5 Commonly Overlooked Home Insurance Discounts

Written by Posted On Friday, 25 April 2014 08:05

With property insurance rates on the rise across the country, it’s important to find even those small opportunities to save where ever you can. Most people know that by bundling their home and auto policies with one carrier they can save up to 20% on their premiums. However, there are some other discounts many consumers overlook that could mean they are missing out on substantial savings.

Here are five commonly overlooked home insurance discounts that can help you reduce your insurance premiums without sacrificing coverage:


Deadbolt locks are relatively inexpensive and could help you save up to 5% on your home insurance. Most homes have at least one deadbolt, but if you want to qualify for this discount, you’ll likely have to install one on every entryway into your home. Investing in deadbolt locks is a smart, easy way to help protect your home against theft and expensive home insurance claims in addition to helping to lower your premium.

Smoke alarms

Installing fire and smoke detectors is a smart decision for any homeowner, regardless of any discount they could trigger. These relatively inexpensive devices can help warn you and your family of danger in time to get to safety and prevent extensive damage to your home. Plus, many insurance companies reward responsible homeowners for taking these smart safety precautions.

Depending on how sophisticated your particular system is, you could save anywhere from 5% to 20% on your premium. If your system comes with a sophisticated sprinkler system or directly contacts authorities in an emergency, you’ll likely qualify for bigger savings. It’s a good idea to talk to your insurer before you purchase a new system to find out which devices are recommended and exactly how much you could save.


More than 20,000 residential fires are caused by cigarettes every year. Children who live in houses with smokers also pose a higher risk for accidental fires, since they are more likely to have access to lighters or matches. In some states, many insurance companies offer savings of up to 20% to customers who do not smoke cigarettes and who do not permit any smoking products to be used in the home. If you’re a nonsmoker, make sure to ask how you could qualify for this discount when you purchase home insurance.

New home

Research shows that homes built within the past 10 years are much more likely to withstand damage caused by common perils than older homes. Homeowners who purchase newer houses are therefore less likely to file home insurance claims than those who live in older homes and can often qualify for lower premiums for this reason. Depending on where you live, you could get savings of up to 20% on your homeowners insurance if you’ve purchased a new home.


Some insurance companies consider retirees who are 55 or older to be a lower risk for fire and burglary claims since they are more likely to be home more often. If you’re part of this demographic, check to see whether this discount is offered in your state. You could save up to 20% on your home insurance premium.

Keep in mind that discounts vary by state and carrier, but there are plenty of other price breaks out there, too. You'll never know whether you qualify unless you ask.


Finding the best deals on home insurance isn’t much different from shopping for anything else. If you’ve done your research, it’s easy to learn how you could capitalize on the benefits of your home’s safety features and get a better deal on home insurance.

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