There are many ways to reduce your home-related costs. Here are some tips to save hundreds, even thousands of dollars by knowing how to shop for insurance.
1- Combine your insurance policies into a single plan
Whether you own a car, a vacation home, or a recreational vehicle, bundling your insurance policies can lead to substantial savings. Most insurers offer discounts of up to 25% for customers who consolidate their insurance with one company.
2- Raise your deductibles
A deductible is the portion of a claim that you agree to cover yourself. The gap between different deductible amounts can lead to substantial savings on your monthly premiums. Given the relatively low probability of filing a home insurance claim, it's often a wise decision to opt for a higher deductible of $500-$1,000.
3- Do you have a university degree?
Simply having a university degree or belonging to a professional order can earn you significant discounts. Don't forget to mention this to your insurer!
Still in school? You could be saving money on your insurance!
4- Examine all your protections
Ensure that your insurance coverage aligns with your specific needs. Paying for unnecessary protections can inflate your premiums. Factors such as your location, near bodies of water or high-crime areas, significantly impact your rates. Customize your policy to reflect your unique circumstances.
5- Make the necessary renovations
Each year, take the time to make a few small repairs to maintain your home. You'll have fewer problems, reduce the risk of claims, and see smaller premium increases at renewal. Plus, certain renovations can actually lower your premiums, depending on their nature and impact on your home's safety.
For example, installing a high-quality security system can reduce the risk of theft or fire. On the other hand, adding a pool or spa can increase your risk of accidents and, consequently, your insurance premiums. It's important to discuss any home modifications with your insurance company before starting work.
6- Install a monitored security system
Most insurance companies provide discounts to homeowners with monitored security systems. In addition to the peace of mind it offers, a connected alarm system can lead to substantial savings on your insurance costs.
7- Compare insurance policies
It's no secret that most people find the process of shopping for insurance to be time-consuming and frustrating. However, by taking the time to compare insurance policies online, you could save yourself a substantial amount of money.
Are you willing to spend two hours to save a few hundred bucks? The choice is yours.
8- Compare insurance rates annually
By comparing insurance quotes each year, you can take advantage of new discounts and ensure you're getting the best deal on your coverage. Insurance rates are subject to change, so it's important to shop around regularly.
Partnership with SimplAssur
To provide an even more personalized and seamless experience, our clients will benefit from a preferential group rate on insurance premiums and many other advantages.
Partnership with SimplAssur, a mortgage brokerage firm, Proprio Direct becomes the only real estate banner in Quebec to offer its clients a turnkey network of experts, simplifying the entire process from buying or selling their property to home insurance.
What are the benefits for you?
- Exclusive preferential rates for our Proprio Direct clients.
- Customized home insurance solutions designed to fit your unique requirements.
- Simplified claim filing and management processes for your convenience
- Expertise and advice for all your insurance needs.
- Access to over 15 insurance companies and products.
- A turnkey service
To benefit from our partnership, contact your Proprio Direct real estate broker.
