Quick Answer: The five best ways to save on home insurance in Quebec are to raise your deductible, bundle your home and car insurance, install qualifying security systems, maintain a claims-free record, and keep your home’s major systems up to date. Not every insurer offers the same discounts, and the right combination depends on your property and situation.
Qubit Insurance helps homeowners with insurance in Montreal and across Quebec pay less for home insurance without giving up the protection they need. Some savings are as simple as adjusting your deductible or asking for a discount. Others come from improvements you have already made to your home.
Below, we explain what to look for, which questions to ask, and how to confirm the actual savings before making any change. For a personalized review of your current policy, check out the home insurance policy we offer in Montreal or call (450)-234-2120.
1. Increase Your Deductible to Lower Your Home Insurance Premium
Your deductible is the amount you pay toward a covered claim before your insurer pays the eligible remainder. A higher deductible means a lower premium, because you agree to absorb more of a loss yourself. It is one of the first options worth comparing when you want to reduce your insurance costs.
How Much Can You Save With a Higher Deductible?
Say your current policy has a $500 deductible and your insurer also offers a $1,000 option. If your annual premium drops from $1,400 to $1,310, you save $90 per year. But after a covered claim, you pay $500 more out of pocket. These are illustrative numbers, not actual Qubit Insurance quotes.
The real question is whether the lower premium is worth the extra amount you would pay after a loss.
How to Choose a Deductible You Can Afford
Before you raise your deductible, think about three things:
- Your emergency savings. Could you easily pay the higher deductible if something happened tomorrow?
- The actual savings. Is the yearly saving big enough to make the change worth it?
- Other deductibles in your policy. Does your policy have a separate deductible for some water damage losses or other covered events?
Quebec's financial regulator, the Autorité des marchés financiers (AMF), lists raising your deductible as one way to pay less, as long as you can afford it and the saving is worth it to you. For context on what Montreal homeowners typically pay, see how much home insurance costs in Quebec.
Key takeaway: Compare the actual premium difference before raising your deductible, and choose an amount you can afford after a claim.
2. Bundle Your Home and Car Insurance for a Multi-Policy Discount
If your home and car are insured with different companies, bundle home and car insurance together to save money with one. Many Quebec insurers offer a multi-policy discount when you buy eligible home and car insurance from the same company.
At Qubit Insurance, we compare bundled quotes with separate policies to see which option gives you better overall value.
How Does Home and Car Insurance Bundling Work?
A multi-policy discount is a lower price some insurers give when you hold more than one eligible policy with them.
Depending on the insurer, you may qualify by combining:
- Homeowners insurance and car insurance
- Condo insurance and car insurance
- Tenant insurance and car insurance
If you already have car insurance in Montreal, it's worth checking whether moving your home insurance to the same insurer would lower your total premium. Still, a bundle discount doesn't always mean the lowest price.
Compare the Total Home Insurance Premium, Not Just the Discount
One insurer may advertise a 10% bundle discount while another offers 5%. That doesn't make the first insurer cheaper. The starting premium, coverage limits, deductibles and endorsements (extra coverage added to your policy) all affect the final price.
When we compare home and car insurance quotes, we look at the total yearly cost of both policies after all eligible discounts. We also check that the coverage is similar. For example, one bundled quote may cost less only because it has a higher deductible or weaker water damage protection. That isn't a better deal.
The AMF notes that insurers often give a discount when you insure your home and car with the same company, so it's worth asking each insurer what it offers. For more detail, read our guide to choosing a home and car insurance bundle in Quebec.
Key takeaway: Ask for both bundled and separate quotes. Compare the final cost and coverage, not the biggest advertised discount.
3. Install Eligible Security Systems and Prevent Water Damage
A security system can help protect your home from some losses. Depending on the equipment and the insurer, it may also qualify you for a discount. Some insurers give credit for monitored alarms, fire detection systems and water leak devices when they set your premium.
But discounts aren't automatic. The insurer may have rules about the type of equipment, how it is installed and how it is monitored.
Monitored Burglar and Fire Alarms
A professionally monitored burglar alarm may qualify for a lower premium with insurers.
Before you buy or upgrade equipment, ask:
- Does the insurer offer a security system discount?
- Does the alarm need professional monitoring?
- Does the equipment need to meet a certain standard or certification?
- What proof of installation or monitoring do I need to show?
Water Leak Detectors and Automatic Shutoff Valves
Water damage needs special attention in Quebec. According to the AMF, water damage is the number one cause of home insurance claims. A leak from a washing machine, dishwasher, water heater or pipe connection can spread before anyone notices.
A water leak detector can warn you early. Some systems also have an automatic shutoff valve that stops the water supply when a leak is found. Keep in mind that a water leak detector doesn't add coverage for every type of water damage.
Will a Security System Pay for Itself?
That depends on the installation cost, monitoring fees and the discount offered. Say a qualifying system costs $500 and lowers your yearly premium by $50. The insurance savings alone would take 10 years to cover the cost, not counting maintenance or monitoring fees.
Key takeaway: Check which security systems your insurer accepts before you install one. Choose equipment for the protection it gives, not only for a possible discount.
4. Maintain a Claims-Free Record for Better Renewal Rates
If you have not made a home insurance claim in several years, your claims history may help you get a better price at renewal. Some insurers offer explicit claims-free discounts. Others use your past claims when setting your premium or determining which options they can offer. The rules vary by insurer, so it is worth asking directly at every renewal.
How Does a Claims-Free History Affect Your Premium?
Insurers may look at the number, type, and timing of past claims when reviewing an application or renewal. A clean record could make you eligible for discounts or more competitive pricing. But no claims does not guarantee a lower premium. Renewal prices can still change because of rebuilding costs, local claim patterns, insurer pricing updates, or changes to your property.
If your premium went up even though you made no claims, our guide on why home insurance renewal premiums increase explains the factors that may be involved.
Should You Pay for Small Repairs Instead of Making a Claim?
It makes sense to understand your deductible and how a claim might affect future prices. But paying for a repair yourself doesn't mean you can skip reporting the damage.
If you report late and the delay harms the insurer, it may be able to refuse payment under a clause in your policy. A late report doesn't always mean a refusal, but reporting right away protects your right to be paid. If damage happens, contact your insurer or broker quickly, explain what happened and ask about the next steps.
Takeaway: A clean claims history may help you save, but always report possible covered losses promptly and honestly.
5. Make Home Upgrades That Reduce Your Insurance Premium
Your home’s condition plays a significant part in how insurers price coverage in Montreal and across Quebec. An aging roof, worn plumbing, outdated wiring, or an old heating system can make certain losses more likely. Keeping these systems in good shape, or upgrading them, may lower that risk and in some cases your premium.
Tell Your Insurer About These Home Improvements
Roof replacement: If you have installed a new roof, provide the installation date, material and available invoices. A newer roof may affect how an insurer assesses your property, but a discount is not guaranteed.
Plumbing and water heater upgrades: Replacing ageing pipes, worn connections, or an old water heater may help reduce certain water damage risks. Keep records of the work and share the details with your insurer because this also affects the home insurance cost in Quebec.
Electrical upgrades: If you have replaced old wiring or upgraded your electrical panel, inform your insurer and retain documentation from the qualified professional who completed the work.
Heating system changes: A change in heating equipment can affect how an insurer evaluates the property. Ask whether the change affects your premium, eligibility or coverage terms.
Will Every Renovation Lower Your Premium?
No, some upgrades lower the chance of damage. Others raise the cost to rebuild your home. Replacing old plumbing might lower your risk. Adding an extension or expensive finishes could raise rebuilding costs and the coverage you need. Tell your insurer before you start major work. The work itself may change the risks at your home and call for extra or temporary coverage.
Key takeaway: Keep your home in good shape, keep records of major upgrades and make sure your insurer has up-to-date information about your property.
Compare Home Insurance Quotes Before You Renew
Once you've checked these five ways to save, the next step is to compare your current home policywith other quotes. Insurers don't all rate the same home the same way, so two insurers may offer different prices for similar protection.
The AMF recommends shopping around every year and comparing the same coverage. At Qubit Insurance, we look at premiums, deductibles, liability limits and important endorsements, not just the price.
If you switch insurers before your policy ends, check the cancellation fee first. Then make sure your new policy is in force before you cancel the old one.
Save Money Without Leaving Your Home Underinsured
Lowering your premium shouldn't mean dropping protection you need. In the same way, removing water damage or sewer backup coverage might cut your premium but leave you facing a much bigger bill. The AMF explains that basic home insurance covers some water damage, such as plumbing problems, while other situations usually need an endorsement.
Be complete and honest when you buy or renew coverage. The AMF warns that if you leave out or misstate important facts, your insurer may refuse to pay a claim, even one that has nothing to do with what you left out. The better way to save is to find real discounts, compare insurers and keep your home's information up to date.
Home Insurance Savings Checklist for Quebec Homeowners
Before your next renewal, use this checklist to spot possible savings.
- Review your deductible. Compare the premium at two or three deductible amounts.
- Check home and car bundling. Get a combined quote and compare it with separate policies.
- Ask about security discounts. Check monitored alarms, fire detection and qualifying water leak systems.
- Review your claims history. Ask whether claims-free or loyalty discounts apply.
- Report completed upgrades. Tell your insurer about a new roof, plumbing, wiring, water heater or heating system.
- Check basement flood protection. Make sure your backwater valves meet the rules and ask whether they affect your quote.
- Compare renewal quotes. Make sure coverage limits, deductibles and endorsements match.
- Get changes in writing. Confirm the final premium and start date before you switch or change your policy.
You may not qualify for every discount, but checking each item can help you catch savings you might otherwise miss.
How Qubit Insurance Can Help You Save on Home Insurance
Qubit Insurance is an independent, AMF-licensed insurance brokerage based in Montreal. We're not owned by any insurance company, and we work with more than 20 insurance providers across Quebec. That gives us more coverage and price options to compare for you.
Our brokers can help you understand:
- Which insurers offer suitable coverage for your home.
- Whether bundling your home and car insurance could lower your total premium.
- How different deductibles change what you pay.
- Which security systems and home upgrades may qualify for discounts.
- Whether your current coverage still matches your home's condition and rebuilding cost.
Insurers pay us a commission, so you don't pay a broker fee. We also offer service in English, French, Punjabi, Hindi and Urdu, so you can talk about your insurance in the language you're most comfortable with. As your insurance broker in Montreal, we want you to understand your options before you decide. Our goal is suitable coverage at a competitive price, not just the lowest number on the page.
Frequently Asked Questions About Saving Money on Home Insurance in Quebec
1. What is the fastest way to find cheaper home insurance in Quebec?
Start by comparing your current policy with quotes from other insurers. Use equivalent coverage limits, deductibles and endorsements so you can compare the actual price difference. Also ask about bundling and discounts you may qualify for.
2. Should I pay for minor home damage instead of making an insurance claim?
It depends on the repair cost, your deductible and your policy. However, choosing not to make a claim does not necessarily remove your duty to report a loss. Article 2470 of the Civil Code of Quebec requires an insured to notify the insurer of a loss that may fall under the policy as soon as they become aware of it. Contact your insurer or broker promptly to discuss what to do.
3. Do monitored home security systems qualify for insurance discounts?
Some insurers offer discounts for qualifying monitored burglar alarms or fire detection systems. It depends on the equipment and the monitoring. A basic camera or smart doorbell may not qualify, so check with your insurer before you install a system to lower your premium.
4. Can a water leak detector lower my home insurance costs?
It may, some insurers offer discounts for qualifying water leak detectors or automatic shutoff systems, which can also limit damage by catching leaks early. But installing one doesn't add water damage coverage to your policy.
5. Can home renovations lower my insurance premium?
Some can; a new roof, updated plumbing or wiring, and qualifying water damage prevention equipment can lower certain risks. But renovations can also raise rebuilding costs, so a lower premium isn't guaranteed. Tell your insurer before major work begins.
6. How can Qubit Insurance help me find affordable home insurance?
Qubit Insurance can compare available quotes, review deductible options, check potential discounts and explain differences in coverage. The right option depends on your property, insurance needs and eligibility with each insurer. You can start by requesting a personalized home insurance quote.
Find Potential Savings Without Losing Important Coverage
Saving money on home insurance starts with reviewing what you pay, understanding what your policy covers and comparing suitable alternatives.
A different deductible, an eligible discount, a bundled policy or a well-maintained home may help reduce costs. The best option depends on your property and the insurers available to you.
Avoid reducing coverage simply to obtain a lower premium. In particular, check rebuilding limits, liability protection, and water damage endorsements before making any changes.
Ready to compare your options?
Get a home insurance quote from Qubit Insurance and review available coverage and pricing with a broker.
