As Canadians deal with the higher cost of living, now is as good a time as any to scrutinize monthly bills and expenses. However, while many consider saving money on phone bills, utilities, and groceries, a new TD Insurance survey finds that few Canadians polled consider ways to save on home and auto insurance.
“Many Canadians find insurance complicated,” says Bruno Jauernig, the vice president, and executive journey product owner at TD Insurance. “And a number of Canadians also see it as a fixed cost that won’t change. It’s a ‘set it and forget it’ mentality.”
However, Jauernig says today’s insurance rates are competitive. That means there are opportunities to save if you shop around for home and auto insurance, especially if your current policy is ending or you’re moving or purchasing a new vehicle.
He adds there are over 30 ways to save on home and auto insurance with TD Insurance, so customers should take the time to explore their options and ensure they’re getting the right coverage at the best possible price.
In partnership with TD Insurance, here is a sample of the over 30 ways you can save on home and auto insurance (conditions apply):
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Be claims-free
The longer you’re free of home or car insurance claims, the more savings you can potentially earn. TD Insurance offers eligible customers a Claims Free Reward.
Bundle home and auto insurance
Using the same provider and bundling your car insurance with home, condo or tenant products could reduce your overall monthly cost. Add it all up, and that could translate into annual savings worth getting excited about.
Take advantage of alumni savings
According to Jauernig, many people don’t realize their alma mater may affect their insurance quotes, and TD Insurance works with several Canadian universities and colleges to offer even more preferred rates.
Employer group preferred rates
Certain employer groups also qualify for preferred rates with TD Insurance. According to Jauernig, TD Insurance currently works with more than 400 qualifying employer groups with exclusive pricing just for them.
Quote and buy online
Wondering how much you could save with TD Insurance? Get a free online quote now. Clients who get a quote and buy online could be eligible for savings.
Multi-vehicle discount
If you have more than one vehicle, consider insuring both with TD Insurance to take advantage of their multi-vehicle discount for more potential savings.
Hybrid or Electrical Vehicle Discount
If you own a hybrid or electric vehicle, you can save on car insurance when you insure your hybrid or electric vehicle with TD Insurance. “You’re not only saving on your fuel costs, but there are some other potential insurance savings to be had there as well,” Jauernig says.
Higher deductible for lower premiums
If you choose a higher deductible (the amount you agree to pay first when settling an insurance claim) for car or home insurance, you could also lower your premium. “It’s really dependent upon your situation and the needs you have,” says Jauernig.
Monitored Home Security Savings
Having a monitored home security system could also lower your home insurance premium and provide you with the added assurance that your home is protected.
Multi-home savings
If you own more than one home, bundling your home insurance with TD Insurance makes sense. Not only will your home insurance policies be in one place, but you could also secure an extra discount.
Newly built home savings
New homes can benefit from lower rates. That’s because, in general, newer homes are less likely to experience claims for loss or damage. “You could qualify for a discount on a new home because the likelihood of something happening is quite a bit lower than with an older home,” explains Jauernig.
New roof savings
Installing a new roof can provide better protection for your home against severe weather and could also lower the cost of your home insurance with TD Insurance.
Looking for more ways to save? Learn more about the over 30 ways to save on home and auto insurance with TD Insurance here.
Sponsored by TD Insurance
TD Insurance residential and personal lines automobile insurance policies are underwritten by Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company, and TD Home and Auto Insurance Company, and are distributed by TD Direct Insurance Agency Inc. and Meloche Monnex Insurance and Financial Services.
Due to provincial legislation, TD Insurance does not offer personal lines automobile insurance products in British Columbia, Manitoba, or Saskatchewan.