When it comes to protecting your home, you want the right coverage, nothing more, nothing less. But finding that sweet spot between solid protection and an affordable premium can feel like a challenge. The good news? If you live in Ontario, there are several smart and legitimate ways to save on home insurance without cutting corners.
Whether you’ve just bought your first home or you’ve been settled for years, these tips will help you make more informed decisions and keep more money in your pocket. Let’s explore what really works when it comes to lowering your home insurance in Ontario.
1. Bundle Your Home and Auto Insurance
One of the easiest and most effective ways to save on home insurance is by bundling it with your auto insurance. Most insurers in Ontario offer discounts when you combine your car insurance and home insurance with the same provider.
This auto and home insurance bundle in Ontario can offer you up to 15 or even 20 percent in savings, depending on your insurer. But the benefits go beyond the discount. Bundling means fewer bills, less paperwork, and a single renewal date to keep track of. It also makes it easier to spot coverage gaps or overlaps that can cost you down the road.
2. Raise Your Deductible, Within Reason
Your deductible is the amount you agree to pay out of pocket before your insurance kicks in. Choosing a higher deductible can lower your premium, but only if it’s still an amount you could comfortably cover in an emergency.
In Ontario, many home insurance policies start with a deductible of $1000. Increasing it to $2000 or more could reduce your premium, especially if you’ve never made a claim. However, be cautious. You don’t want to choose a deductible so high that you delay filing a claim when you really need the help.
3. Improve Your Home’s Security
Insurance providers love a well-protected home. If your house has features that reduce the risk of fire, theft, or water damage, you’re likely to qualify for discounts.
Some upgrades to consider:
- Monitored alarm systems
- Smart smoke and CO2 detectors
- Sump pumps with battery backup
- Leak detectors in bathrooms or basements
- Updated wiring or plumbing
In Ontario, these preventive measures are often rewarded with lower premiums. Even small upgrades can make a big difference.
4. Don’t Overinsure or Underinsure
It’s easy to assume that more coverage equals better protection, but that’s not always the case. Make sure your policy reflects the actual replacement value of your home and belongings, not the market value or outdated estimates.
Over time, renovations, new purchases, or even downsizing can change the value of what needs to be covered. A quick review with a broker can help ensure you’re not paying for coverage you no longer need or missing protection you now require.
We often see Ontario homeowners unknowingly overinsuring by including the value of their land in the replacement cost, which is unnecessary because land is not insurable.
5. Maintain a Clean Claims History
In Ontario, as in the rest of Canada, your claims history plays a big role in your premium. A long stretch without any claims can qualify you for a claims-free discount. On the other hand, multiple claims within a short period can cause your premiums to increase, even if each claim seems minor.
Whenever possible, handle small repairs on your own if they cost less than or slightly more than your deductible. Reserve insurance claims for significant issues, those that genuinely affect your ability to live in or protect your home.
6. Ask About Discounts—They Add Up
Many homeowners don’t realize how many discounts they might be missing out on. Ontario insurers often offer additional savings for:
- Being mortgage free
- Living in a newer home
- Retiree status or being over a certain age
- Having no prior claims
Even if your situation has changed since you first bought your policy, it’s worth checking. A five-minute conversation with your broker could uncover savings you didn’t know existed.
7. Review Your Policy Annually
Your life changes—your insurance should too. An annual review ensures your policy still fits your lifestyle and budget. Maybe you’ve finished a basement renovation, installed a backflow valve, or purchased new valuables. Or maybe your kids moved out, and your risk profile has changed.
An up-to-date policy avoids surprises during claims and helps you catch new savings opportunities. Your broker can also shop around to see if a better rate is available, without compromising coverage.
8. Work With a Broker Who Knows the Ontario Market
While it’s tempting to go directly through an insurance website or app, having an Ontario-based broker in your corner makes a big difference. Brokers can explain the details that might get glossed over online and ensure your home insurance in Ontario meets all provincial standards.
At Levitt Insurance Brokers, we don’t just help you save—we help you understand what you’re getting. We work with multiple Canadian insurance companies so you can compare real options, not just take the first offer you get.
We also make it easy to explore insurance bundles, compare auto insurance in Ontario, and manage your policies all in one place. Whether you own a condo in downtown Toronto, a townhouse in Hamilton, or a detached home in Kitchener, we’ll help you find a solution that makes sense for your home, your car, and your peace of mind.
If your home insurance policy hasn’t been reviewed in the past year, now’s the time. You could be missing out on significant savings, better coverage, or both.
Let our team at Levitt guide you through a no obligation comparison. You can do that through a quick home insurance quote online or by booking a meeting with us. We are here to help you with all your insurance needs.
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