5 ways to save on insurance

We all want to make sure that we’re getting the most for our money. Plus, saving a little bit here and there can add up to a lot over time. But where can you save when it comes to your insurance? We’re glad you asked. Here are 5 ways to save on your home and car insurance (starting today) to help you get closer to your savings goal.

1. Find an insurance company that suits your needs

Shop around and compare your coverage details. If you like one package over another, switching insurance providers mid-term may be easier (and cost less) than you think. To help make your decision, use our handy Cancellation Calculator to calculate potential savings you could get by switching. You don’t have to wait until it’s time to renew to change insurers. But generally, the closer you are to your renewal date, the less it will cost to cancel with your current insurer.

2. Insure everything with the same insurance company

By insuring both your home and your car with the same company, you could receive a multi-policy discount. With Sonnet, bundling could save you up to 20% on your premium. Think about how much that could add up to in a year!

You can also receive a multi-vehicle discount when you insure more than one car with the same insurer.

3. Add a group discount

While shopping around, look out for what savings and discounts different insurance companies can offer you. For example, you could qualify for preferred rates with a particular provider due to your profession, education, or group membership. Group insurance plans can help give you a break on your home and auto premiums, so it’s worth asking if you qualify for a group discount with a certain insurer. For example, here at Sonnet, you could be eligible for extra savings just for being a Canadian university alumni!

4. Increase your deductible

This can help bring your monthly premium amount down, but we only recommend doing this if you think you can manage it financially. You’ll need to be able to pay your deductible up front and out-of-pocket should you ever have a claim.

5. Take preventative measures

Taking preventative measures like making sure your home’s windows are well-sealed (important for fire safety), maintaining your plumbing (like installing a sump pump or backflow valve) to prevent floods, switching to eco-friendly LED light bulbs, or installing a home security system can reduce risk around your home, which can help you save. By being proactive, you are lowering the chance that you’ll need to make a claim.

In terms of saving on your car insurance, winter tires are a great way to prevent any extra costs from snow-related collisions, and to get a discount on your premium (if you live in Ontario). Properly preparing your car for the season is a must for Canadian winters, but it’s also important to always make sure your car is running in tip top shape to help prevent unexpected accidents.

Whether you make these updates prior to getting a quote, during your policy term or when you renew, just call your insurer to let them know – they should make any changes to your premium that apply.

With these tips, you can keep a little more money in your pocket each month. Price is a big factor when it comes to picking an insurance policy, but one place you never want to skimp is on your coverage. By paying more now for additional coverage and higher limits, you could end up saving way more in the long run.



Bundling discount reflects the best possible savings a customer could receive by bundling their home and auto coverage. Depending on your quote details, you may not be eligible for a discount.


Start saving on your insurance.