Sometimes shopping for Texas homeowners insurance can be as tedious and daunting as searching for suitable and cheap auto insurance. And, knowing what to look for in the way of discounts is vital if you want to save money. However, keep in mind that homeowners insurance discounts can vary from insurer to insurer as well as from policyholder to policyholder even when purchasing from the same insurer. That said, below are some of the more common discounts you might qualify for:
1. Your Home’s Location – Obviously, where your home is located is important, but not for the reason you might think. The purpose of home insurance is to cover it from costly events, such as fires and burglaries. In which case, if your home is located near a fire station or a police station – statistically speaking, of course – you’re considered at lower risk of being the victim of a burglary or having your house completely destroyed by fire. As a result of your house being a lower risk for your insurer, it could qualify you for a lower premium. Whenever you shop for homeowners insurance…and your home happens to be in close proximity to a police or fire station, bring it up to your insurer. It could ease his fears and earn you a nice discount.
2. Safety devices inside and outside your home – Fitting your home with smoke detectors, security alarms, and exterior video surveillance cameras may also qualify you for a discount, depending on the insurer. This can be especially true if the security system automatically alerts police after detecting a break-in or the fire department if smoke or fire is present. Again, advise your insurance company of these security devices.
3. Your homeowner profile – A lot goes into your homeowners insurance profile with different factors, such as your age, background, and lifestyle, among a number of other facts, being used as considerations. In addition, if you’re a retired citizen or work from home and spend most of your time there, you significantly reduce the risk of a burglary, which might qualify you for a reduced rate on your premium.
4. Loyalty to your current insurer – The fact you’ve been with your insurer for a number of years can work for you as well. Not all, but many insurance companies regard your loyalty as an asset, especially if you’ve had zero or very few serious claims over the years. By virtue of you costing your insurer no money during your tenure with him, you could be in line for a discount.
5. Bundling your policies – By bundling all of your insurance policies with the same insurer, such as homeowners insurance or renters insurance combined with your auto, boat, and life insurance, can typically result in savings on all of your policies. Most insurance companies will encourage this themselves, not only to garner more business, but because it makes a lot of sense for the policyholder to do so. And, who doesn’t want to save money?
Don’t neglect discounts you might be entitled to or simply miss out on them due to not speaking up. Share as much as you can with your current insurer or when you’re online shopping for affordable homeowners insurance.
Make sure you’re getting the best rate on your homeowners insurance. Why not get a free homeowners insurance quote today?
Are you currently taking advantage of any of the above listed homeowners insurance discounts? Feel free to share your thoughts in the comments section below.