Six Ways to Save on Home Insurance

From groceries and fuel to utilities and insurance, we’re all paying more these days. That has many of us looking for ways to save on the things we need. For instance, whether you own or rent, you should have home insurance to financially protect your property and belongings against vandalism, theft and damage. That said, there are some ways to reduce your home insurance costs.

1. Review your policy for missed savings.

Have your insurance agent or broker review your current home, cottage, condo or tenant insurance policy to see if there are opportunities to save. A licensed CAA Insurance Agent¹ can review your current plan—even if you’re with another provider—to ensure you have the best plan and benefits to fit your needs. Get a review before you renew. You have nothing to lose, and potential savings to gain.

2. Help safeguard your home to maximize savings.

Install smoke alarms, regularly check for water damage, and maintain your heating, cooling, electrical and plumbing systems to minimize potential claims and keep your premium down. Depending on where you live, you can save with a centrally monitored alarm or sump pump.

3. Stay claims free.

Your claims history can also help lower your premium. The longer you’re claims-free, the more you’ll likely save. Depending on your province, you can receive a discount on your CAA Home Insurance².

4. Bundle your insurance

Most insurers offer savings when you have multiple policies with them. With CAA Insurance², when you bundle your auto and home insurance, you can save money and get perks like included legal expense coverage and tire protection³.

5. Use your connections.

If you’re a member of a club like CAA, or an association or union, that can help you save. While you don’t have to be a CAA Member to get CAA Home Insurance², Members can save up to 20%⁴ on their home insurance (depending on your province). Plus, CARP Members get a special bonus for getting a home insurance quote. It pays to leverage your connections.

6. Raise your deductible.

Raising your deductible can help bring down your annual insurance premium. As long as you remain claims-free, this can work well to your advantage.

Let CAA review your home insurance policy to see where you can save. Call 1-833-673-3030 or visit carp.ca/CAA-home to learn more².

CAA Insurance² is CARP’s Recommended provider for Auto, Home, Travel, Life and Pet Insurance. To learn more about our offerings and special perks available for CARP Members, visit carp.ca/CAA or call 1-833-673-3030.

_{¹ In Alberta, Insurance is sold by AMA Insurance Advisors.
² Auto and Property Insurance are underwritten by CAA Insurance Company (except in Alberta, British Columbia and Quebec). BCAA Optional Car Insurance and Autoplan are sold through B.C.A.A. Holdings Ltd. dba BCAA Insurance Agency, a licensed insurance agency. BCAA Optional Car Insurance is underwritten by CAA Insurance Company and Autoplan is underwritten by the Insurance Corporation of British Columbia. Not all products are available in all provinces. Property Insurance is sold through B.C.A.A. Holdings Ltd. dba BCAA Insurance Agency, a licensed insurance agency, and underwritten by BCAA Insurance Corporation. In Alberta, insurance is sold by AMA Insurance. Auto and property insurance sold by AMA Insurance are largely underwritten by Alberta Motor Association Insurance Company (some exceptions apply). AMA Insurance sells life and health policies underwritten by 9 different insurers.
³ CAA Tire Coverage is not available in all provinces. CAA Tire coverage is underwritten by CAA Insurance Company (except in Alberta, British Columbia and Quebec). Tire coverage is not offered in Alberta. Legal expense coverage is underwritten by CAA Insurance Company. Claims administered by ARAG Legal Solutions Inc. (ARAG). This is not offered in Alberta.
⁴ Certain conditions, limitations and underwriting guidelines apply. Discount(s) Subject to certain conditions and approvals. Underwriting eligibility rules apply. Not all products are available in all provinces. Discounts may vary by province. To qualify for the CAA Member discount, you must be a current CAA Member in good standing (CAA Membership dues paid in full by membership expiry date).
Click here to see a list of underwriters covering various CAA insurance products.
CAA trademarks are owned by, and use is authorized by, the Canadian Automobile Association.
The ^®AMA and the AMA logo are trademarks owned by the Alberta Motor Association.}