3 House Insurance Discounts People Forget
If you own your own house or are looking to purchase your first house, there are several discounts that can used to make your insurance premiums cheaper.
There are 3 forgotten house insurance discounts that can make a big difference on the price you pay for your house insurance. This serves as a reminder to contact your insurance provider to see if you are maximizing any discounts you could be eligible for.
1) Mortgage Free Discount – Insurance Companies are driven by analytics and actuaries. The Analytics are in! People who do not have a mortgage statistically have fewer claims than people who have a mortgage. Insurance companies will reward customers who do not have a mortgage by offering a Mortgage Free Discount. This discount can save as much as 25% off of their annual insurance premium.
2) Monitored Alarm Discount – Consumer’s who purchase monthly monitoring services through companies such as ADT or AlarmForce can save big on their house insurance premiums. When you have an alarm system installed the monitoring company will provide you with a certificate of installation. This will show what services they are monitoring you for. Consumers will save big with an alarm discount on their house insurance when their alarm system is monitoring for both fire and burglary. The discount can be up to 20% depending on the insurance company.
3) Increasing your deductible – A simple house insurance discount that can be applied to your house insurance policy is to increase your deductible. A policy that has a $500 deductible could be eligible for an additional 10%-15% discount if they simply increase their deductible to $1000. It is not uncommon to have house insurance policies with $1000, $2500 or even a $5000 deductible. The higher the deductible the homeowner has the bigger the discount they get on their house insurance.
Money Saving Tip:
Maybe your house insurance policy has been with the same company for several years and hasn’t been updated. This is an opportunity to find new savings and premiums for your house insurance.
Cal us at Absolute Insurance Brokers to make sure that you are saving money and getting all the discounts you can at 1 877 941-2266.
