Insurance.com Guide Explains More than 25 Top Homeowners Insurance Discounts
Insurance.com has released a guide detailing over 25 homeowners insurance discounts aimed at helping policyholders save on their insurance costs. Key discounts include an average of 40% for new home construction, 26% for homes under five years, and 13% for simultaneous electrical, plumbing, and heating upgrades. Lesser-known discounts for safety features like smoke detectors and storm shutters are also highlighted. The guide emphasizes the necessity of being aware of these discounts to maximize savings without compromising coverage.
- 40% average discount for new home construction.
- 26% average discount for homes under five years old.
- 13% average discount for simultaneous upgrades in utilities.
- None.
FOSTER CITY, Calif., March 10, 2021 /PRNewswire/ -- Homeowners looking for ways to cut costs may inadvertently ignore an important source of savings -- discounts on their insurance. To help policyholders understand how much they can save, Insurance.com releases the Best Homeowners Insurance Discounts guide detailing available discount types and the companies that offer them.
Average discounts include:
- New home construction: This discount, which can on average save homeowners
40% , is for recently purchased, new construction homes. - Age of home: Dwellings five years old or newer can access a discount of about
26% . - Upgrades: Some discounts go into effect when policyholders make upgrades to their home, such as an average discount of
13% for simultaneous electrical, plumbing, and heating upgrades, as well as11% for upgrading the roof. - Construction type: The type of home construction may yield various discounts, including fire resistive (
11% ), superior (11% ), masonry (7% ), and asbestos/stucco (4% ). - Loyalty: Homeowners who remain with the same insurance company for ten years or more may receive an
8% discount, on average.
Some little-known discounts that may be overlooked include savings for having a fire extinguisher (
"Home insurance companies offer options that can save you money -- but you have to know what discounts you deserve first," explains Michelle Megna, editorial director for Insurance. "The good news is you can still save money on your bill without skimping on the coverage you need."
The Insurance website provides several home insurance calculators and tools to help homeowners, condo dwellers and renters learn about average insurance rates in their ZIP code.
Megna is available to provide information on Insurance's methodology and answer questions about steps homeowners can take to maximize their savings.
About Insurance
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Insurance is a trusted online resource dedicated to educating consumers on auto, home, health and life insurance, developing relationships directly with carriers to offer consumers comparison rates from multiple companies. Since 2001, Insurance's industry-first online tools, data-based reporting and experienced experts have helped consumers make informed insurance-related decisions, so they can choose the right insurance for their individual needs.
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SOURCE Insurance.com
