Hidden Homeowners Insurance Discounts - Mackoul Risk Solutions | Condominium and Co-op Insurance on Long Island, NY Skip to main content

Hidden Homeowners Insurance Discounts

By May 28, 2013 April 15th, 2018 General Updates

Did you know that there are homeowners discounts available that may lower your insurance cost? Insurance companies determine what your home insurance cost will be based on a number of factors. Some of these factors are completely out of your control. Factors that are out of your control include your home location, claim history and age of the property. But you can control other factors. Read on to see what discounts may save you money:

1. Deductible Options – By selecting a higher deductible, you may qualify for an additional savings in premium.

2. Paid in Full Discount – If you pay your annual premium at once you can save money on your policies. This discount applies to your Homeowners and Automobile Insurance.

3. Multi-Policy Discount – Buying multiple policies (such as Home, Auto and Personal Umbrella Insurance) may qualify you for an additional discount.

4. New Home Discount – If you purchased your home within the last 24 months, congrats on your status as a new homeowner! This may entitle you to lower a premium.

5. Mature Person Discount – If you are above a certain age, you may enjoy savings on your Homeowners Insurance and Auto Insurance policy. *Minimum age depends on the insuring company.

6. Household Fire Extinguishers – Just by having fire extinguishers in your home may qualify you for additional discounts on your Homeowners Insurance.

7. Deadbolts & Other Security Measures – If you have deadbolts or an alarm system installed, you may qualify for a discount.

8. Smoke Alarms – Installing smoke detectors on each floor of your home could qualify you for this discount