Home insurance discounts and savings

Comprehensive home insurance doesn’t have to break the bank. At Square One Insurance Services, multiple discounts and savings can apply to your policy, helping you make your home insurance more affordable. Discover how you can get a personalized and affordable home insurance policy and start saving today.

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Age

If you’re a senior, you could save money on your home insurance policy. Seniors often have fewer claims compared to other demographics.

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New home

Newer homes tend to have fewer claims. If your home is new or only a few years old, your home insurance premium may be lower.

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Claims free

If you haven’t had a claim in the three years preceding the purchase of a new home insurance policy, you could be eligible to receive a claims free discount. The longer you stay claims free, the more you can save.

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New hot water heater

Hot water heaters (hot water tanks) generally last between 10-20 years. The older your hot water heater is, the more likely it is to fail and cause a serious flood. Having a newer hot water heater can help reduce your premium, because the likelihood of such claims is reduced.

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Fire protection

The distance from your home to a responding fire hall, as well as to any fire hydrants, strongly impacts your home insurance premium. You may receive a lower premium if your home is located close to a fire station and a hydrant. And, if your home is located in an area at risk of wildfire, fire-resistive features like non-combustible roofs and siding may also reduce your premium.

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New roof

Depending on how old your roof is, you could receive a lower home insurance premium. New roofs are less vulnerable to wind damage and help protect the home from severe weather, reducing the chance of a claim. This is only available to detached homes.

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Insurance score

An insurance score is determined by multiple factors that insurance providers use to calculate the risk involved with insuring you and your property. If you improve your insurance score, you could receive a better premium on your home insurance over time. To learn more, visit A Guide To Understanding Your Insurance Score.

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Payment history

By paying your insurance premiums on time and avoiding any cancellations for non-payment, you could receive a lower premium on your home insurance than those who do not pay on time.

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Loyal customer

If you don’t have a mortgage on your home, you’ll receive a mortgage free discount. This is because homeowners who own 100% of their home tend to have fewer claims.

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Sump pumps and sewer backflow valves

If your home is located in an area at elevated risk of sewer backup, having a sump pump or sewer backflow valve can help reduce your premium by reducing the change of a severe sewer backup claim.

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Mortgage free

If you don’t have a mortgage on your home, you’ll receive a mortgage free discount. This is because homeowners who own 100% of their home tend to have fewer claims.

How are discounts applied to my policy?

Your discounts and savings are automatically applied during the quoting process. They are reflected in your premium when you buy and at the time of renewal. Unsure if you qualify for a discount? Call 1.855.331.6933 and a licensed agent will be happy to assist.

Want to save more money on your homeowners, renters or condo insurance policy? Here are 9 other ways you can save money on your policy payments.