6 Ways to Save Big on Home Insurance
Do you like home insurance discounts?!
Of course, you do! Here are six home insurance discounts that can save you up to 10-20% on your home insurance policy.
Good Credit Discount
The largest home insurance discount one can get is a good credit discount.
Not to entirely disregard your insurance history (there’s more on that later…) but insurers want to have customers who have a track record of always paying their bills. Having a good credit score shows that you consistently pay the bills you’re responsible for.
Qualifying for a good credit discount can save you up to 20% on your home insurance policy.
If you don’t qualify for a good credit discount and are looking for ways to improve your credit, here are five ways to improve your credit score.
Your home is, likely, your largest financial investment.
Not having a mortgage on your house shows a dedication to being financially responsible. Along the lines of a good credit discount, offering a mortgage-free discount is a way for insurers to attract customers with a history of paying off what they owe.
A mortgage-free discount can save you up to 15% on your home insurance policy.
Just like with your car insurance, the longer you can go without a claim, the more comfortable insurance companies feel taking on your business.
It Is important to note that claims history pertains to your personal home insurance history, not the house you’re in.
A few insurance companies will offer a claims-free discount after three consecutive years of no claims. The majority, however, will offer the claims-free discount after 5+ years.
A claims-free discount can save you up to 15% on your home insurance policy.
Securing your home with an alarm system means your home is better protected from threats.
Aside from being harder for intruders to enter your home and cause damage, the technology involved in security systems these days is remarkable. You can get notifications sent to your smartphone regarding possible smoke in your home, control lights, temperature, lock/unlock doors and open/close your garage.
It is no wonder insurers look fondly on homes secured with an alarm. An alarm discount can save you up to 10% on your home insurance policy.
Water Mitigation Discount
If you’re in a newer home, where a backflow valve or sump pump is mandatory, this discount is already factored into your premiums.
If you’re in an older home, adding a backflow valve or sump pump is one way to lower your home insurance expenses.
According to Intact Insurance, one of Surex’s partner insurance companies, water damage is the leading cause for home insurance claims. Protecting your home from unwanted water entering it is an easy way to save yourself a potential claim and lower your insurance premiums, at the same time.
A water mitigation discount can save you up to 10% on your home insurance policy.
Mature Citizen Discount
Unlike the local diner, the age for a mature citizen discount is a lot lower than you might expect.
Not to make you feel old, but some insurers will offer a mature citizen discount to people as young as 45. Again, it boils down to how comfortable insurers feel insuring a certain demographic. In this case, many are confident insuring individuals 45 years of age and older.
A mature citizen discount can save you up to 10% on your home insurance policy.