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How to Save Money on Car and Home Insurance

How to Save Money on Car and Home Insurance

Everyone likes to save money, especially when prices are rising. You can save money on your car and home insurance premiums when you’re better informed as a consumer.

Instead of reducing your insurance coverage, you can save money on your car and home insurance with some smart tips.

Switching your car insurance and home insurance is easy. You can save up to 30% when you switch your car and home insurance to Western Financial Group.

Here’s how it’s easy to switch your car insurance policy

You’ll need your driver’s licence, along with the driver’s licence of anyone else in your household that will be on your car insurance policy. You will also need the VIN (vehicle identification number) for your car.

You’ll need to say whether your vehicle is financed or leased along with the payment details, if applicable.

How can you save money on your car insurance?

Ask us about possible car insurance discounts:

  • You’ve have been accident-free for a specified period of time, which varies depending in which province you live.
  • You drive fewer than 10,000 kilometres a year.
  • You own a hybrid or electric vehicle that is recognized by the Insurance Bureau of Canada (IBC).
  • You have no convictions within a specified period of time.
  • You have both home and auto insurance with Western. Bundle and save.
  • Do you have anti-theft devices installed in your car?
  • Do you qualify for a multi-vehicle discount? If you insure more than one vehicle, you can save money.
  • Winter tire discount. Depending on which province you live in, you could be eligible for a discount.
  • A vehicle that's less expensive to repair or replace could help reduce your car insurance costs.

Here’s how it’s easy to switch your home insurance policy

You’ll need to provide detailed, accurate, up-to-date information about your home, such as square footage, how your home is heated, and if there are any recent renovations.

Don’t forget to let your mortgage lender know that you are switching home insurance providers.

You can switch your home insurance with an open claim, but your claim stays with the insurance provider that handled your claim when the event occurred, even if you switch to a different insurance company.

Ask us about possible home insurance discounts:

  • Do you have a home security system?
  • Do you have a water leak detection system?
  • Are you a mature homeowner?
  • Are you a mortgage-free homeowner?
  • When you bundle your home insurance and car insurance, you can get a discount and you’ll get one bill, not two, every month.
  • You could save based on the year your house was built.

Do you know how car and home insurance premiums are determined?

How are car insurance premiums calculated?

The make, model, and year of your vehicle can all affect your car insurance premium.

How much you drive and how you use your car also can impact your premium.

Your driving record and the coverage you choose, including your deductible, can affect your car insurance premium.

Inflation, parts and labour shortages, and government regulations also can impact your auto insurance.

How are home insurance premiums calculated?

The location and age of your home are factors in calculating your home insurance premium.

How close you are to a fire station is another factor used to adjust premiums.

With oil heating, you may have to pay more than you would with a gas furnace or electric heat.

Having a finished basement could lead to an increase in your premium.

Typically, the more coverage you purchase, the higher your premium will be.

Home and car insurance premiums are expected to rise in 2024.

Home insurance premiums are expected to be impacted due to inflation, extreme weather events, and high claims costs, similar to what happened in 2023.

Car insurance premiums are being impacted, too. Inflation is having an effect on car insurance because parts suppliers and dealerships are facing supply chain challenges, including a chip shortage, worker shortage and low inventory.

Western makes switching your car, home, or business insurance easy for you.

When you choose Western Financial Group as your insurance partner, you receive the following and much more:

  • Bundle your home, car, and recreational vehicles to save
  • Our insurance experts get you personalized coverage
  • Peace of mind if you file a claim
  • Business insurance that grows with your small business
  • You can be confident you’ll get right coverage at the right value