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@mark264 Sorry not sure what you meant by the first sentence as I don't live in Ontario so I have no primary residence in Ontario. In either case, TD was my saving grace!

@echo2788 ok pookie😘

@echo2788 ok pookie 😘

@echo2788 Sure if that helps you sleep at night pookie 😘

@echo2788 No feelings. I just have 6 quotes in front of me and TD + 1 other company is 65% cheaper for the same coverage. Since we're making assumptions here, I guess you're just a shitty insurance broker since you clearly didn't know some insurers penalize standalone rentals. Light bulb moment...

@echo2788 I chose the same coverage across all insurers I've received quotes on. That's what you do when you shop around (surprise surprise). Some insurance companies don't penalize you for standalone rentals. So clearly you're wrong but maybe you feel better if you keep repeating "I'm not...

Thought I'd provide an update. After calling around and getting lower quotes in the $3k range vs Square One, I found at least 2 insurers (thanks to helpful folks in my DMs) with more reasonable quotes (under $1600) one of them being TD and went with them. Insurance is now slightly under $1500...

@echo2788 Yep you know everything. There is no such thing as a rental policy in the Ottawa region in the $1500 price range. Nope. Everyone who claims to have such a policy is lying to their insurer. Everyone with a rental policy is paying $4k+, zero exceptions.

@echo2788 Sounds like you bend over willingly. To each his own.

@echo2788 I'm not sure what your problem is but consider not responding rather than typing single sentence answers that aren't helpful. Maybe you don't know people who own rental properties but paying a "normal" rate for a rental property is not unusual yet you're making it sound like paying...

@echo2788 So 3-4x the rate of what you'd paying if you lived in it is normal to you and you'd just gladly accept without seeking alternatives? I just asked a different friend who lives in Ottawa and owns a rental property as well and he's paying $1250 for the rental. I'm thinking it's because...

@sovereignone Cheers. That's what I'm gonna do. Will call up a bunch of places. I'm just flabbergasted that insurance is that expensive. Clearly my situation is not something that comes up often at all when people discuss real estate investing.

I don’t live in Ontario but I recently purchased a rental property (detached home) in Ottawa. It is currently being rented out and I’m getting quotes of $4k+ to insure it as a rental property. I’m beginning to regret my decision as I had not expected home insurance to be so expensive. Prior to...