Some decisions shouldn’t require much thought, like deciding to buy home insurance. Preparing for the unexpected can save you a bundle if something does happen. But the fact that it’s easy to decide to get insurance doesn’t mean it’s easy to find the right policy without spending too much.
Use These Tips To Help You Save Money On Home Insurance in Calgary
- Compare Calgary Insurance Companies
Shop around and see if any insurance companies in Calgary are offering discounts. Check memberships as well; sometimes being a veteran, part of a college alumni association, or other clubs and associations can get you a discount.
- Improve Your Home
Upgrading your home can lower premiums as well, particularly if you’re in an older home. Ask insurance companies in Calgary if they’ll give you a lower rate if you complete home improvements that make the house safer. This usually involves a core element, like plumbing or wiring.
- Understand the Difference between Actual Cash Value and Replacement Cost
Home insurance comes with a variety of options that affect the price. One big one is whether you choose a policy with actual cash value (ACV) or replacement cost. ACV is the current value of your home and property, while replacement cost is what it takes to replace your home and property. A replacement cost policy generally has higher premiums, but is a better choice for homeowners.
- Agree to a Higher Deductible for Your Home Insurance
Increasing your deductible can significantly reduce premiums. Just remember that means you’ll need to pay more before insurance kicks in, so set aside the necessary funds.
- Consider an Umbrella Policy from Insurance Companies
It doesn’t save money initially, but is a big benefit if you ever need home insurance in Calgary for a large claim.
Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected]