10 tips to reduce your premium of your

house insurance

Every year, the price of home insurance raises in Canada. Even if you may be an exemplary owner without any claim, many factor beyond your control can increase your insurance premium. Climatic changes and the ones in your neighborhood, including the new trends in the insurance industry, explain this increase.

Good news! There are 10 ways to lower your house insurance premium!

4. Live in a house without a mortgage


If you live in a house where you paid fully the mortgage, your premium will be lower.




1. Install an alarm or security system


By installing an alarm or security system in your house, you reduce the risk of loss and as a result, your house insurance premium as well.




3. Own multiple policies and locations*


By owning several policies (e.g. car and residential insurance) with the same company, you may be eligible to receive a discount from certain insurers. By owning several locations on the same policy, you may also be eligible to receive a discount on your house insurance from certain insurers. *Contact first your broker for more information.




6. Be an experienced owner in Quebec


By living several years at the same location in Quebec, you likely have a lower premium. Some insurers also offer a discount if you are older than a certain age. *May vary according to the insure. Contact first your broker for more information.




7. Be a member of special groups*


By being part of certain special groups or associations (e.g. profession with a master's degree), you can benefit from a discount from certain insurers. *May vary according to the insurer. Contact first your broker for more information.




2. Prevent water damage


By installing a leak prevention system such as a check valve or a sump pump, you reduce your risk of loss, and therefore your house insurance premium.




8. Renovate your house


The more renovations you make in your house (e.g. roof, heating system, plumbing system, electricity system, hot water tank, oil tank), the more chances you will get the best premium!




9. Live in a new construction*


If you live in a newly built house, you can benefit of a discount from certain insurers. *May vary according to the insurer. Contact first your broker for information.




10. Increase your deductible*


If your insurer and your budget allow it, you can increase your deductible to lower your house insurance premium. *May vary according to the insurer. Contact first your broker for more information.




5. Keep a file without claim


By keeping a record without claim or infringement, many insurers will be ready to offer you an affordable price. You will then have more choices.





YOU ALSO HAVE A CAR INSURANCE POLICY
AND WISH TO SAVE BIG ON YOUR PREMIUM?

You do not have a residential insurance policy yet? Contact our certified brokers to get a quote now!

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