Top Five Homeowners Insurance Credits

Home insurance has always provided needed protection to homeowners. However, home insurance is not seen by most homeowners as a critical component of their overall financial picture, unless a claim is filed.

As a homeowner, you should evaluate your coverage one to two times annually to see if there are opportunities to save on home insurance costs. Probably, the easiest ways to lower your premium is to increase your deductible. However, there are other ways to save money in the form of insurance credits, readily available to many homeowners.

The following is a list of the top five home insurance credits:

Central Monitoring
The added protection of central monitoring systems which can shut off the water, if ever, a leak is detected or identify rise in indoor temperature, can prove invaluable in your absence. For example, Chubb Insurance provides 2% credits for water-leak detection systems and temperature monitoring systems.

Disaster Vigilance
Disaster preparedness gives you further opportunities to cut premium costs. Several credits are offered to homeowners who are proactive in protecting their homes against natural disasters. For instance, storm shutters and shatterproof glass windows can reduce premiums. Certain insurance companies give discounts of up to 20% for the installation of wind resistant roofs.

Security Protection
Many home insurance companies offer credits for a functioning security system. The extent of credits also depends on the kind of security detection system. By adding smoke detectors, a burglar alarm, or dead-bolt locks, you may save 5% off your regular premium. Add an intricate fire and burglar alarm system that directly alerts the police department, fire, or another monitoring station, and you may be qualify for 15% or 20% savings on your premium.

Repeat Customers Discounts
If you purchase multiple insurance products from your home insurance company, such as auto insurance, life insurance, and other types of insurance, you may be eligible for more premium discounts.

Additional Discounts
By residing in a gated community, you may qualify for a 5% premium discount. Also, you may be eligible for more savings by updating your plumbing or electrical system.