Tips to lower your home insurance premium


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Stevenson & Hunt Insurance Brokers Ltd offers various types of insurance, including car insurance Kitchener. They are located at 250 York Street Suite 400 London, ON N6A 6K2‎ (519) 646-5800. Visit their website for more information.

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Tips to lower your home insurance premium

  1. 1. Tips to Lower Your Home Insurance Premium
  2. 2. Just like with drivers and car insurance, homeownersare always looking for ways to pay a little less for theirhome insurance. And just like car insurance, there areusually a handful of ways to lower your premium.Here are some proven tips you can follow to knockdown your home insurance premium.
  3. 3. Select Your Location CarefullyThere isn’t much you can do about location if you’realready living somewhere and don’t plan to leave.However, if you’re still looking or plan to soon, thelocation you choose can make a difference.Try to find a house in an area that has lower crimerates, less likelihood of flooding, more fire hydrants andfire protection and you’ll likely catch a break on yourpremium.
  4. 4. Shop AroundNot every provider charges the same fees and rates, sotake a little extra time to shop around when you’relooking for home insurance.Even if you end up saving what seems like a smallamount per month by shopping around, it adds up overtime. As long as the coverage and service is the same,why pay more if you don’t have to?
  5. 5. Add an Alarm SystemGetting a high quality alarm system installed in yourhome is a sure way to lower your home insurancecosts. A home alarm system means less likelihood ofbreak-ins, which means fewer insurance claims.If you opt for a top of the line system, you’ll also havefire protection, which could lower your premium evenmore.
  6. 6. Ask About DiscountsAll home insurance providers offer discounts, and whilethe alarm system will help in that department, there areothers, too. Ask about discounts for things like:• Sprinklers• Smoke detectors• Carbon monoxide detectors• Dead bolt locks• Secure windows
  7. 7. Increase Your DeductibleYour deductible refers to the amount of money thatcomes out of your pocket when you make a claim.Most people want it low, but by raising it you willdefinitely pay less for your home insurance premium.Do some calculations to figure out exactly how muchyou can afford, then speak with your agent to seeexactly how much you’ll save. If the savings equal thedeductible in a short period of time, you know you’re onthe right track.
  8. 8. Speak Up When Making UpgradesWhen you make any upgrades to your home that willenhance the security or safety aspect, make sure youtell your insurance provider. This is especially true ifyou live in an older home.By telling your provider about upgrades like electrical,plumbing or security features, you may end up withmore coverage for less money.
  9. 9. Multiple PoliciesHaving multiple insurance policies with the samecompany is often a good way to get yourself a betterprice. Consider getting your car insurance from thesame company, if they offer a reduction on yourpremium.Make sure you take the time to figure out if the savingswith one company will be better than if you shopped thepolicies around to more than one provider.
  10. 10. ReferencesStevenson & Hunt Insurance Brokers Ltd offers varioustypes of insurance, including car insurance Kitchener.They are located at 250 York Street Suite 400 London,ON N6A 6K2 (519) 646-5800. Visit their website formore information.