Homeowners insurance can be quite expensive. However, fortunately there are a number of discounts that are available that can help to cut your premium cost. In fact, when you qualify for several different discounts, you can possibly reduce your home insurance premium cost by nearly a third. The following are 6 of the best home insurance discounts to help you save money.
1. Bundled policies discount
When you purchase your auto, home and other insurance from the same company you can qualify for a bundled policies discount. Typically, savings are around 20 percent, however you could save up to 30 percent, with total savings adding up to $500 or even more per year.
2. Special materials or new roof discount
An insurance discount can help to pay for an expensive roof. Some insurance companies offer a discount when you are use certain types of impact-resistant materials, which tend to be certain kinds of asphalt shingles for protecting against hail damage. The discount can save around 15 percent.
3. Security system discount
You can get around a 15 percent discount on your premium if you use a service that monitors your house 24/7 for burglary and fire. You might also get a discount for sprinklers or smoke alarms.
4. Discount for increasing your deductible
You can save around 16 percent on your deductible ranging from $500 up to $2,000, or up to 25 percent if you can increase your deductible up to $2,500.
5. Claim-free discount
Some insurance companies offer discounts to policy hold who haven’t filed any claims. The discount can go as high as 20 percent.
6. Auto pay discount
Having your premium payments automatically deducted from your bank account might bet a small discount of around 5 percent.
These types of homeowners insurance discounts can really add up and save you a substantial amount of money. Make sure to speak with your insurance agent to see which discounts you may qualify for.