5 Ways to Get Discounted Homeowners Insurance

Discounted homeowners insurance is definitely something that you should look into if you want to save money on your policy. By taking some simple steps, you can lower your premiums significantly. There are a number of different insurers out there, and each one has their own rates and discounts. By shopping around, you can make sure that you are getting the best deal possible. Read on for more tips on how to get the best rate on your homeowners insurance.

1. Shop around and compare rates

The best way to get a discount on your homeowners insurance is to shop around and compare rates from different companies. There are many websites that allow you to do this easily and quickly. Once you have found a few companies that offer the coverage you need at a price you can afford, contact each company and ask about additional discounts that may be available. Some will have discounts for seniors, discounts for people that belong to a certain profession, and more.

2. Bundle your home and auto insurance

Many insurance companies offer discounts if you bundle your home and auto insurance with them. This is because they know that you are less likely to shop around if you have both policies with the same company. Contact your current insurers and ask about discounts for bundling your policies. Then compare those rates with the rates of other companies to make sure you are getting the best deal possible.

3. Make your home safer

Another way to get a discount on your homeowners insurance is to make sure that your home is as safe as possible. You can try installing a home security system. This will not only give you peace of mind knowing that your home is protected, but it may also give you a discount on your premium. Other things you can do is install smoke detectors, burglar alarms, and other security devices. Insurance companies will often give discounts to homeowners who have taken these precautions.

4. Increase your deductible

An additional way to get discounted homeowners insurance is to raise your deductible. This is the amount of money that you would have to pay out of pocket before your insurance would kick in. By raising your deductible, you are essentially telling the insurance company that you are willing to take on more risk. In return, they will often offer lower premiums. This is something to consider carefully before making a decision, as there is no one-size-fits-all answer when it comes to choosing a deductible amount

5. Be claims-free for a certain period of time

Most insurance companies offer a discount for not filing claims for a certain period of time, usually five years or more. If you have been with the same company for several years and have never made a claim, be sure to ask about this discount when you renew your policy. You could save quite a bit of money over the long run if you qualify for this discount.

Everyone wants to save money, and there are many ways to get discounted homeowners insurance. The best way to get a lower price is by shopping around and comparing rates from different companies. You can also get discounts by bundling your home and auto insurance, having a home security system, or being claims-free for a certain period of time. Be sure to check with several different companies to find out how much of a discount you can get on your coverage before you make a decision.

This article was written by David Chang from The Motley Fool and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to [email protected].