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If you own a home, insurance is a necessity and required if you have a mortgage. But homeowners insurance might be costing you more than it should.
Thankfully, there are ways to lower your monthly homeowners insurance premiums without sacrificing essential coverage.
Many insurance companies provide incentives and discounts that can help you save money and lower your homeowners insurance costs.
10 Discounts to Lower Your Homeowners Insurance Rate
Tired of overpaying for homeowners insurance? We don’t blame you.
Small changes — like bundling your coverage and installing security features — can help save money on your homeowners insurance policy.
Here are 10 ways to score a home insurance discount and lower your monthly premium.
- Add security features to your home.
- Bundle your home and auto insurance
- Make improvements to your home
- Ask about loyalty discounts
- Get a claims-free discount
- Raise your deductible
- How you pay can help you save
- New home discount
- Homeowner-specific discounts
- Explore other homeowners insurance discounts
1. Add Security Features to Your Home
Adding certain security features and smart devices around the house can help save you 2% to 15% on your homeowners insurance. The exact discount will depend on the company, the devices you have and where you live.
Security and safety measures can include things like:
- Water leak sensors
- Smart smoke detectors
- Motion sensors
- Carbon monoxide, radon or gas leak detectors
- Burglar alert systems
- Fire alarms and fire protection systems
Some insurance companies even give you a discount for installing less high-tech safety features like deadbolts on exterior doors, fire extinguishers or even an automatic sprinkler system.
Insurance companies offer discounts if you install these gadgets or devices because they make your home safer. A safer home means less risk for the insurer.
2. Bundle Your Home and Auto Insurance
You’ve probably heard the TV commercials from insurance companies like…
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