When you think about cutting insurance rates, you probably think about maintaining a good driving record to earn a break on your auto insurance. There isn’t much you can do to get a discount on your homeowner’s insurance… Or is there?
Actually, there are several ways to cut your homeowner’s insurance premiums, but most people don’t know about them. Consider these possibilities:
Protective service discount. If your home has smoke detectors, fire alarms, burglar alarms, or other protective devices, you could earn up to a 15 percent discount on your insurance. Keep in mind that the devices you choose must qualify specifically for the discount, so consult with your homeowner’s insurance agent before purchasing anything or paying for installation.
Claims-free discount. After a certain period of time, you could qualify for a discount on your insurance premiums if you have never filed a claim. The period of time, as well as the discount, will vary from one provider to another. But it could save you as much as 20 percent.
Age discount. Believe it or not, you could earn up to a 15 percent discount on your homeowner’s insurance policy simply for being over age 60.
Personal status. You could even qualify for a small (about 5 percent) discount for being married or widowed.
Age of construction. The age of your home could significantly impact your homeowner’s insurance premiums. Depending upon its age, your insurance premiums could be up to 30 percent less.
Each insurance provider computes risk in its own unique way, and ask specifically which types of discounts may be available to you.