sounds like work — because for one person, it is. My clients don't do it: I re-shop their policy automatically every year and only call when there's money on the table. That's the whole point of having a broker.

More guides: How a broker saves you money · Why Ontario car insurance costs what it does · Home insurance, explained simply · New driver insurance (G1/G2/G) · Insurance for newcomers to Canada · Buying your first home · High-risk driver? You have options · ਬੀਮਾ ਗਾਈਡ (ਪੰਜਾਬੀ ਵਿੱਚ) · ਨਵੇਂ ਆਇਆਂ ਲਈ ਗਾਈਡ (ਪੰਜਾਬੀ)