Why Weren't Homeowners Told These 16 Discounts?

This is the trick your insurance company doesn't want you to know. Homeowners often treat insurance for cars and homes the same, but that's a common mistake. The way discounts and claims work make a significant difference. We dive into why bundling policies can cost you more, the discounts that can save you money, and why comparing insurance companies can help find you a great deal.

Without the right home insurance coverage, it can leave your family unprotected and lead to major financial hardships. That’s why you need to find home insurance that meets these criteria. It must be the lowest rate that provides vital home and family coverage. It should cover accidental damage, and protect against fire, flood, storms, and burglary.

After much research and feedback, we've posted the following list of discounts that may very well help you find a winning insurance company. Without this guide, many of these discounts are difficult to find online, but please contact us if we've missed any discounts or if they've changed. Find our top 16 below (and how to save the most with them on the bottom of this page).

There are discounts for newer homes. If your home is a new construction and recently purchased, the average discount is 40%. Also, if your home is less than 5, 10, 15, or 20 years old – you qualify for a discount with the right insurer.

Even certain upgrades result in double digit average discounts. Some of those upgrades are roof, plumbing, electrical, or heating.

You may qualify for a discount if you have a security system or burglar alarm. A burglar alarm will give you safety. It provides an active deterrent from burglars. And, because home insurers don't want to replace stolen or damaged items, they'll give you a discount if they believe your home appears to be safe.

Try the "good homeowner" discount. It saves you as much as 20%. If you haven't filed a claim on your home for at least 3 years, you may score this no-claims discount. Other price reductions that add up are: fire extinguisher, smoke detectors, smart home devices, gate, not too far from a fire department, and automatic payments.

The next tip is to buy home insurance at a different company. Bundling car and home insurance is a common discount. But, what if home insurance is cheaper at another company? The good news is that many carriers let you use this discount even if you don't buy all policies at one company. What you do is: ask your car insurer and home insurer to each give you a bundled discount. They often do after they verify you have an active policy with another carrier.

When you switch insurers, do it at least 8 days before the policy expires. This can be another double digit savings. Pricing is available for homeowners, renters, and landlords. Your home insurance policy can cover structures, personal property, and area coverage. By comparing home insurance policies, you may find the right deal at the right price.

There are over 100 home insurers. Which insurer will give you the best rate?

Consumer Fed has warned that 45% of major insurers unfairly hike up loyal customers’ rates just to maximize profits – insurers call it “price optimization.” This means your insurer will keep barely increasing your rate so it's statistically unlikely that you'll leave – this way your insurer makes a higher profit. The rule to fight back is simple. To get the biggest savings, compare discounted rates from a vast network of insurers (that are licensed in your area).

Step 1: Select your state.

Step 1: After you've entered your zipcode and complete the 60 second questionnaire, you'll have the opportunity compare the best rates in your area to possibly save hundreds per year.