How to lower your home insurance premium
Deductibles, bundling and annual shopping — save hundreds
Home insurance prices differ by hundreds of dollars for the same house. Most of that difference is decisions you control.
1. Raise your deductible
Moving from a $500 to a $1,000 deductible typically saves 5-10%; $2,500 saves more. Choose the highest amount you can realistically pay in an emergency.
Small claims are the enemy of cheap insurance — one small claim can raise your premium for years.
2. Bundle and discount
Bundling home and auto with one insurer is the single most common discount, often 10-15%. Monitored alarms, claims-free years and paying annually instead of monthly also cut costs.
Your credit-based insurance score matters in most provinces — paying bills on time helps.
3. Compare every renewal
Loyalty rarely beats the market. Getting 3-5 quotes at renewal — including from smaller mutual insurers — regularly finds 10-20% savings.
Our home calculator shows how deductible and coverage choices move the price instantly, so you know what to ask for.
FAQ
How much can I realistically save?＋
Most households can save 10-20% (roughly $150-400/year on BC premiums) by combining deductible, bundling and switching.
Should I ever file a small claim?＋
Generally no, if you can afford the repair. Claims history follows you for years; a $1,500 claim can cost far more in future premium increases.
Can I switch insurers mid-term?＋
Yes, but you may lose the pro-rated refund minus cancellation fees, and continuous coverage must be maintained to keep your claims-free discount.