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Home insurance deals and discounts
If you're paying full price for your coverage, it might be time for a change.
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You need homeowners insurance to protect your investment against the unexpected. But you might not need to pay full price.
What types of discounts can I get on home insurance?
Before choosing an insurer, check if you’re eligible for a:
- Multi-policy discount. Taking out multiple policies with the same insurer, like homeowners insurance and car insurance, can help you save.
- Online discount. Buying your policy online and going paperless with e-mail or online bills can net you a discount with some insurers.
- Loyalty discount. Whether it’s increased discounts at each policy renewal or straightforward reduced prices after a certain amount of time, you can save more money by sticking with the right insurer.
- Security system discount. Installing a monitored home security system can help you save on your premiums.
- No-claims discount. As with other types of insurance, you can receive a discount if you haven’t made a claim for a certain amount of time.
- Gated community discount. If you live in a gated community or a community with active security, the lower crime risk can translate to lower premiums.
- Non-smoker discount. Not smoking reduces your risk of lung disease — and house fires.
- Impact-resistant roofing discount. Installing an impact-resistant roof can help you save with most home insurers.
- Safety sensors discount. You can get discounts for installing advanced smoke, water and gas sensors.
- Mature homeowner discount. If you’re retired or over 55, you might be eligible for an extra discount.
- Upfront payment discount. You may be able to score an extra discount by paying for a full year of insurance at once instead of paying monthly.
Compare homeowners insurance policies with discounts
How else can I save on coverage?
Discounts aren’t the only way to get a deal on your homeowners insurance. To save even more:
- Choose a higher deductible. Many insurers will let you choose lower premiums for a higher deductible.
- Avoid unnecessary claims. If a repair will cost less than your deductible, or even slightly more, you may be better off paying out of pocket and not filing a claim.
- Weatherproof your home. Reduce your chances of needing to make a claim by making sure your home has suitable weatherproofing for your area and by fixing small maintenance problems before they become big ones.
- Update your home. Modifications or renovations that make your home safer, like new electrical wiring or sprinkler systems, can help you save on your insurance.
- Choose the right sum insured. Your total sum insured is the amount you could claim if you lost everything. If it’s too low you’re underinsured, and if it’s too high you’re paying too much. Have your home appraised before choosing an insurance policy to make sure you’re getting the perfect amount of coverage.
- Look into group coverage. Professional alumni, business groups and other associations may offer home insurance coverage at a reduced price, just be sure it includes all of the coverage you need.
Bottom line
Many homeowners are eligible for multiple discounts to help cut down on the cost of homeowners insurance. If you’re ready to find a policy that fits your needs and budget, compare homeowners insurance companies to find the right one.
Frequently asked questions about home insurance discounts
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