Posted : 12/14/2012
You may be familiar with the basic discounts offered by most home insurers, including bundling home and car insurance, loyalty rewards and cost cuts for installing smoke detectors and home security systems. But there's more to consider, if you know what to ask.
Insurers routinely evaluate, and sometimes offer, new discounts for straightforward reasons -- to attract customers and to lower their own costs, says Lynne McChristian, a spokesperson for the Florida branch of the Insurance Information Institute.
Providing discounts if homeowners install smoke detectors and in-home water sprinklers is prudent because these measures mitigate fire dangers and subsequent property damage claims, McChristian says. But insurers are always evaluating the market. (See: "Alphabet soup: 6 types of homeowners insurance and what they cover.")
"Some of the homeowner discounts most people know about don't really come and go, they're pretty constant, but new ones based on research do come up and people should be aware of them," she says. "That's why we always recommend homeowners regularly review their policies and ask their insurance agent about what's available."
Here are five homeowner discounts you should ask your insurer about:
Other homeowners insurance discounts may be available if:
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