Home insurance is a necessity and depending on where you live, it could cost quite a bit. Thankfully, here in Barrie home insurance costs far less than it does out west. Ontario actually boasts some of the least expensive rates in the country.
As with anything, the cost of home insurance is on the rise – it’s due partially to inflation as well as a number of other factors including an increase in natural disasters and the repairs associated with them.
In spite of the increase in costs, there are many ways Barrie residents can actually save money on home insurance. Some of the tips below are extremely easy while others may come as a surprise.
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D – Due Diligence: Shop around for the best rates. Most companies such as Will Marshall are always looking to compete with other insurance companies and can get you the best rates possible.
I – Increase Deductible: If you raise the deductible on your home insurance, the policy holder could save as much as 25%.
S – Security: Homeowners who install security systems tend to see fairly substantial savings on their policy. Also be certain to have other safety devices installed such as smoke detectors, sprinklers systems, fire extinguishers and high security locks.
C – Combine: If you own a home, car, boat or cottage you could save as much as 15% by combining your policies.
O – Overview: Taking a good overall look into your current insurance policy may be worth your time and can save you money. You may be spending more than you need to.
U – Update: If you own an older home, be sure to update the wiring, shatterproof windows, security doors etc. This can save you a lot of money and reduce the cost of your home insurance.
N – Necessary Coverage: You may actually be over insuring your home. You may still be paying coverage for a television or computer you bought 5 years ago or on other expensive items you no longer own.
T – Time with Company: Insurance companies thrive on repeat business and will usually offer better rates to homeowners who are long-time customers.
S – Sale Offers: You may be eligible for discounts on your policy that you don’t even know about. Your age or relationship status may help to reduce the costs.
Protect your home and possessions with homeowner insurance through Will Marshall. We offer home insurance, condo insurance, cottage insurance and renters insurance for all residents in Barrie, Orillia and surrounding areas. Finding the right home insurance in Barrie may seem like a daunting task but with Will Marshall Insurance Brokers on your side you can find the right policy that will fit your needs.