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In this post, I am sharing how I saved over $300 on my condo insurance renewal with Schill Insurance Delta. It will probably be the easiest $300 you will save with just a few emails. Depending on how much your condo insurance is, the savings might be even greater for the same amount of work. To make it easier for you, I have included a sample email you can use at the end of the post.

The condo insurance for both my principal residence and the rental property was up for renewal this month. The policies for both properties were insured by the same provider before as it provided savings when the policies were combined.

A month prior to my renewal date, I received a letter from my previous insurance agent with the rate for next year. Compared to last year, it was only about 10% more. I was going to renew with them out of convenience. Since both of my properties are in BC, they were both affected by increased condo insurance rates that were the hottest local news topic a while back. When I reached out to their office and provided them with the new strata deductibles, my quote went up significantly. It was going to cost me double last year’s rate to insure.

Thankfully, the nice agent on the phone sympathized with me and actually offered a couple of local referrals he knew about from his other customers. This is why I chose not to reveal the name of my previous insurance agent as I didn’t want to get him in trouble for sending sales away from the company. However, selfless and kind gestures like this mean a lot more than one business lead.

More Home Ownership Posts ~
Buying a Rental Property in BC, Canada – My Experience
The Process of Buying a Pre Construction Condo

How To Shop Around Virtually & Efficiently?

I did the entire renewal process with Schill Insurance via emails. I actively avoid in-person interactions if I could due to the pandemic so it was a nice perk to be able to get the transaction done by email completely. However, phone and in-person options are just as effective (might not be as efficient though). You will just have to double check their operating hours and health and safety guidelines.

I drafted up a template email with my previous insurance policy (tip: you can ask your insurance agent for it) as an attachment and information on strata deductibles (tip: ask your strata) in the body. Jump to the sample email.

I then sent the email out to 4 to 5 insurance agents I found with a quick Google Maps search. I used Google Maps for the following reasons:

– be able to find insurance agents located close to me physically (in case I need to go in to sign documents)
– be able to see their Google reviews
– be able to support local businesses

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Why Did I Go With Schill Insurance?

I sent the email out over the long weekend and received 2 complete quotes by Wednesday. The quote I got from Schill Insurance was $310 less than my original one and $200 less than the other one I got. It was worth mentioning that Schill Insurance was able to get me such a great quote as they came up with the proposal to insure my two properties separately. As the consumer, having them combined or separately did not matter to me. The only differences that I was aware of were that the credit card transactions will be separate and that I will receive two insurance packages.

Once everything was ready, the agent at Schill Insurance Delta sent over the documents for Docusign (electronic signatures) to both Eric and I. I had to call in only once to provide them with my credit card for payment.

Another nice perk that Schill Insurance provides is an online portal. An account was created for me as soon as the policies were processed. I can now login to report a claim, make payments and download a copy of my policy.

A Sample Email For Saving Money On Condo Insurance

Hi,

My condo policy is up for renewal and the quote I received from (previous insurance agent) was $________. Could you please refer to my current insurance policy I have attached and also strata deductibles below and provide a quote?


Deductibles (adjust this based on what was provided by your strata)
– All Risks $
– Sewer Backup $
– Water Damage $

Thank you in advance.

(Signature)
(Contact Phone Number)

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