Home Insurance Credits That May Help Lower Your Premium

Want to save money on your homeowner insurance? Here are some things worth discussing with your insurance company that may help you save on your homeowner’s premium. With the rising cost of living, every little bit helps!

Location and Affiliations:

  • Gated community – If you live in a gated community, talk to your agent about getting some money back for lessening their risk. Gated communities are less attractive to a thief because there is a bit more security.
  • Homeowners associationYou don’t necessarily have to be a member of the homeowners association to take advantage of this discount; your home is simply considered less risky because of the involvement of your neighbors in keeping your community safe from thieves and vandals.

Renovations and Upgrades:

  • Renovations – New home renovations equals fewer safety risks. For example, security cameras or high tech sensors and alarms will help lessen your insurance premium.
  • New wiring in your home – You may qualify for new wiring credit. If done properly, new wiring is safer and less likely to cause outages or fires.
  • Impact resistant roofing This upgrade may get you rate discounts but also give you a tax deduction. Roofing is a major concern for insurance carriers because if a roof is compromised, the cost for claims can be quite substantial.

Miscellaneous Factors:

  • No claims in your history – Your absence of claims keeps money in the insurers’ pockets so, speak to your agent about a discounted home insurance premium.
  • Nonsmoker credit – If there’s a smoker in the house, your rates will be higher. Generally, where there is smoke, there is fire.
  • Mature insured – Age has its privileges.  Insurance companies love retired homeowners because they tend to spend more time at home and can detect a home hazard, etc. If you are 55 or older and your home is your permanent residence, talk to your agent about getting a mature insured credit.
  • Rating models change regularly – This year could cost less. Be sure to re-shop your insurance every few years to see if you can save.

If you’re seeking homeowner insurance, please feel free to contact us to get you started with a free quote!

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