You’ve probably thought it more than once: Only suckers pay full price for anything. What that means is you like to barter and get the best possible deal on everything you buy.
So why aren’t you doing it for home insurance? That’s right; just because an insurance provider quotes you a price on premiums doesn’t mean you have to pay that price. At least it doesn’t if you know to ask about discounts.
Most home insurance providers offer discounts for a number of things – some of which you already qualify for and others that you can get with just a little effort. Here’s the thing, though: You might have to ask for these price breaks in order to get them. One thing to remember, however, is that every carrier doesn’t offer every discount, and some discounts aren’t available in some states.
Confused? Even if you are, you can get the straight scoop on discounts when you buy a policy from a site such as IRED.com, which offers potential policyholders assistance from licensed independent agents who will get the best deal for you from multiple highly rated carriers, then search for every discount that you should get.
Some typical home insurance discounts
Following are some of the discounts typically offered by home insurance carriers:
Home/auto discount: This is an easy one. You need home insurance, and you need car insurance. Most home insurance providers also sell car insurance. You can get a 20% discount when you bundle home and auto policies with the same provider.
Deadbolts: Install deadbolt locks on your exterior doors – if you don’t already have them – and you could save up to 5% on your premium.
Alarm system: You could get a 10% price break if you have a monitored alarm system in your home.
Smoke detectors/fire extinguishers: If you don’t have these, you need them. And they can save you up to 5% on your bill.
Nonsmokers: If no residents of your home smoke cigarettes or use other smoking products, you could get a 20% discount.
There are more potential price breaks as well. Make sure your carrier understands that you know about discounts and you expect to receive every one to which you are entitled. After all, you wouldn’t want anyone to think you’re a sucker.