If you are looking to save money on your home insurance, you should look for any possible discounts. It is best to compare prices and ask about possible discounts.
There are a variety of discounts for homeowners insurance. To find out which ones apply in your state it is best to do some research. Some are very common and some can be hard to get, so it's best to do your research before committing to any one.
There are many discounts available, and they vary from insurer to insurer. However, all of them can be very helpful in lowering the cost of your homeowners insurance. Here are a few of the more common discounts.
1. Bundling auto and homeowners insurance together
This is an excellent way to save both on home and auto insurance. Bundled policies are often discounted by most insurance companies. If you bundle home and auto policies with the one company, you can save up to 20 percent on your premium.
2. Paying upfront for your policy instead of monthly
One of the most common discounts offered by carriers is the paid-in full discount. To be eligible for a discount, you have to pay in full your insurance policy at the beginning of the year. This can help you save 5% to a maximum of 10%.
3. How to maintain a history free of claims
Insurance companies reward loyal customers with discounts. This means that they'll reduce your home insurance rate if you remain claim-free for a set number of years.
4. Installing smart home devices and safety devices
Some companies reward customers who upgrade their homes in a way that reduces the risk of damage. Even installing fire sprinklers and security systems can result in a discount. Some insurance companies offer discounts if you choose a programmable temperature or smoke detector.
5. Making improvements to your home
Many of the improvements you can make to your house, like adding impact-resistant roofs or storm shutters, as well as updating your electrical, plumbing, and heating systems can lower your premium. Be sure to inform your insurer of any changes you make so they may take them into consideration when calculating your premium.
6. First-time or newly constructed homeowners discounts
These are a couple of easy ways that you can score a homeowners discount. Most home insurance companies give a discount to first time buyers or those who buy a brand new home. This discount is available from one to ten years, depending on the company.
7. Purchasing a new home
People don't know that buying a house can help them get a better home insurance rate. This is especially the case if switching from renting a home to buying a homeowners policy.