What are the home insurance discounts I can get?

It is important to be aware of all the discounts that a home insurance provider offers before signing the insurance contract. Home insurance discounts can shave off a considerable amount of your premiums so you need to be aware and take advantage of these provisions if you want to save money on Homeowners insurance.

Common Home Insurance Discounts Offered by Insurers

Here are some of the more common insurance discounts you can get:

Multiple policy discount

Before starting to shop around for a home insurance policy, check to see if your auto insurance provider offers this type of insurance. Most companies offer a 15-percent discount to individuals who have purchased two or more policies from the same insurer. This doesn't necessarily mean that you should always buy a Homeowners policy from your car insurance provider - shop around before making a final decision!

Senior citizen discount

If you are retired or over 55 years of age, you may be eligible for an age-based discount. Be sure to check if the company which you consider buying home insurance from, offers this discount.

Long-term customer discount

Persistency means a lot to home insurance providers, the majority of which are likely to give you a discount for staying with them for longer periods of time. So if you have already purchased a home insurance policy with a company and you are happy with it, you should hold the policy for a number of years to take advantage of this discount.

No-claims discount

Insurance companies offer discounts to home owners who have not filed any claims during the policy term. The longer you keep the home insurance policy without having a claim, the more likely it is for you to get a premium reduction. A considerable claims-free discount can accumulate over several policy terms.

Security system discount

Having a security system installed in your home significantly reduces the risk of your personal property suffering losses due to vandalism or burglary. Insurers usually provide a discount for any home owner who has secured their premises but you will usually be expected to furnish proof that you have taken these precaution measures.

• How to save on home insurance?
• How can I establish the right Homeowners coverage limits?
• I plan to do a title search. How do I look at property records online?
• Can anybody do a land title search? What information do I need to have?
• How do I handle a hurricane damage insurance claim?