Insurance is one of those grown-up things you think you will never need until suddenly you do.
While the temptation is real to sign up for any basic policy just to check “buy insurance” off your to-do list, it pays to shop around for something that fits your lifestyle and budget just right.
With belairdirect, for example, you can have better control over your premiums (using their automerit program), plus discounts and add-ons.
They even have a slick app where you can find all your manage your policies and submit and track claims all in one place — no more rummaging through a filing cabinet for your statements (it’s 2022, after all).
It’s a wise move (and, in some cases, mandatory) to get insurance, and it’s normal to feel a bit overwhelmed by the whole deal.
To help you become a money-saving machine, here are seven insurance-rate-lowering tips to arm yourself with.
Bundle Your Home & Car Insurance
Bundling your home and car insurance is one of the easiest ways to scoop up a lower rate.
You can usually save on each when you combine your home and car policies. And then, when you file a claim involving both, you'll only have to pay one deductible.
Plus, having everything bundled together makes it quick and easy to manage.
Put Some Extra Security In Place
Setting up alarm systems (like a burglar alarm system or monitored fire alarm system) can often help lower your insurance rates.
Other than saving money on your premiums, these steps can also prevent you from becoming a target of theft or serious damage.
Making sure your fire alarms have batteries and maintaining your roof and gutters can help prevent avoidable (and expensive) damage too.
Ask About Multi-Vehicle Discounts
This tip feels like an actual life hack because you can cut your rate by just making a call.
If several family members in your household drive cars, you can often score savings for everyone with a multi-vehicle discount.
There are usually some eligibility requirements, like that all the cars have to be stored at the same address, so make sure to check with your insurer.
Protect Your Good Driving Record
By staying below the speed limit, braking smoothly, and not texting while driving, you’re being a safe driver and keeping your insurance rate low too.
While your driving record plays a big part in determining your car insurance rate, some companies are able to reward your safe driving in real time.
For example, if you switch on automerit in the belairdirect app, you could save on your insurance premium when it comes time to renew — as long as you’ve been driving safely.
Make Use Of Available Discounts
Whether you're a student, have a work discount or are over 50 years old, there are ways you can save just by being you. To find out what offers are available, get in touch with your insurer.
A lot of providers will also reward you for being a loyal customer, so keep an eye out for discounts when your policy renews.
Tailor Your Policy When Things Change
Did you know many factors like how much you drive can impact your insurance rates?
For example, if you’ve been working from home and the kilometers you drive each week have drastically fallen, you could get your insurance rate lowered as a result.
When life circumstances change, it’s always worth checking in with your insurer to see if you can score a lower rate.
Sign Up For Accident Forgiveness
Even for safe drivers, accidents happen and cause insurance rates to climb. For some extra peace of mind, you can sign up for Accident Forgiveness.
The Accident Forgiveness endorsement is an optional extra that can help prevent your premium from going up after a collision (as a result of your first at-fault accident). This can help you save a lot of money in the long run.
Every province has different conditions you have to meet in order to qualify, but you’re usually good to go if you have a clean driving record.
It’s worth it to take the time to shop for an insurance policy that fits your life, needs and budget. And, with tips like these, you’ll never need to pay more than you have to for home and car insurance.
The best way to save is to go with a provider that will help you build a plan that's custom to you - like belairdirect.
They have great rates and make it easy to manage all of your policies and claims with the belairdirect app. And with features like automerit, you have the power to keep your rates where they should be.
To learn more about how you can save on your home and car insurance, check out belairdirect's website or follow them on Instagram, Facebook, Twitter and YouTube.
This content is for general informational purposes only and does not constitute financial, investment, legal, tax or accounting advice.