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Ten Insurance Credits That Maximize Homeowner Savings

June 28th, 2018

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As a homeowner it’s common to provide your insurance broker with certain input such as home security systems, smoke alarms, and bundling auto and home, to claim various discounts. But did you know that there are a variety of additional discounts available that can save you money? Depending on Carrier guidelines, you can save up to 25% by utilizing the following recommendations.

Maximize your discounts with these ten steps:

  1. Always update your advisor with any new information or changes. Request an annual policy review to ensure your coverage is correct.
  2. Whenever possible, place your policies with the same carrier. Often clients have their auto policy and homeowner policy with two separate carriers, leaving them at a disadvantage. Not only are you missing out on a multi-policy discount but you may have gaps in your coverage when one agent is not handling your whole account.
  3. Youthful drivers can increase your premium significantly but adding the good student discount can help mitigate a portion of the premium.
  4. If you are 55 and over, completing a mature driver course can grant additional savings.
  5. If you have your degree, or recently graduated, check available discounts. Savings can vary by degree level.
  6. Check if your career provides a discount. If you are an engineer, scientist, educator, fireman, and/or police officer, you may be eligible for additional discounts.
  7. Verify if your billing plan carries additional fees. Discounts for payments paid in full may be available. You may also qualify for additional discounts by setting up electronic payments or going paperless.
  8. Residents living in gated communities may qualify for a reduction in premium.
  9. Home upgrades such a rewiring qualify. New wiring, installed correctly, is safer and less likely to cause outages, shortages or fires.
  10. Installing high-tech sensors that detect water or natural gas leaks may also qualify you for discounts.

It’s important to conduct an annual review of your insurance coverage with a knowledgeable broker who understands the available discounts and how to best apply them. At Brown & Brown, our Personal Lines Advisors offer complimentary reviews of your policy. Please contact us to schedule yours.

Brown & Brown is the 6th largest insurance intermediary in the country. More than 75 years of success has enabled us to identify new opportunities, adapt our solutions and services to meet changing market demands, and satisfy the various needs of our customers. Backed by national strength and local presence, with over 300 locations and 8,500 teammates strong, we have solutions to fit all your insurance needs.