Photo credit: Joe-Lynn Design
Home Insurance Winnipeg: Intro
Welcome to your Home Insurance Guide for Winnipeg. This page will inform you about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Winnipeg.
What Are Typical Home Insurance Premiums?
This chart illustrates the average Renters and Homeowners Insurance premiums across Canada and in several provinces. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.
How Can You Save on Home Insurance in Winnipeg?
- Earthquake insurance coverage: Don’t let earthquake insurance shake you up unless you actually live in an earthquake-prone zone. Dropping earthquake protection can save you money; for example, in BC earthquake coverage can account for as much as one-third of a policy’s premium but do you really need it in Maitoba?
- Direct insurers: Have you always dealt with insurance brokers or agents? Getting a policy from a direct insurer, also called a captive agent, may save you money. A captured agent only sells products from one company.
- Bundle: Most companies offer a discount if you bundle polices, such as home and auto.
- Mortgage insurance: Do you have life insurance? If so, you may have enough coverage to forgo mortgage insurance. Mortgage insurance is another name for a life/critical illness and disability insurance that pays off your outstanding debt on your home in case of a tragic event. For example, a term life policy large enough to pay off your home is usually cheaper.
- Stability of residence: Lived in the same residence for years? You may be eligible for a stability discount. A few insurers offers one.
- Alumni: Graduates from some Canadian universities, such as University of Toronto, McGill University and NAIT, may qualify for a discount through select providers.
- Professional Memberships: Are you a member of a professional organization such as Certified Management Accountants of Canada? Some companies offer discounts to professional members, and some organizations offer their members insurance policies.
- Wiring: Not all wiring is created equal. Make sure you have approved wiring and be sure to avoid aluminum wiring, which can be very expensive to insure. Not all insurers will cover houses with aluminum wiring, and those that do usually require a full electrical inspection of the house.
- Renovations: Renovating your house can result in lower home insurance premiums, as home insurance premiums for older, poorly maintained homes are usually higher. Also, updating only parts of your house, such as the basement or kitchen, may lead to savings on your insurance.
Our Publications related to Home Insurance
How Much a Good Condo View is Worth Today?
June 22nd, 2018
A prospective buyer is always going to be focused on a condo unit’s view. Unlike a house, these units rarely have multiple windows to the outside in various directions. The exterior wall, which usually is either glass or contains a balcony, is likely the only point of contact with the natural world.[...]
Own your home? You could be eligible for these tax credits and rebates
April 18th, 2018
It’s no secret that property prices in many urban areas of Canada are on fire. And it’s not limited to just the core of Toronto and Vancouver. Houses for sale in Hamilton, for example, have doubled in price in the last decade and houses in Mississauga are almost $750,000. It’s increasingly hard for [...]
How Competitive is it to Buy a Home in Toronto? INFOGRAPHIC
March 6th, 2018
Toronto real estate has been tumultuous in the last few years. At first, everything was going, up, up and up. Record low-interest rates made huge mortgages more attractive, and few new suburbs were developed thanks to the Greenbelt. Almost 90, 000 Newcomers were moving to Toronto each year, along wi[...]
Canadian Condo Review Platform CondoEssentials Launched
February 13th, 2018
InsurEye Inc has announced the launch of a new website: CondoEssentials. The new site is a condo review platform that has been designed to better inform Canadians about real estate, with a particular emphasis on condominiums.
InsurEye has been informing consumers about details of auto, life and c[...]
Ten Tips for Selling Your Home in January
January 15th, 2018
Is a new job or another factor making you fret about the need to sell your home in January? Save your emotional energy for a good marketing plan, a good sales agent and your unleashing of optimism. Real estate sources note that nowadays fewer bad times to sell exist in major city markets. While ackn[...]
 Home Insurance by Province |
||
|---|---|---|
| Home Insurance in Alberta | Home Insurance in British Columbia | Home Insurance in Manitoba |
| Home Insurance in Ontario | Home Insurance in Saskatchewan | |
