Most Homeowners Pay More Than They Need To
Home insurance companies offer numerous discounts — but they don’t always advertise them or automatically apply them to your policy. If you haven’t asked about discounts recently, you could be paying $200 to $800 more per year than necessary.
Here are seven discounts to ask about at your next renewal.
1. New Roof Discount
If you’ve replaced your roof in the last 10-15 years, many insurers offer a discount because newer roofs are less likely to result in claims. The discount varies but can be 5-20% off your premium. If you replaced your roof and didn’t notify your insurer, call them.
2. Security and Alarm System Discount
A monitored burglar alarm can save you 5-15% on your premium. Some companies also offer smaller discounts for smoke detectors, deadbolt locks, and fire extinguishers. Smart home security systems (Ring, SimpliSafe, etc.) may also qualify.
3. Retiree/Work-From-Home Discount
If you’re retired or work from home, you’re in the house more often — which reduces the risk of burglary and allows you to catch problems (like a water leak) faster. Some insurers offer a 5-10% discount for homes that are occupied during the day.
4. Loyalty Discount
If you’ve been with the same insurer for several years, you may be eligible for a loyalty discount. Ironically, many loyal customers pay MORE because they don’t shop around. Ask your insurer what loyalty discount you’re currently receiving — and get a competing quote to make sure it’s actually a good deal.
5. Bundle Discount (Auto + Home)
Bundling your home and auto insurance with the same company typically saves 10-25% on one or both policies. This is one of the largest available discounts and one of the easiest to get.
6. Claims-Free Discount
If you haven’t filed a claim in 3-5+ years, many companies offer a claims-free discount. Some also offer “claim forgiveness” that prevents your rate from increasing after your first claim.
7. Wind/Storm Mitigation Discount
If you live in a hurricane or severe storm area and have made wind-resistant improvements (impact-rated windows, reinforced roof, hurricane shutters), you may qualify for significant discounts — sometimes 20-40% in coastal states like Florida.
How to Get These Discounts
Call your insurance company and specifically ask: “What discounts am I currently receiving, and what additional discounts am I eligible for?” Then get at least one competing quote to verify you’re getting a fair price. Many people save hundreds just by making a single phone call.
Sources: National Association of Insurance Commissioners (NAIC); Insurance Information Institute (iii.org); individual insurer discount programs. This article is for informational purposes only.
