Homeowner’s Insurance Discounts

Homeowers discount to be sure are on your policy

Every homeowners insurance policy is priced based on a starting rate, then discounted, or charged, for various factors that the insurance company feels minimizes or increases the risk of a loss.  If too many factors, or a single factor such as ownership of certain kinds of dogs or proximity to coastline exist, some companies will simply decline coverage.

The biggeest discounts you should have (when they apply) are:

New home discount.  These are either buried in the base rates or have specific credit.  Newer homes don’t have electrical fires, water damage, or other problems that older homes have. 

Good credit / insurance score.  An insurance score is based in part on your credit.  The idea is that  people who take care of their finances carefully generally take good care of their homes as well. 

Clear claims history.  No prior claims is always a good barometer, so even though none of us can predict our own claims, insurance companies view your claims history carefully.  Frequency and severity are two metrics, and frequency carrie smuch more wieght than severity.  Thus three small losses in four years presents a more risky profile to an underwriter than a single fire or other large claim. 

At home resident.  If someone is typicallly at home during the day, some companies offer credits.  This is also listed as a retirees credit. 

Alarm credits – a burglar or fire alarm is a long time credit.  Even better if contacted to a central  monitoring station. 

Charges: some insurance companies add a surcharge for dogs, swimming pools, and other specific conditions.  

At Gordon  Insurance, we view your overall profile as and work hard to find the best fit for coverages you need with the best available pricing.  Always feel free to contact us for more on Home insurance, auto insurance, life insurance or other personal insurance needs.

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