If you’re a homeowner, you know that insurance is a necessary evil. It protects your home and belongings in the event of a disaster, but it can also be expensive. The good news is, there are ways to get discounts on your homeowner’s insurance.
By taking some simple steps, you can save yourself some money on your premium. In this blog post, we will explore some of the ways you can get discounts on your homeowner’s insurance.
From bundling policies to raising your deductible, read on to learn more about how you can save on your coverage.
The most common homeowners insurance discounts
There are a variety of discounts homeowners can receive on their insurance premiums. The most common discounts are for safety features, claims-free history, and bundling policies.
Safety features: Homes with security systems, smoke detectors, and fire extinguishers can receive up to a 20% discount on their premium.
Claims-free history: Customers who have not filed a claim in 5 years or more may be eligible for a discount of up to 35%.
Bundling policies: Customers who bundle their home and auto insurance with the same company can save up to 15% on both policies.
New home discount
If you’re buying a new home, you may be eligible for a discount on your homeowner’s insurance.
Here’s how to get the discounts:
-Ask your insurance agent if you’re eligible for a new home discount.
-Install security features in your new home, such as deadbolts and smoke detectors. This could help you qualify for a safe home discount.
-Make sure your home is well-maintained. This could help you qualify for a claims-free or continuous coverage discount.
Senior discount
As you get older, you may be eligible for a senior discount on your homeowner’s insurance.
Here’s how to get the discount:
1. Shop around. Insurance companies offer different discounts for seniors, so it pays to shop around.
2. Ask about a senior discount. When you’re getting quotes from different insurers, be sure to ask if they offer a senior discount.
3. Compare rates. Once you’ve found a few insurers that offer a senior discount, compare their rates to see which one is the most affordable.
4. Get a discount. When you’ve found the most affordable option, be sure to let your agent know that you want to take advantage of the senior discount.
Bundling discount
Homeowners insurance discounts can be hard to come by, but bundling your home and auto insurance with the same company can save you a significant amount of money.
Most insurers offer a discount of at least 5% for bundling, and some offer discounts of up to 20%. Bundling discount rates vary by insurer, so it’s important to compare rates before you buy.
Claims-free discount
If you haven’t filed any claims on your homeowner’s insurance policy, you may be eligible for a claims-free discount. This discount is typically 10% of your premium, but it can vary depending on your insurer.
To get this discount, you’ll need to provide proof of your claims-free status to your insurer. This can usually be done by providing a copy of your previous insurance declarations page or policy. If you’re switching insurers, you may need to provide a letter from your previous insurer stating that you were claims-free.
Once you have the required documentation, contact your insurer and let them know that you’d like to apply for the claims-free discount.
They’ll then review your documentation and determine if you’re eligible for the discount. If so, they’ll apply the discount to your premium and you’ll start paying less for your coverage.
Loyalty discount
Homeowners’ insurance companies often offer loyalty discounts to customers who stay with the same company for a number of years. These discounts can range from 5% to 20% and can save you a significant amount of money on your annual premium.
To qualify for a loyalty discount, you typically need to be a customer of the homeowner’s insurance company for at least three years. Some companies may require five years or more of continuous coverage.
Loyalty discounts are usually applied automatically, so you don’t need to do anything special to receive the discount.
If you’re shopping around for homeowners insurance, be sure to ask about loyalty discounts. It’s a great way to save money on your premiums, and it could be the deciding factor in which company you choose.
Impact-resistant roof discount
Impact-resistant roofs are one of the best ways to protect your home from severe weather damage. Most insurance companies offer a discount on your premium if you have an impact-resistant roof installed on your home.
The amount of the discount varies from company to company, but it is typically around 10%.
HOA discount
If you’re a member of a homeowners association (HOA), you may be eligible for a discount on your homeowner’s insurance.
HOA discounts are typically 10-15% of the cost of your policy but can vary depending on the insurer and the type of coverage you have. To get the HOA discount, you’ll need to provide your insurer with proof of membership.
Non-smoker discount
If you don’t smoke, you could be eligible for a discount on your homeowner’s insurance. Some insurers offer up to a 15% discount for non-smokers.
To get the discount, you’ll need to provide proof of your non-smoking status, such as a recent letter from your doctor or a copy of your driver’s license or other government-issued ID that shows you don’t have a smoking designation.
New customer discount
As a new customer, you may be eligible for a discount on your homeowner’s insurance. Be sure to ask your insurance agent about any available discounts when you are shopping for a policy.
Some common discounts include:
If you purchase your homeowners’ insurance through the same company that insures your car, you may be eligible for a discount.
-Loyalty discount: Some insurers offer a loyalty discount to customers who have been with the company for a certain period of time.
-Automatic payment discount: You may be able to save money by enrolling in automatic payments for your policy.
-Safety devices discount: Installing approved safety devices in your home, such as smoke detectors and deadbolt locks, could help you qualify for a discount.
How can I get a discount on homeowners insurance?
There are a few things you can do to get a discount on homeowners insurance. One is to shop around and compare rates from different companies. Another is to ask your agent about discounts that may be available, such as for installing security devices or having a good credit score.
You may also be able to get a discount if you bundle your homeowner’s insurance with other types of insurance, such as auto insurance.
Which companies offer the best home insurance discounts?
There are a few companies that offer the best discounts on homeowners insurance. Some of the top companies include Allstate, Liberty Mutual, and State Farm. These companies all have different ways to save money on your policy.
Allstate offers a variety of discounts, including a discount for having a home security system. Liberty Mutual has a discount for insuring your home and auto with them. State Farm offers a variety of discounts, including a discount for having multiple policies with them.
To get the best deal on your homeowner’s insurance, it’s important to compare quotes from multiple companies. You can do this easily by using an online quote comparison tool. This will allow you to see the rates from different insurers side-by-side so you can easily find the cheapest option.
Amica: Best for a loyalty discount
Amica is one of the most popular homeowners insurance companies, and for good reason. They offer a variety of discounts to their customers, including a loyalty discount for those who have been with the company for a while.
If you’re looking for an insurance company that will give you a loyalty discount, Amica is a great option. They have some of the best rates in the industry, and their customer service is top-notch.
If you’re looking for a company that will give you little extra savings, Amica is definitely worth considering.
