Comments on: Mortgage Free? Ask for a discount on your home insurance

By: Home Insurance Premiums Increasing Sharply | MoneySense

Home Insurance Premiums Increasing Sharply | MoneySense — Wed, 09 Mar 2011 14:50:27 +0000

[...] Mortgage Free? Ask for a discount on your home insurance [...]

By: This and That: Q3 2010 Bank Earnings and more… | MoneySense

This and That: Q3 2010 Bank Earnings and more… | MoneySense — Tue, 07 Sep 2010 14:58:51 +0000

[...] Mortgage Free? Ask for a discount on your home insurance [...]

By: Once you pay off your mortgage, ask for a home insurance discount | Ellen Roseman

Tue, 31 Aug 2010 03:09:18 +0000

[...] own your home free and clear, you can save on home insurance. Canadian Capitalist noted this in a recent post, while not saying why insurers offer this [...]

By: dj

dj — Sat, 10 Apr 2010 13:00:46 +0000

Ok,reporting back on this deal…the % off is not the same for everyone(10 to 25%) and you must be HELOC free also…cost of letter from your lawyer and you have to sign off on a credit rating anytime they want it. oh one other thing ,you must have your car insurance with them too.

By: 20 Cents from March 2010 | Balance Junkie

20 Cents from March 2010 | Balance Junkie — Thu, 01 Apr 2010 09:39:12 +0000

[...] Canadian Capitalist gave us another good reason to pay off our mortgage A.S.A.P.: Mortgage Free? Ask for a Discount on Your Home Insurance. Who [...]

By: Cas

Cas — Sat, 27 Mar 2010 21:59:10 +0000

The Co-operators were quick to tell us when we signed with them, that as soon as our mortgage is paid off, to let them know, so that they could give us a discount.
I like that they told us this upfront.

By: gene

gene — Wed, 24 Mar 2010 18:01:03 +0000

5% here – Portage Mutual, based in Manitoba. Not much, no incentive to pay off a mortgage early.

By: Dale

Dale — Wed, 24 Mar 2010 17:51:52 +0000

I tried our underwriter for a discount on our homeowners insurance, and they offer none. It seems even without any special discounts the cost of our Policy (Canadian Direct) is still way lower than others.

By: freebird

freebird — Mon, 22 Mar 2010 20:21:28 +0000

@MortgageFree…re auto insurance reduction with paid loan…I believe with car leases there is a slightly higher rate and I do think when we paid our car loan through the manufacturer off early and received the release as proof our insurance was reduced by a small amount. Our broker says when it comes to discounts there are few common ones and most vary per ins company. I say it’s worth a call though to ask about ALL discounts offered by your current company. I will say we’ve been with our broker for many, many years and the same insurance company for a quite a few…it paid off in spades with 2 previous accidents and having a rep who knows you very well to go to bat for you when needed.

By: dj

dj — Sat, 20 Mar 2010 00:40:13 +0000

Well next month i need to renew with co op ….so i’ll report back CC