Insurers price mainly on the age of major systems, roof condition and claims history, and mortgage lenders following CMHC’s requirements on insured mortgages expect you to carry adequate coverage throughout the loan, so any savings still has to clear that minimum before it counts as real savings.
Getting quotes from a few different brokers, rather than renewing automatically each year, is the other lever most homeowners skip. Saskatchewan allows shopping across several insurers for the same property, and a broker who knows the local risk factors can often place the same coverage for less.
Joel Dyck flags condition issues during an in-person walkthrough that let you fix a problem before an insurer ever sees it. Get your hand-reviewed valuation from Joel Dyck.