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How to reduce my home insurance premium

Learn which factors have an impact on your home insurance premium and read our tips to help you lower your premium.

Factors that can impact your insurance premium

  • Building features (age, location, building materials used, etc.)
  • Proximity to a fire hydrant and fire hall
  • Crime rates and fire statistics in your neighbourhood
  • Your claim history
  • The type of policy and coverage you choose
  • The value of the property insured
  • Your credit information

How to lower your premium

  • Bundle your insurance policies with the same insurer
    Most insurers offer a discount if you insure both your home and your car with them.
  • Have an alarm system installed and connected to a remote monitoring centre
    This will reduce the risk and lower your premium by the same token.
  • Notify your insurer if you do any major renovations
    Updating your roof, plumbing, electrical system or heating system could lower your premium.
  • Increase the amount of your deductible
    If you increase your deductible, make sure you can afford to pay the higher amount in the event of a claim and calculate whether the money you’ll save is really worth it.

Looking for advice?

Your home is a big investment for you. Whether you own a house or a condo, one of our advisors can help you find the right home insurance for your needs.

Contact an advisor

Tools and advice

  • iA Financial Compass
  • Buying a Home | iA Financial Group
  • Clear snow off your property to reduce the risks of damage
  • Home insurance: the impact of work from home, school at home and renovations
  • Prevent fires caused by hot ashes
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