Simple steps to help reduce your insurance premiums!
With today’s economy, we’re all looking for practical ways to reduce costs and save money. Unfortunately, it seems every time we turn around, costs are rising. Basic necessities like gas and food are increasing, and insurance costs are no different. Here are some easy, pain-free tips for helping control your home and auto insurance premiums:
- Combine policies – many insurers offer a multi-line discount, which can create savings. Combining your auto insurance with your home/condo policy can save you up to 10% in premiums.
- Keep your insurance provider informed – as your circumstances change, you may be eligible for additional discounts.
- Parking a seasonal vehicle can offset some of your costs
- A son or daughter off to school may qualify you for a discount
- A change in your vehicle use, or distance driven annually may reduce your premiums (such as retirement, maternity leave, or change in employment).
- Review your deductibles – Increasing your home and auto deductibles translates into savings on your premium.
- Improve home security – smoke detectors and dead bolt locks help reduce risk. Also, insurers often offer discounts for monitored alarm systems.
- Practise safe driving – paying attention on the road (such as not talking on a cell phone) and obeying traffic rules will help keep your driving record clean. Most insurers offer preferred driving discounts for claims free drivers and further discounts for conviction free.
- Let your broker around. When you receive your renewal policy, contact your broker. Our job is to shop the market to obtain the best deal for you. If you’re not happy with your rate, call and discuss your options with your broker.
Little changes can add up to savings in your home and auto insurance premiums.
