How to cancel home insurance?

How to cancel home insurance?

To cancel your home insurance contract, you must send a cancellation notice to your insurer. Cancellation takes effect when the latter receives your mail (the postmark being taken as proof) - and not at the time of sending. However, your insurer is not required to send you an acknowledgment of receipt. You may need to contact them to get confirmation of the effective termination of your contract.

It is important to note that your home insurance can be canceled at any time. However, if you cancel before your contract renewal date (usually every year), your insurer will most likely ask you to pay:

    A penalty for early termination (set in the conditions of sale)
    All premiums remaining between the date of your cancellation and the date of your next contract renewal.

What are the home insurance companies in Quebec?

There are long established home insurance companies in Quebec that own most of this important market. You can consult our guides dedicated to home insurance companies in Quebec, a list of which you will find below:

    National Bank home insurance
    Industrial Alliance home insurance
    Home insurance from The Personal
    RBC home insurance
    Promutuel home insurance
    TD Home Insurance.

7 good questions to ask yourself when renewing your home insurance

Sometimes you may be tempted to do different home insurance quotes to see if it might be worth switching insurers. When the time comes to renew home insurance, it is indeed important to ask the right questions. Here are 7 that we advise you to answer before making your choice.

    Has your home changed? Has it undergone any modifications or improvements? This can affect your home insurance premiums. For example, if recent work has increased the value of your home, you will need to opt for more protection.
    Did you buy valuable furniture? If so, check that your insurance covers the value of these goods.
    Did you buy any valuable items (like jewelry, artwork)? Pay attention to the restrictions imposed by your insurer, as there may be limitations.
    Have you acquired computer equipment? There may also be restrictions on the amount, take a look at what is stipulated in the contract.
    Do you have a pet ? This can also affect the amount of premiums.
    Has a family change taken place? Have you had a child? Did you get married? do you live with anyone? you must notify your insurer.
    Have you installed uninstalled an alarm? Installing an alarm will lower your premiums. On the other hand, if you have removed it, it will increase the price of your home insurance.

5 tips to save on your home insurance

Home insurance can represent a major monthly expense in the life of a Quebec household. This is why it is important to put into practice some good ideas to find the best quote at the best price. Here are 5 tips:

1.Secure your home

The idea is to make your home more secure and less risky. Installing an alarm is a great idea, the best is to have one connected with a private security company. Thus, your insurer will be reassured, and your premium reduced.

2. Increase deductibles

Insurance companies may ask you for the level of deductible you are prepared to pay in the event of damage. To be clear, the higher you choose a deductible level, the lower your premium will be. You can therefore increase your deductible level to obtain a lower premium.

3. Combine your home insurance with auto insurance

In Quebec, many insurers offer to combine auto and home insurance. We have listed the discounts available or the savings achieved by taking out both insurances from the same company (see the dedicated section below).

4. Do not fall into over-insurance

While you need to find the right level of coverage for your movable and immovable property, you must avoid falling into the excess of wanting to insure everything. Keep in mind that the more claims you make, the more likely you are to pay deductibles, while your history deteriorates.

5. Shop home insurance quotes

Taking the time to shop around for different home insurance quotes is essential to getting the best price. Indeed, premiums vary from one insurer to another, sometimes significantly. It is therefore good practice to use a home insurance quote comparator like the one offered by Hello Safe to reduce your premium amount, and to find the best home insurance price.
Combining auto and home insurance: what discount can you get?

Often insurers offer discounts if you bundle your auto and home insurance.