A typical homeowner has enough to think about – how to arrange furniture in the sitting room, what color of paint to put on the walls, what sort of fixtures to add on the walkway if the kitchen needs remodeling…and then, obviously, there is the question of home insurance. If you are a homeowner going through the often tricky process of purchasing home insurance, you may be holding a breath and preparing for yourself for the impending cost. In this article, we will show you 10 discounts for homeowners.
One thing you probably didn’t know is you can save a lot of money on home insurance. There are those things we call discounts that can slash the overall price of your homeowner’s insurance to an affordable level. In this post, we are going to list as many as 10 home insurance discounts you should not forget to ask your agent about.
Be aware though, different insurance companies offer different discounts depending on an array of real estate factors. For this reason, you need to confirm that your specific home insurance company offers one or several of the following discounts. Also, check if you qualify for them and how much you stand to save on each discount.
Insurance firms take loyalty seriously. This means you stand to benefit from an insurance company’s loyalty discount if you stay with one company long enough. It is worth checking on.
Bundling or multi-policy discount
Did you insure your home and car from the same insurance company? You could be eligible for a multi-policy discount. Insurance firms love it when you buy several products from them. Most of them will be more than glad to reward you for this gesture by offering a discount. Besides saving some money, this maneuver could be good for your sanity because you don’t have to deal with multiple companies. Therefore, consider bundling your insurance needs and buying the policies from one company. However, you need to find out which option is cheaper with your particular insurance company – separate coverage or bundling?
Insurance companies adore low maintenance clients. If you go for considerable periods without filing any home insurance claim, your insurance company might return the favor by lowering your rates. So if you’ve gone for many years without asking anything from your insurance company, this could be the right moment to inquire with them to see if you’re eligible for this sort of discount.
Have a burglar system in place
You might be surprised to hear that insurance companies offer low prices to homeowners with a functional or monitored security system in place. Burglar systems deter potential thieves and burglars from ravaging your home. This means you are less likely to be a victim of break-ins. Plus, police will respond faster to incidences if you have the system in place compared to if you didn’t – insurance companies love to hear that.
Have a fire alarm system
The shorter time it takes the fire department to respond to fires on your property, the less the damage your home will sustain. That means you’re less likely to file for fire claims and if you do, the payment could be lower. Insurance companies tend to factor it and offer discounts to clients with fire alarm systems in their homes.
Adding impact-resistant roof
Some insurance companies would consider minor things like the condition of your roof. They know replacing a roof can be incredibly expensive. If your roof is impact-resistant enough and is not vulnerable to, say hailstorm, your insurance company many consider it and offer you a discount. As aforementioned, insurance companies are different and you might not really know if they offer this sort of discount or not unless you inquire with them. So don’t spend huge sums of money revamping your roof only for your plan to backfire – ask first.
Mature homeowners discount
Some insurance companies would put into consideration the fact that you are a retired senior. If you are retired, they know you will be at home most of the time. That means you always have an eye on your property. That way, your insurance company knows your home is less likely to be burglarized or destroyed by fire.
In a nutshell
There is a myriad of discount plans you could get from your insurance company. Some companies will even factor in whether you’re married or not. It is important to inquire with your insurance company to see what you qualify for. Again, different insurance companies offer different discount plans.