10 Homeowners Insurance Discounts to Lower Your Home Insurance Rate

If you haven’t shopped around for insurance discounts, you could be missing out on big savings. Check out these 10 homeowners insurance discounts.
Written by Cheryl Knight
Reviewed by Carrie Adkins
If you are a property owner, a homeowners insurance policy is a mandatory expense. But just because homeowners insurance is mandatory doesn't mean there aren't discounts to be found!
That being said, there are discount limits. Home insurance is an extremely regulated industry. Many insurance companies won’t allow you to have discounts that total over 25% of cost of the plan.
If you are interested in shaving a few dollars off your insurance policy every month, here are some discounts to explore. Who knows? You might qualify for more than one!
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1. Claims-free discount

Some companies have a loyalty discount that kicks in after a certain amount of years (usually five) without filing a claim.
The less you need your insurance company, the more they want your business. When you go years without filing a claim, you save your insurance company money and they are willing to pass some of those savings on to you.

2. Group insurance discount

The industry you work in may qualify you for potential savings on your home insurance. Members of the military, educators, emergency responders, and other high-profile careers are usually offered discounts by insurance companies.

3. Retiree discount

Home insurance companies offer discounts to retirees for a few reasons.
Firstly, they are home more often which helps prevent perils covered by your home insurance (like theft) from occurring. Retirees are also more likely to take care of their home when it comes to upkeep and maintenance.

4. Non-smoker discount

If you’re a smoker, then you’re at an increased risk of starting a house fire. Some insurance companies will give you a discount if there are no smokers in your home.
MORE: What is a new home insurance discount?

5. Home security system discount

Having a home security system installed can also net you a discount on your home insurance policy. The caveat is that the system must be monitored by an outside company, such as ADT.

6. Home sprinkler system discount

If you have a sprinkler system installed in your home, chances are you can get a discount on your homeowners insurance. This is because a sprinkler system can greatly reduce the damages caused by a fire, which could save your insurer money in damage claims in the long run.

7. Water-leak sensor discount

Homes with a leaky pipe or pipes can suffer considerable damage from water leaks. A water-leak sensor can help reduce potential damage, which could save your insurer money that would otherwise be claimed for water damage.

8. Disaster-resistant construction discount

If you build your home from fire-resistant materials or those designed to withstand disasters, you can qualify for a discount with some insurance companies. Using disaster-resistant materials when you renovate your home could also qualify you for this discount.

9. New roof discount

Installing a new roof on your home? Let your insurance agent know if it's built from impact-resistant materials because that could earn you a discount on your home insurance.

10. Paid-in-full discount

You could also qualify for a home insurance discount by paying your homeowners insurance premiums upfront. While the discount isn’t huge, it can really add up when combined with other discounts.
When purchasing homeowners insurance, make sure to ask your agent about the discounts available. It’s also a good idea to revisit your coverage every year to see if anything has changed and if you qualify for any additional discounts.
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