If you are looking to save money on your home insurance, you should look for any possible discounts. You can do this by shopping around for the best rate, then asking about any possible savings.
There are many different home insurance discounts, so it's important to know the ones that are available in your state and what they entail. There are many different home insurance discounts, some of which can be difficult to get. Do your research first before committing.
Some discounts that are available vary by insurer, but they can all be quite helpful in lowering your homeowners insurance costs. Here are a few of the more common discounts.
1. Bundling your auto and home insurance together
Bundling home and car insurance is a good way to reduce your costs. Bundled policies are often discounted by most insurance companies. Bundling your home and auto insurance with the exact same company could result in a 20% discount on your premium.
2. Payment of your insurance policy in advance instead of monthly
Most carriers offer a discount for paying in full. You must pay for your entire policy in advance to qualify. This can save you between 5% and a 10% average. But it's best to double-check with your provider to be sure.
3. Maintaining a clean history
Insurance companies reward loyal customers with discounts. The insurance companies will offer you a lower rate for your home policy if they know that you won't make any claims in a given number of years.
4. Installing smart home technology and safety devices
Some insurance companies offer discounts to customers who make improvements to their home that will prevent damage. They may even offer a discount for installing security systems or fire sprinklers. Some insurance companies will also give you a discount for choosing a programmable thermometer or smoke detector.
5. Making improvements to your home
A lot of the upgrades that you can do to your home, such as adding storm shutters, impact-resistant roofing or updating electrical, plumbing and heating systems, can help to lower your home insurance premium. Let your insurance company know if you choose to make these changes so they can factor them into your quote.
6. Discounts for first-time homeowners or those who have just built a home
Here are some easy ways to get a discount on homeowners insurance. Most home insurance providers offer a discount for first-time buyers or people who purchase a brand new house. The frequency of this discount varies from company to company. However, it is usually available between one and ten years.
7. The purchase of a brand new home
Many people do not realize that purchasing a new home can earn you a discount on your homeowners insurance. It's especially important if you switch from a rented home to a homeowners' insurance policy.