Keep These Factors in Mind When Looking for a Home Insurance Discount
When you begin shopping for home insurance, or are reviewing a current policy, it may come as a surprise to you that even the smallest details about your home will factor into how much you pay. Luckily, there are many ways to qualify for a home insurance discount.It’s important to know that you may qualify for a home insurance discount based on one or more of the following factors:
The Age of Your Home
Most insurance companies will factor the age of your home into the cost of your insurance. If your home is newer, you will likely pay less for your home insurance than if you are insuring a much older home. Factors such as an updated electrical system or has a new roof can help your insurance carrier assess the safety and longevity of a home against potential losses. Discount percentages will vary depending on your insurance provider.Multi Policy Discount Options
This is fairly common with insurance companies that provide multiple types of policies. The more you insure, the higher your discount will be when you apply for home insurance. Consider insuring both your car and your home with the same insurance carrier. Many insurance companies will offer multi policy discounts when you combine your home and auto, as well as with many other types of insurance.If You Recently Purchased Your Home
First-time home buyers are often eligible to receive a discounts on their homeowners insurance, but even if your current home is not the first home you’ve purchased you may still be eligible for discounts. Ask your insurance provider or local insurance agent about this type of discount.If You Have Never Filed a Claim
If you’ve never filed a home insurance claim throughout the life of your policy and you’ve had your policy for several years, you may qualify for a discounted rate. Maintaining a history of no losses and good home maintenance will allow you to decrease how much you pay for your insurance.If You Made a Renovation
Making home improvements has a positive effect on your home and your home insurance policy. Of course, there are several qualifying factors that you may be required to meet to receive this type of discount. Check with your insurance provider to ensure that all criteria is met if you are planning to take advantage of this discount opportunity. For example, at NYCM, we offer discounts when you complete a home renovation on your roof or primary heating source. Check with your local agent to see if your most recent renovation will save you money on your policy.Other Miscellaneous Discounts
Your insurance agent or insurance carrier should be able to provide you with a comprehensive list of discounts for which you may qualify.Don’t forget, you always want to review your potential discounts up front. We offer a discount tool to determine what discounts you may qualify for under an NYCM Insurance policy. Check with your specific insurance carrier as discounts will vary based on carrier and from policy to policy.
