Home & Property

Top 10 Ways to Save on Home Insurance

Home insurance, homeowner’s insurance, habitational insurance, whatever its called, it can be expensive! Here are Advocate’s top 10 ways to save on home insurance:

1. Compare Your Options

The best way to do this is through a broker, with online quoting services it can be very easy for customers to shop around and find the best policy for their unique set of needs.

2. Bundle!

It’s not just an advertising tactic, you can save big by bundling your policies together. Also, in the event of a claim, you will only have one contact to deal with. At Advocate, you can build a relationship with this person to make sure that they can meet your needs in the best way possible; read about our Personal Recovery Coordinator.

3. Make Sure Your Coverage Fits Your Needs

Ask us how you can make sure your policy reflects the coverage your need. If you have certain high value items such as computers, cameras, musical instruments and jewelry, you may need additional coverage. If not, make sure to let your broker know so they can adjust your policy accordingly.

4. Be Proactive with Security Measures

Not only is this a way to protect your home, but your premiums can be lower if your home is protected by technologies such as monitored fire and burglar alarms.

5. Take Steps to Improve Your Credit Rating

A lot of companies will allow discounts of up to 60% if you have a good credit rating.

6. Updates Matter!

If you have recently replaced your roof or furnace, let your insurance company know. Insurance companies are using increasingly complex individualized rating systems, and things like home updates can have a positive impact on your premium.

7. Sewer Backup Mitigation

Companies offer discounts for having monitored sewer backup alarms and installing backflow valves. Technologies such as these can save you money and hassle.

8. Only Make a Claim When Necessary

Even though the size of your insurance claim doesn’t effect your claims history, the number of claims you register could have an adverse effect on your premium. Before making a claim, review our Claims Guide and if you are unsure about anything, don’t hesitate to Contact Us.

9. Change Your Heating System

Most insurance companies charge extra premium for woodstoves and oil heating. By upgrading to propane or natural gas heating, you can reduce your premium.

10. Loyalty Rewards

Many insurance companies offer a discount once you have had a policy with them for several years (3-5 years).