Every dollar counts, especially during retirement. Our team has prepared a quick checklist to help you uncover insurance savings and protection that you could be eligible for. This is a generic list of possible discounts and recommended coverage typically associated with protecting the retiree lifestyle.
Additionally, it’s important to build a relationship with your insurance broker to explore options on a regular basis. Connecting with your broker will help you save money and build an insurance strategy to help protect your retirement.
SAVE
Sometimes, eligible insurance discounts are missed because your insurance broker is not aware of changes in your life. It’s important to talk to your insurance broker regularly about your retiree lifestyle to help uncover the savings you deserve.
Below is a list of general discounts and the potential savings for each:
✔️ Combine home and auto insurance discount (up to 18%)
✔️ Multi car discount (10%-15%)
✔️ Winter tire discount (2-5% off comprehensive coverage)
✔️ Low-mileage driver program – telematics (up to 30%)
✔️ Pleasure use rating (5%-10%)
✔️ Mortgage free discount (10%-20%)
✔️ Home alarm discount (up to 10%)
✔️ Retiree discount (10% off car accident benefits coverage)
✔️ Home updates discounts (up to 10%)
PROTECTION
Protecting your retirement sometimes requires an insurance investment. Talk to your broker about these simple policy enhancements to help avoid high-risk expenses due to an uninsured accident. Below are some coverages to consider:
✔️ Overland water coverage
✔️ Review water damage policy limits
✔️ Claims and conviction protection
✔️ Identity theft
✔️ Home-based business
✔️ Waiver of depreciation on new vehicles
✔️ Review car accident benefits coverage
SUPPORT
Look for value-added services to help support your retiree lifestyle. Brown & Brown Canada offers Intact Lifestyle Advantage (for Novex policyholders). Customers aged 50+ get additional lifestyle support and enhanced insurance coverage. Some features of the program are highlighted below.
✔️ Cash settlement for loss of home or contents
✔️ Waived deductible
✔️ Reimbursement for home care service
✔️ Child care, support services for children and teens
✔️ Personal wellness services
✔️ Home, residential and community care for seniors
If you are aged 50 or over, take the opportunity to do an insurance review with Brown & Brown Canada. We can help you uncover insurance savings and work to ensure comprehensive coverage. Connect with one of our insurance brokers today.