Tips to better manage your insurance costs

 Tips to better manage your insurance costs
 

 
One of the main advantages of doing business with personal insurance brokers is that you have a team of insurance experts at your disposal. The role of these experts is to make insurance accessible to everyone, by taking the time to explain the options of the guarantees and their limitation clauses. Plus, they help you define your insurance needs so you can get the best possible coverage at the best price.

In order to better manage your insurance costs and to check whether the guarantees you have are sufficient, please take note of the following tips:

Regularly reassess your insurance needs. Ask your broker to assess your insurance needs to make sure you have enough coverage. Your broker is there to advise you and offer you guarantees that meet your needs.
Increase your deductible. The higher your deductible, the lower your insurance premium. This means that accepting the costs associated with minor risks can save you money.
Maximize the discounts available to you. You may be eligible for different discounts, for example depending on your claim file or number of years as a customer, or if you have multiple policies or if your mortgage is paid.
Put all your insurance in the hands of one insurance company. If you purchase your auto and home insurance from the same insurer, you may be eligible for an additional discount.
Opt for automatic transfers. Choose to pay your premiums through direct deposit. Some insurance companies reserve the right to terminate your warranty after late payment, which may affect you if you seek further coverage from another insurer.
Report any fraudulent situations to Crime Stoppers. Fraud against insurance companies drives up insurance costs for everyone. You can report any fraudulent situation to Crime Stoppers anonymously and you may be eligible for a cash reward if the information provided helps the insurance company conduct a successful investigation.
Car insurance :

Pay for minor damage. If you have a minor fuss, check with your broker to see what impact a small claim might have on your premium.
Check before you buy. Certain makes and models of vehicles cost more to insure due to their predisposition to theft, the frequency of claims or the higher repair costs. Check with your broker before buying.
Drive safely. The better your driving record, the lower your insurance premium.
Take preventative measures to avoid injury. Personal injury claims, among others, are contributing to the increase in insurance premiums. Did you know that by properly adjusting your headrest you reduce the risk of neck injury by 40%?
Home Insurance :

Make sure your home is supervised while you are away. During the cold season, if your residence is not occupied for more than four consecutive days, you must make sure that a competent person comes to check it daily. This measure will allow you to be covered in the event of freezing or broken plumbing, water leaks from the plumbing or the heating system. To prevent such damage, shut off the water inlet line and drain all plumbing before leaving, or install a 24-hour surveillance alarm on the plumbing and heating system.
Avoid underinsurance like overinsurance. You should determine the value of your goods, including taxes, and update your inventory at least once a year so that you are not underinsured. Also, you cannot claim more than the actual loss, which does not include the market value of the land on which the property is built. You must insure your home for the full cost of reconstruction in the event of total loss.
Inform your insurance broker of any major change in your situation. If you are considering renovating, operating a home-based business, or renting out your home, certain restrictions may apply to your warranty. Inform your broker of any major change in your situation, to ensure that the guarantees you have are sufficient.
Install an anti-theft alarm system in your home. If your residence is equipped with an anti-theft and fire alarm system connected to a cen