Homeowners insurance is an essential part of protecting your investment, but it can be expensive. Thankfully, there are several ways to save money on your homeowner’s insurance. One way is to take advantage of discounts.
Many homeowners insurance companies offer discounts for a range of qualifications, from safety features to long-term customers. In this article, we’ll look at 10 homeowners insurance discounts you can take advantage of to save money.
From discounts for installing a home security system to discounts for those who have a claim-free record, there are plenty of ways to save on your homeowner’s insurance.
By taking advantage of these discounts, you can potentially save hundreds of dollars each year on your homeowner’s insurance premiums.
So don’t miss out on these savings; read on to learn more about the 10 homeowners insurance discounts you can take advantage of to save money.
Discounts for Installing Home Security Systems
One of the most common homeowners insurance discounts is for installing a home security system. This discount is typically 15% but can go as low as 10% and as high as 25%.
Homeowners who install a home security system will typically receive a discount on their homeowner’s insurance premiums. However, there are a few things to keep in mind before calling your insurance company to ask for this discount.
First, you’ll need to buy a professionally monitored home security system to qualify for this discount. Second, you’ll need to maintain your security system to keep the discount.
If your system breaks or isn’t maintained, your insurance company may take away the discount. In some cases, you may need to get a permit for your security system to qualify for this discount.
Discounts for Roofing Materials
Another common homeowners insurance discount is for the type of roofing material used on your home. While this discount can vary based on the insurance company you choose to work with, most insurance companies will give you a 10% discount for having a roof made of fiberglass shingle or a 25% discount for having a metal roof.
If you’re looking for a discount for your roofing material, be sure to call your insurance company to ask about it. Some insurance companies may require you to have a specific type of roofing material to receive the discount.
Another thing to keep in mind is that this discount typically only applies to the portion of your homeowner’s insurance that covers the structure of your home.
So if you have a 25% discount and your homeowners insurance costs $1,000 per year, the roofing material discount would only save you $250 per year.
Discounts for Non-Smokers
Another common homeowners insurance discount is for not smoking. Insurance companies typically give a 5% discount to those who don’t smoke. If you don’t smoke and are looking for a way to save money on your homeowner’s insurance, this discount is for you.
Some insurance companies may require you to sign a no-smoking pledge to receive this discount. Other insurance companies may automatically offer this discount to all non-smokers.
If you’re a non-smoker hoping to save money on your homeowner’s insurance, be sure to call your insurance company to determine if they offer this discount.
If they do, it’s wise to take advantage of the discount and sign the no-smoking pledge, even if you’re not currently planning to quit smoking. You can always sign the pledge and then decide to quit smoking later on.
Discounts for Multi-Policy Holders
Another common homeowners insurance discount is for those who hold multiple policies with the same insurance company. Depending on the insurance company, this discount can range from 5% to 25%.
This discount can be applied to most homeowners insurance policies, including property insurance, dwelling insurance, and liability insurance. If you hold a few different policies with the same insurance company, be sure to ask if you qualify for a multi-policy discount.
This discount is ideal for people who have more than one home or business property. If you own rental properties, you may want to consider purchasing a homeowners insurance policy for each rental property. This can help you qualify for a multi-policy discount and save money on your homeowner’s insurance.
Discounts for Claim-Free Customers
Another common homeowners insurance discount is for customers with a claim-free record. This discount can range anywhere from 5% to 15%, but most insurance companies will give a 10% discount to customers who have a claim-free record.
This means that you’ve owned your home for at least 2 years and haven’t filed any claims. If you’ve owned your home for a few years and haven’t filed any claims, be sure to ask your insurance company if they offer a claim-free discount.
This discount is ideal for homeowners who don’t plan on filing any claims. If you’ve owned your home for a few years and haven’t filed any claims, this is a great way to save money on your homeowner’s insurance.
Discounts for New Homeowners
Another common homeowners insurance discount is for new homeowners. Typically, insurance companies will give a 5% discount to new homeowners, but the amount of the discount can vary based on the insurance company.
If you’re a new homeowner and looking for a way to save money on your homeowner’s insurance, be sure to ask your insurance company if they offer a new homeowner’s discount.
This is typically only available to homeowners who’ve owned their home for less than 5 years. If you’ve owned your home for less than 5 years and aren’t sure if you qualify for the new homeowner’s discount, be sure to call your insurance company to ask.
Discounts for Gated Communities
Another common homeowners insurance discount is for those who live in gated communities. Typically, homeowners who live in a gated community will receive a 10% discount on their homeowner’s insurance. If your neighborhood is gated, be sure to tell your insurance company.
They may offer you a 10% discount on your homeowner’s insurance. This discount can vary based on the insurance company, so be sure to call your insurance company to ask if they offer the gated community discount.
Discount is a ideal for homeowners who want a discount on their homeowner’s insurance and also want additional security. If your neighborhood is gated, your homeowner’s insurance company may give you a discount for it.
Discounts for Home Automation Systems
Another common homeowners insurance discount is for homeowners who have home automation systems. Typically, homeowners who have home automation systems will receive a 5% discount on their homeowner’s insurance premiums.
If you have a home automation system, be sure to tell your insurance company. You may qualify for this discount and save money on your homeowner’s insurance premiums.
This is an ideal homeowners insurance discount for people who want to save money and have a high-tech house. If you have a high-tech house, be sure to tell your insurance company so you can qualify for this discount.
Discounts for Fire-Resistant Features
Another common homeowners insurance discount is for fire-resistant features. This is typically a 10% or 20% discount and applies to certain features of the home.
If you have fire-resistant features in your home, be sure to tell your insurance company. Depending on the type of fire-resistant features you have, you may qualify for a 10% or 20% discount on your homeowner’s insurance.
Fire resistant feature discount is good for homeowners who want to save money on their homeowner’s insurance and have fire-resistant features in their homes.
Conclusion
Homeowners insurance is an essential part of protecting your investment. However, it can be expensive, which is why it’s important to take advantage of homeowners insurance discounts.
There are many homeowners insurance discounts available, ranging from discounts for installing a home security system to discounts for those who have a claim-free record.
By taking advantage of these discounts, you can potentially save hundreds of dollars each year on your homeowners insurance premiums.
