The term “cheap insurance” has a negative ring to it for good reason. With cheap insurance, you may not get the coverage you require when an emergency arrises. We’ve created a list of cost-saving tips applicable to Alberta residents, so that you can keep a lower insurance rate, while still getting your perfect coverage.
Tips for a Lower Insurance Rate
- If your home & auto policies are with the same company, you get multi-line discounts
- A higher deductible will help you save on your insurance ($1000 deductible instead of $500)
- If you have your home & auto together at the same company, and have a claim that affects both (ex. hail damage to car & home due to the same storm) the company will charge one deductible
- Having a sump pump with a back-up system can provide you with additional discounts (sewer backup) with some companies
- Roof material can give you a discount with some companies (ex. rubber instead of asphalt)
Maximizing Your Discounts
- Advise your insurer of your actual commute (don’t guess)
- If you have more than one vehicle, look into multi-vehicle discounts
- Check for driver training discounts for new drivers.
- Look at alarm discounts
- See if you qualify for updated home evaluation discounts
- Some lines of work are entitled to occupation discounts
- If you’ve provided your home with update (ex. roof repairs), you may receive discounts or better coverage
Remember, paying in full is cheaper than monthly (3-4% service charge)Did you enjoy this post? Please share: