A home is usually the biggest purchase you’ll make in your life, and it also contains all your belongings. Therefore, it stands to reason that you want your home to benefit from the best possible protection. But that doesn’t necessarily mean that you don’t want to save money on your insurance premiums, especially since premiums are rising every year due to the increased cost of rebuilding your home.

In this article, Assurance Multi-Risques wants to share the pitfalls to avoid if you want to reduce your home insurance premiums.

7 mistakes to avoid when trying to save money on your home insurance premiums

Making claims too frequently

To avoid premium increases, it is recommended to keep a clean claims record because, as with car insurance, you will be able to benefit from a claims-free discount.

Of course, the vagaries of life sometimes make it impossible to be claims-free. In such cases, make a claim only when it’s worth it. An independent insurance broker can help you make the right decision.

Neglecting to install an alarm system

 Installing an alarm system connected to a police station could qualify you for a discount of up to 15%! However, the savings vary from one insurer to another.

An independent insurance broker representing several companies will be able to find the most favourable price for you by comparing quotes from several of them.


 Fire is one of the biggest home insurance risks. Therefore, if you are a non-smoker or if you refrain from smoking, you could benefit from a discount!

 Not reporting renovations

 You may have mistakenly believed that any improvement made to your property would cause your premiums to increase. This certainly may be the case!

But certain renovations, such as upgrading plumbing, replacing your roof, removing a wood stove or replacing an oil heating system, could in fact save you money! So it’s best to report them to your insurer.

Choosing inadequate coverage

Be sure you have all the insurance coverages that meet your needs and that are right for your property. By doing so, you will be properly covered in the event of a claim, which will prevent you from having to pay out of pocket. Also, refrain from taking out unnecessary coverages because they will entail unwarranted expense.

A totally impartial independent insurance broker can guide you in choosing the right coverage.

 Neglecting to regularly update your file

Certain changes in your life and, as mentioned, certain improvements made to your property, can make some of your coverages unnecessary. Take the time to update your file with your insurer to ensure you are paying the right price!

*To know when it’s worth informing your insurer, read this previous blog article, which provides a list of several factors affecting your premium.

Not doing business with an independent insurance broker

Instead of shopping around at different insurance companies, rely on an expert in the field: an independent insurance broker.

Because they represent several insurers and have no financial ties to any of them, they are free to find the best coverages for you from one of them at the best possible price. They can also provide advice, handle everything and do the legwork for you.

In conclusion, whether you’re an owner or a tenant, your home should be well protected! However, it’s always great to save money, but you have to do it properly, without neglecting your coverage.

To do so, an independent insurance broker is your best ally, because they can find the best coverages for you at the best price. Don’t hesitate to contact one of the members of the AMR team for a quote!

And to find out how to save on your car insurance premiums, read our previous blog article on the topic.