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Factors that influence premiums: 

The following are some factors insurance companies take into account when determining your property premium:
 
  • Location: areas that have a higher risk of crime or weather related losses would have a higher premium than those areas that have a lower risk of such losses. Also homes closer to a fire station/fire hydrant will have lower premium than those that are further away.
  • Age of home/home’s condition: a newer home or a home that has been fully updated and regularly maintained would generally have a lower premium, as the plumbing, electrical, or roof would have fewer issues resulting in less claims.
  • Loss prevention: devices which will help mitigate loss (i.e. monitored burglar alarm) will result in lower premiums as the likelihood of a claim occurring, and any resulting damages, will be reduced.
  • Number of claims you have made: there are greater discounts given on premiums the longer you remain claims-free.
  • Type of heating: homes that use a wood-burning stove as a secondary source of heating are at higher risk of fires, which results in higher premium.
  • AVIVA
  • Chieftan
  • Echelon
  • Intact
  • Travelers
  • Wawanesa
  • Heartland Farmers Mutual
  • Western Assurance