When it comes to saving on home insurance, many homeowners tend to stop at security systems, high-tech sensors, and insuring their homes and vehicles with the same insurer.
Of course, these are smart ways to save on insurance premiums. However, what many homeowners do not know is that most insurance companies have lesser-known discounts available that can significantly help them maximize savings without minimizing protection.
Let’s have a look at these discount rates that may be available through your insurance provider to help you save big.
If you have purchased more than one policy with your insurance company, you can save up to 15% or even more on home insurance. These policies may include homeowners, auto, boat, umbrella, including others.
So it’s always advisable to take more than one policy with the same company to save more.
The same way good drivers get handsome discounts from their auto insurance provider is the same way homeowners who have never made any claim are offered great discounts.
The reason is simple. The lack of claims basically keeps more money in your insurance provider’s pockets. In other words, you are considered as a less-risky customer, which explains the reward.
Safe Home Discount
Insurance companies appreciate homeowners who take the initiative install home safety devices such as smoke, gas, and water detectors and alarms, smart technology that alerts the homeowner of a security threat, home security systems such as alarms, burglar proof deadbolts, and 24/7 security guard, as well as interior sprinkler systems.
By installing such devices, accidents are prevented way before they happen and this eliminates the need to make a claim, which is a big advantage to the company.
Home Buyer Discount
Insurance companies provide this discount to customers who have purchased their home 12 months before the policy becomes effective.
Smoking is one of the major causes of fires, causing thousands of residential fires and hundreds of deaths every year.
Because of the risks involved, most home insurance providers generally raise their customers’ premiums if they happen to be smokers. This means that should you kick the habit, your provider may decide to lower your premium rates, helping you save more.
New House Wiring Discount
We all know how dangerous old or unprofessionally done electrical wiring can be. Actually, home electrical faults (mostly caused by faulty wiring) are known to be the major causes of residential fires which result in loss of life and property.
New wiring that is installed properly can prompt your home insurance company to lower your rates significantly.
Impact-resistant Roofing Discount
Your house roof protects you, your family, and everything else under it.
It’s subjected to all sorts of problems like heavy rains, hailstorms, hurricanes, and strong winds, which tend to cause damage once the roof gives in. When damage occurs, you will of course make a claim to your insurance provider.
This means that your roof is a major concern to your insurance company and installing an impact-resistant roofing will get you a handsome discount on your insurance premiums.
If you are a 55 or older and retired, your insurance provider will be more than happy to offer you a matured insurance discount.
Seniors tend to spend more time at home and therefore might be able to detect a home hazard before it occurs- such as a fire, gas leak, water leakage, including others.
Gated Community Discount
If you reside in a gated community, your insurer may offer you a home owners insurance discount for significantly lessening their risk.
Don’t miss the opportunity of saving some money with your home owners insurance premiums. Be sure to ask your insurance agent about all the available discounts.