Ten tips on how to save on your home insurance premiums
May 6, 2013 1 minute read
- Increasing your deductible can reduce your insurance premiums and save you money. Before increasing your deductible, consider what deductible amount you would be able to afford in case of a claim.
- Any significant new purchases, downsizing or additions to your house, or changes in property value can impact your coverage. Review your policy to make sure your home and contents are properly insured.
- Did you know there are discounts available for homeowners who have recently built homes? While classifications vary depending on your insurance provider, houses built in the last 10 years generally qualify for a new home insurance discount.
- Consider installing a monitored home security alarm system. Not only can this help you save on your home or condo insurance premiums, it also keeps you safe and protected.
- If you haven’t had a claim for more than three years, you may be eligible for a claims-free discount.
- Installing a sump pump or backflow valve is another great way to protect your home. Water mitigation incentives may help you save on insurance and prevent damage.
- Are all of the residents in your home non-smokers? If so, some insurance companies in Ontario may offer an additional discount on your home insurance. Check with your BrokerLink broker to see if you qualify.
- Replacing your roof, updating your electrical systems or upgrading your plumbing is a great way to prevent damage to your home. Make sure you mention any improvements to your BrokerLink broker.
- If your home is mortgage free, you may qualify for additional discounts.
- Bundling your home and auto insurance through BrokerLink is another great way to save on your home insurance. It can provide you with additional savings of up to 15 %.
Call your BrokerLink broker today to discuss available discounts or to conduct an insurance check up to ensure your coverage reflects your insurance needs.