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8 Home Insurance Credits That Equal Big Savings

 
Home insurance savings

We've rounded up 8 home insurance credits and tips than can help you save big on your home insurance premiums!

  1. Home and auto insurance:
    Invite your car insurance to move in. Bundling policies is an easy way to save up to 50% on your home insurance. You're in luck because OTIP offers both car insurance and home insurance.
  2. Keep it claims free:
    Just like with your car insurance, having no home insurance claims is the easiest way to keep your premiums down.
  3. Quit smoking:
    Yep. Just one more reason to kick the habit. For some insurance carriers, home insurance rates remain higher for smokers as their risk of a claim due to fire is also higher. Still today, fire claims are often caused by a forgotten, smoldering cigarette. If you have recently quit and been smoke free for over one year, call your broker to find out if you might be eligible for savings.
  4. Proximity to emergency services:
    Living closer to emergency service providers, like fire and police stations, may give you an advantage over other, more remote properties. Not only can emergency personnel get to your home faster, you could see savings on your policy premiums as well.
  5. Keep your home updated and upgrade:
    As your home ages, it is important to consider updating your electrical system, roof, plumbing and furnace or primary heat source. Talk to your broker if you are planning any extensive home renovations to both checking on new credits, but also to ensure you maintain your coverage through the renovation.
  6. Embrace Aging:
    Getting older has its benefits. Your insurance company may be adding credits based on your age. No need to call in as these would be added automatically with most insurance carriers.
  7. Increase your deductible:
    If it's available to you, increasing your deductible (the amount you're required to pay in the event of a claim) may be another easy way to slash money off your home insurance bill. Just make sure it is actually affordable to you so you don't get stuck in the event of a claim.
  8. Make a lump sum payment:
    Paying for your annual insurance all at once can save you from paying those pesky administrative costs that come with the more common monthly payments.

BONUS: Speak to a Broker – It's true, sometimes saving money is as easy as asking for it. Pick up the phone and ask your OTIP representative today at 1-888-523-4111 to find out what credits you may already be eligible for.

Not yet with OTIP? Find out if you're eligible for savings on your home insurance with a free home insurance quote from OTIP.