Home Insurance Discounts
Discover All the Ways to Save
How to Find Affordable Homeowners Insurance
When you are looking for the best homeowners insurance policy, price is an important consideration. Monthly home costs can be tough to manage when you have heat, air conditioning, electricity, and garbage collection on top of your mortgage payment. The good news is that there are a number of things you can do to get reduced prices and discounts on your home policy costs. Home insurance deals and discounts are not hard to come by as long as you know what to look for, and you have an agent working for you who knows how to find the best deals.
A local independent agent in the Trusted Choice® network can help. Member agents have relationships with multiple insurance companies and can help you find the best possible homeowners insurance policy for your needs along with all available discounts. Contact a local member agent today to ask about affordable homeowners insurance.
Homeowners Can Take Precautions to Lower Risks
- The average home burglary results in approximately $3,000 in losses
- Homes with security systems in place are three times less likely to be burglarized
- The average house fire results in approximately $30,000 in damages
- Fire sprinkler systems can reduce property loss and damage by as much as 71%
How to Get Home Insurance Discounts
There are several different ways to get lower rates on your homeowners insurance premiums. Not all discount opportunities are available with all insurance providers, so it is important to ask questions when you are getting quotes. While some discounts will be factored in automatically based on the information you provide when you apply for the policy, others may require you to take action in order to benefit from the reduction in rates.
Here are some of the most common ways to save on home insurance:
Combine multiple policies. Combining multiple insurance policies with a single insurance provider is a great way to reduce costs. You can typically save by combining your home and auto insurance as well as coverage for your boat, RV and other vehicles. By finding a single carrier to handle all your insurance needs, you can reduce the cost of your premiums on each policy.
You can also benefit from the convenience of paying for all your policies with one combined monthly payment, rather than making different payments for each policy. Many people also appreciate having a single point of contact for all their insurance-related questions or when filing claims.
If you choose to take advantage of combined-policy discounts, keep in mind that you will be depending on a single insurance company for all your coverage needs. You will therefore want to make certain the company you choose offers the best coverage options and rates to meet your needs. Working with a local agent in the Trusted Choice network can be a great way to save time when you want to compare quotes. Your agent can research insurance companies and home insurance discounts for you and provide all the information you need to make an informed decision.
Raise your deductible. As with any insurance policy, the higher your deductible, the lower your premium will be. Your deductible is the amount that you are responsible for paying out-of-pocket before your insurance coverage kicks in. This means that for smaller claims, such as the need to replace a damaged rain gutter, filing a claim probably won’t be worthwhile, but for larger claims, such as a total loss due to a house fire, your portion of financial loss will be minimal.
As an example, if your deductible had been $1000, but you can financially handle a $2000 expense in the event of a claim, raising your deductible to that amount can save you money on your homeowners policy. Keep in mind that depending on where you live, your insurance company may have separate deductibles for certain kinds of disasters. Be sure to ask about this when shopping around for the most affordable home insurance.
Reduce your risk of theft. Some areas are more prone to theft, and the location of your home will be a factor in determining your insurance rates. However, even those living in high-crime areas can qualify for better home insurance deals by taking simple crime-prevention steps.
In the majority of home break-ins, intruders gain access to the residence by forcing their way through a door. Using dead-bolts can significantly deter these kinds of break-ins as dead-bolt locks are a sturdier deterrent. For this reason, many insurance companies offer discounts to customers who have deadbolts on all exterior doors.
Additional discounts may also be available if your home is equipped with other anti-theft devices such as a burglar alarm, motion detector lights or barred windows. Be sure to inquire about available anti-theft discounts when getting a quote. You may even find that a few inexpensive security measures can save you a significant amount over the long run.
Reduce your risk of fire damage. It probably goes without saying, but house fires can result in extremely expensive property damage. For this reason, most insurance companies offer savings to customers who reduce their risk of damage and loss due to a fire.
Unattended or carelessly handled cigarettes are one of the leading causes of fires in the home, so some insurance companies reduce the cost of premiums for homes with no smokers. You can also typically qualify for a discount if your home is equipped with fire extinguishers, a fire sprinkler system and smoke alarms, and particularly if you have a fire alarm that can directly contact authorities.
Get discounts when you renew your policy. You may find that you receive an incentive from your insurance company at renewal time, in the form of a reduced renewal rate, if you have a claim free record. Taking precautions to safeguard your property can help you get more affordable home insurance over time.
Pay your home insurance bill electronically. If you set up your home insurance payment by automatic EFT, or electronic funds transfer, you may be able to save money on your premiums. Your monthly payment will be automatically deducted from your bank account on your premium due date, which reduces the amount of administrative overhead involved, and that savings can be passed on to you.
Opting for automatic payments will save you the hassle of remembering to make your premium payment and can avoid the risk of late payments and late-fees, with the side benefit that you can usually get a discount on your home insurance.
Finding Affordable Home Insurance
Insurance companies vary in the home insurance savings they offer, so it is important to compare companies, options, rates and discounts. In addition to the home insurance deals and discounts we’ve discussed, there are many more ways to save. For example, you may qualify for discounts based on certain associations or memberships. The important thing is to ask about ways you can save on your homeowners insurance when you are requesting a quote.
The best way to be certain that you are getting all the discounts available to you is to work with a Trusted Choice independent agent. These agents will help you find the most affordable home insurance by comparing several different home policies to find the right policy for your needs and budget. Contact a local agent today to learn more about affordable homeowners insurance.
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