Did you know there are many kinds of discounts available on home and auto insurance? Talk to your insurance broker about which ones might apply to you, and keep some money in your wallet! They include:
- Discounts to non-smokers for homeowner or tenant insurance
- Discounts for households armed with security systems, deadbolt locks and smoke alarms
- Discounts for buying your auto and homeowner or tenant insurance with the same insurance provider
- Discounts for buying your auto and homeowner or tenant insurance through your student or alumni association
- Retiree Discount – as stated in the Ontario Application for Auto Insurance, “if you are the principal operator of a described automobile, are retired, have not been employed for 26 weeks or more in the last 52 weeks, do not earn or receive income from any office or employment, are not engaged in any professional occupation and are not operating a business… You must be at least age 65, or receiving a pension”
- “Pre-retirement” discounts can begin when drivers reach age 50
- Discounts on auto insurance for owning hybrid cars
- Discounts on homeowner insurance for using renewable energies or upgrading a home or property to be green
- Discounts for vehicles driven exclusively on a farm, where the chances of a collision or theft are reduced
- Discounts for insuring a new home, vs. a resale property
- Discounts for passing accredited safe driving programs
- College/university student discount: substantial savings for resident students at an institution more than 200 km. from the residence of the named insured (usually parent)
- Discounts for higher safety-rated makes of cars driven by young people
- Discount for purchasing roadside assistance from the insurance company
- ● Discount for purchasing winter tires through the insurance company
It should be noted that there are no standard discounts across insurance companies – each one offers their own. Good thing you have an insurance broker to shop around to find the deals for you!
