There are many places to go for Home Insurance Quotes Canada. Every province has many companies that offer homeowners insurance so shopping around is pretty easy. To help you understand what can save you some money, www.canada-insurance-source.com has put together a list of money saving tips on your insurance.
Here are my top tips to save money on your home insurance
1. Shop around: To get the best rate you should shop around (but once you have coverage stay there for at least a few years). Rates vary quite a bit from company to company.
2. Raise your deductible: Going with a $1000 deductible instead of a $500 deductible should save you 10% or more. And you are not likely to put in a small claim anyhow.
3. Home and Auto together: Insure your home and auto at the same insurance company and you will get a "multi line discount". The savings should be 10% or more each year.
4. Avoid claims: Once you have been claims free for over three years you should be entitled to a claims free discount.
5. Non Smokers: If you are a non smoker ask your insurance company if they offer a non smokers discount. That could save you an additional 5-10%.
6. Alarm System: Let your insurer know if you have a monitored alarm system and save 10%. You might save even more if it monitors for break ins AND for fire.
7. Mortgage free: If you no longer have a mortgage let your insurer know. Many companies offer a mortgage free discount.
If you are just buying a home, here are two additional tips that will save you money on insurance:
1. Location: A home that is within 300 meters of a fire hydrant and within 8 km of a fire hall will be much less expensive to insure than a home that is not hydrant protected.
2. New vs Old: A new home will have lower rates than an old home. If you buy an old home look for recent updates to the heating, plumbing, electrical and roofing.
Visit Canada Home Insurance for more helpful information.
Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.
Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.
Always speak with a licensed insurance representative about your specific situation.
This site is general in nature and there may be errors or ommissions