Why Has My Premium Increased?

Increased Premium?

There is nothing more frustrating than learning that your home insurance or auto insurance has increased. There are different scenarios as to why your premium could go up. Here are a few.


  • If you have a conviction for anything the police pull you over for regardless of whether you lose license points or not.
  • If you have an at fault claim without having the accident protector or having a 2nd at fault accident during accident forgiveness time frame of 6 years.
  • The company you are insured with has a rate increase.
  • If you add a driver or vehicle to your existing policy.
  • If you add a young driver with a G2 license being added or any young driver.
  • If you are adding an increase in coverage due to broker suggestions or request from client.
  • If you move to a different postal code or city.
  • If your policies are combined and you shop one policy without the other, you will lose your multi policy car insurance discount.
  • If you use your vehicle for commuting to work instead of pleasure use.
  • If you use your vehicle for qualified business use with individual companies.
  • If your policy is cancelled for non-payment or you have a license suspension.


  • If you have a claim on your house policy, this causes you to lose your claims free discount for 3 years.
  • If your individual company has a rate increase.
  • If there is a territory change made by company for coverage (example: sewer back up)
  • If you live in a high-risk area for certain coverage (example: overland water coverage)
  • If you move from a smaller home to a bigger square footage home
  • If your policies are combined and you shop one policy without the other, you will lose your multi policy home insurance discount.
  • If you add a swimming pool this increases liability premium
  • If you have a home-based business that qualifies as a writable home-based business with individual companies. This has it’s own premium.
  • If you build an addition to your existing home.
  • If you fail to update your amenities such as heating systems, plumbing, electrical or roof.
  • If your policy is cancelled for non-payment or you try to get insurance after a lapse in insurance coverage.

It is beneficial to have a broker who can shop with multiple companies to get you the best price and coverage for your insurance needs. Call Morison Insurance today 1-800-463-8074

- Written by our broker Lisa

This blog is provided for information only and is not a substitute for professional advice. Please call our Morison Insurance brokers at 1-800-463-8074 for more information.

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