7 tips to save on your premium

1- Shop around

Shop around and make sure you’re getting the protection you need. Get quotes from several insurers and compare them, making sure they provide the same coverage. You may be able to get insured at a better price.

2- Choose the same insurer for your car and home

Having the same insurer for your home and auto insurance usually earns you a discount.

Also, find out about the different programs that your insurer offers. You may be eligible for other discounts.

3- Increase the deductible

If you increase the deductible, your premium should decrease. Remember, however, that the deductible is the amount that you’ll have to pay in the event of a claim. Make sure the savings are worth it.

4- See to your credit

Having a good credit report usually results in a better premium. However, you must give your consent for your insurer to take it into account when determining your premium.

5- Equip your home with an alarm system or water leak detector

These systems, depending on their features, alert you or the fire department in case of fire, break-in or water damage. They could save you money on your insurance premium.

6- Be vigilant

A significant number of claims can be avoided through preventive behaviours that reduce the risk of fire, theft or water damage. Do not leave cooking appliances unattended. Don’t leave your home with the dishwasher or washing machine running. Make sure you don't overload the home’s electrical circuits, and always lock doors and windows before going out.

7- Maintain your home

It takes regular work to reduce the risk of damage or to limit its extent. Over time, it becomes necessary to replace the roof, change the water heater, and have the electrical and plumbing systems checked to reduce the risk of fire or water damage.