The Journal de Montréal shares some tips for saving on our home insurance! Here they are :
It is possible to save on your home insurance while having adequate coverage. Indeed, several factors influence the price of home insurance, but you still need to know them. We are here to enlighten you! Whether it’s prevention, discounts or actions to take, you can really take action to lower your premium. Here are tips and tricks to make it happen.
Tip 1: secure the premises
Prevention is reassuring and… pays off! By making your home safer, you will also make significant savings on your home insurance. How?
- Alarm system: depending on the type of system, you could have a discount. Why not opt for a system connected to a central monitoring station? This helps you further reduce the risk associated with your home insurance, are better protected and get a better price. What a positive!
- Water leak detection system: in addition to an alarm system, consider installing a water leak detection system, ideally with a shut-off of the main water supply. Did you know that water damage is the number one cause of home insurance claims in Quebec? Saving money and avoiding inconvenience is a thing to think about!
In short, prevention not only makes it possible to avoid disasters and increase security in your home, but also to save money.
Tip 2: increase the deductible
Raising the deductible is another good way to save. On the other hand, note that in the event of a claim, you must be able to assume the amount of your deductible. Before making a decision on this, do some math: how much will you save by increasing your deductible and how much could you pay if you were to make an insurance claim ?
Tip 3: inform the insurer of the renovations
Do you have renovation projects involving heating, plumbing, roofing or electricity? Don’t forget to notify your insurer, because a well-renovated home could reduce the cost of your home insurance. By informing it, you may also be eligible for new insurance coverage.
Tip 4: bundle your insurance
By insuring your home and your car with the same insurer, you could also save money. The combination of home and auto insurance policies makes it possible, among other things, to benefit from discounts or free advantages on the contracts.
Tip 5: find out about possible discounts
To benefit from discounts, he makes it known that they exist. Find out, it’s worth it! In addition to those we have already mentioned, here are some other examples:
- Multi-dwelling discount: owner of an apartment, a secondary residence or any other type of eligible dwelling? Consider combining them into a single insurance policy to take advantage of discounts.
- Mortgage end discount: have you finished paying your mortgage? Congratulation! Other good news: you will be entitled to the discount granted by insurers to owners who are released from the bond with their mortgage creditor.
The main trick? Ask questions and be specific with insurers.
Tip 6: shop around for a better price
It is recommended to submit at least three requests for quotes from different insurers. It allows you to compare discounts and prices. It takes time, but it’s the best way to choose insurance that’s right for you and your needs.
Thanks to these different tips, you are in a good position to save on your home insurance . Moreover, the discounts mentioned in this article are offered by Promutuel Insurance, under certain conditions. Think of us when you request quotes!