Money-Saving Tips on Home Insurance Coverage in Toronto

Buying a new property or home is a big investment and therefore getting good insurance cover is essential. As property rates soar, so too is the cost of home insurance. At Icon Insurance Brokers, we provide you with some of the best money-saving tips that help you get the most out of a home insurance policy in Toronto.

Money-Saving Tips

Our insurance advisors aim to help you get the right coverage at the right price. A few tips to save money on home insurance are:

  • Opt for a new home: If you are looking to buy a house, we recommend you purchase a newly constructed home, as many insurers give discounts or offer low premiums on newly constructed houses.
  • Avoid banks: If you have set aside money for the down payment of a home, or have cash in hand, it is advisable to opt for a less expensive house and go mortgage-free. This might land you an extra discount from your insurance provider.
  • Less is more: It is always wise to stay protected, but simultaneously you should avoid over-insuring your home and belongings. Take time out to think about what coverages you need and don’t. This move will save a lot of cash.  
  • Opt for a higher down payment: The higher the down payment is, the lower the premium will be. Also, keep in mind that many insurers give discounts to clients who are claims-free.
  • Bundle other insurances: Insurance companies offer attractive rates and incentives to repeat customers. So, consider purchasing all of your policies from the same company.

Connect with the licensed home insurance brokers at Icon Insurance Brokers today for more details!

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General Information

Icon Insurance Brokers
1920 Yonge Street, Suite 106
Toronto, ON

M4S 3E2


Monday - Friday 09:00 AM - 05:00 PM

Saturday - Sunday Closed


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