If you are curious about how to get home insurance discounts, the good news is you do not have to look very far. Almost every insurance provider offers numerous ways for homeowners to save and minimize the costs of annual premiums. Homeowners insurance provides invaluable financial protection if the absolute worst happens to your home or there is costly damage from a covered peril. The average cost of homeowners insurance is $1,312 per year for $250,000 in dwelling coverage, which makes discounts a helpful tool for managing the costs of a robust homeowners insurance policy.
For homeowners wondering, “how can I get discounts on homeowners insurance,” most insurance experts recommend comparing discount offerings from multiple providers when getting quotes. Home insurance discounts are as varied as the premiums themselves, so comparing provider discounts is essential to savings. Insurance providers usually offer a range of discounts, including bundling, new home construction and safety equipment discounts, to name a select few.
Best home insurance discounts
The best home insurance discounts depend on your unique circumstances, but the good news is, they are often relatively easy to obtain if you are eligible. Since discounts can make a huge difference in the amount you pay for your homeowners insurance premium, it could be worth quite a bit of money to inquire about eligibility. Bankrate put together a list of some of the more common and popular discounts for homeowners.
A claims-free discount is earned when a homeowner does not file a home-related claim with any insurer, usually within a specified period, such as three or five years. Even if a homeowner moves their policy to another insurance provider, it is still possible to earn the discount. Still, a first-time homebuyer would not be immediately eligible for this discount.
Numerous potential discounts fall under the safety discount umbrella. A safety discount could apply if a homeowner has an anti-theft or security alarm system installed or takes fire protection measures, such as installing smoke alarms or a fire extinguisher.
Multi-policy or bundling discounts
Purchasing a homeowners policy and another type of insurance policy with the same insurance provider could mean significant savings on homeowners premiums. Typically, bundling your car and home insurance policies will net you the biggest savings, but the discount percentage available will vary by provider.
New home or new buyer discounts
Several insurance carriers offer a discount if a homeowner purchases a new construction home or is a first-time homeowner. The number of years a home may qualify as a new home varies from one provider to another, so even if a home is not brand new, it may still qualify, so be …….