Liberty Security

Sweet Savings: How to Save on Your Home Insurance

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Trying to save some of your hard-earned money on a well-deserved trip to Hawaii or a fancy dinner date away from your kids? We are here to help! Introducing our ‘Sweet Savings’ insurance blog series. This series is aimed towards helping you save on your insurance in ways you may not have heard before. To begin the series, here are some home insurance saving tips for home owners and those in the market to buy.

If you are a current home owner, here are ways you can decrease your rates. Take a look at our list and make sure to discuss any that apply to you with your insurance broker.

  • Renovations and maintenance of your home can lower your premium.
  • Liberty Flood Sensors can be placed in your home as an early detection system for flooding. The signal sent from the sensor to our 24/7 monitoring centre will help reduce the probability and severity of water damage. Some insurers may offer discounts.
  • Depending on the insurer, having a “claims-free” history may lead to receiving a discount. If you’ve never had a claim, have your broker look into it.
  • Having a 24/7 monitored residence for security can lead to an insurance discount. Contact your broker.
  • Liberty Temperature Sensors can detect extreme falling temperatures to avoid freezing pipes. Some insurers may provide a discount, especially in homes or condos that are heated by radiator systems.
  • Avoiding insurance coverage that is unlikely to affect you based on your location. For example, it makes more sense to have earthquake coverage in BC than Alberta. Go through your coverage with your broker to see if anything does not apply to your situation.
  • Dependent students living away from home could be covered by their parents’ home insurance.
  • Discounts may be given to retirees as they are more likely to be at home decreasing liability risk.
  • The longer you live in your residence, the more likely your insurer will offer a “stability of residence” discount.
  • When smoke or rising temperature rates are detected by a Liberty Smoke Detector, the alarm system will be activated and alert authorities even when you are not home and when the system is not armed. Most insurers will offer a discount.

If you are looking to purchase a new home, here are ways your insurance rates might increase:

  • Purchasing a home with a higher value.
  • Adding features to your home that will increase the risk of death, such as a pool.
  • Buying a home in locations that are more prone to local crime and natural dangers, such as floods.

Here’s how to lower your rates, if you’re in the market for a new home:

  • Copper or plastic plumbing are preferred by insurers.
  • Doing your research to find an insurer that has a “new home” discount.
  • Purchasing a home that is near a fire hydrant or station.
  • Having a 24/7 monitored alarm system installed.

Keep an eye on our blog, as the next installation of our Sweet Savings series will tell you how you can save on your car insurance.

To learn more about the solutions we offer, give us a call at 1-866-926-7233.


Mimi Ngo posted this on by and is categorized under General