5 Home Insurance Discounts Worth Taking Advantage Of

No homeowner enjoys having to pay for home insurance, but it's definitely a good thing to have in the event of a disaster or loss. Still, if you feel like you're paying too much for your existing homeowners insurance policy, you may be right. By taking the time to explore potential discounts and credits, you could reduce your monthly premium significantly.

Multi-Policy Discount

If you currently have separate insurance companies for your home, car, RV, boat, or other vehicle, then it's time to consider bundling all of your policies under the same insurance company. Often times, insurance companies that offer multiple types of insurance will provide substantial discounts to policy holders who hold multiple different types of insurance with them.

Renewal/Loyalty Discount

Do you find yourself shopping around for a new homeowner's insurance policy every six months? If so, and if you're often switching companies, then you're probably missing out on the loyalty and renewal discounts that many insurance companies offer. 

Gated-Community Discount

Do you live in a gated community? If so, make sure your home insurance company is aware of this! Gated communities are typically seen by home insurance companies as being lower risk than non-gated communities, which often equates to lower insurance rates.

Impact-Resistant Roofing Discount

If you're thinking about having a new roof installed on your home in the near future, be sure to explore impact-resistant roofing options. Metal roofing is a great example of a type of impact-resistant roof. Many home insurance companies offer discounts to homeowners with these types of roofs because roof damage claims are one of the largest expenses for insurance companies. Keep in mind that an impact-resistant roof will cost a bit more up-front to install, but will offer you a great deal of savings (not to mention, added peace of mind) over time.

HOA Membership Discount

Finally, if you belong to a homeowners association in your community, be sure to let your home insurance company know about this as well. Often times, home insurance companies offer discounts to policy holders whose homes are part of a neighborhood association. The savings are usually just a small percentage, but every little bit of savings helps.

By keeping these potential discounts and savings in mind when it comes to your home insurance, you may be able to reduce your monthly premium pretty significantly without having to change or reduce your coverage in the process.