How to get a discount homeowners insurance?
Answer:You can get a discount homeowners insurance mostly by paying a larger deductible. Deductible is the sum you have to pay in case of insurance event before the insurance company takes further. For example, you may have a $250 deductible which is not enough to get homeowners insurance premium discount. Raising the deductible will get you discount of as much as 30% if you agree on $5000 deductible. A separate deductible sometimes is required of 1 to 2 percent in disaster prone areas - for example, hurricane deductible in Florida.
Also, you can get a discount homeowners insurance if you are able to prove your home is better disaster resistant than an average home. If you replace the roof, improve plumbing and heating, and the electrical systems, and buy and install video surveillance reporting facilities, alarm and smoke detectors, you may negotiate additional discount on the homeowners insurance. However, these systems may be quite expensive and you should consult with the insurer what type of equipment they recommend and how much discount you may get.
And, you may be eligible for other homeowners insurance discounts, such as group discount or discounts for retired people, if you are over 55.
Final piece of advice: Monitor your credit report and score regularly, to ensure there are no inaccuracies or unauthorized activity. Your credit report and score are the two major methods that creditors and lenders use to make a credit decision about you. Higher scores usually mean lower interest rates, which will save you money.
See All 3 National Credit Scores & 3 Reports Instantly, Online & Free!
| Not at all | Definitely |
Mortgage QnA is not a common forum. We have special rules:
- Post no questions here. To ask a question, click the Ask a Question link
- We will not publish answers that include any form of advertising
- Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
Common misspellings: mortage and morgage