5 Key Homeowners Insurance Discounts to Reduce Your Premium

Homeownership is a dream come true for many, but it also comes with its fair share of responsibilities. One of those is securing the right homeowners insurance. While protecting your investment is essential, those insurance premiums can add up quickly. But did you know that there are plenty of ways to save on your homeowner insurance costs? Let's explore some key discounts you might qualify for and how a little effort can translate to big savings!

1. Multi-Policy Discount: Bundle Up and Save

Potential Savings: 5% to 25%

One of the simplest ways to cut your homeowners insurance premium is by bundling it with your auto insurance under the same provider. Insurers reward loyal customers by offering discounts for holding multiple policies.

Benefits of Bundling:

Cost Savings: Enjoy discounts ranging from 5% to 25% on your total premium.
Convenience: Manage all your insurance policies through one provider, simplifying payments and communication.

Pro Tip: Compare bundled quotes from different providers to ensure you’re getting the best deal. Ask your insurance agent about the specific benefits of their multi-policy discount.

2. Claims-Free Discount: Rewarding Responsible Homeowners

Potential Savings: 5% to 20%

A clean claims history shows insurers that you’re a low-risk policyholder. As a reward, many insurance companies offer discounts to homeowners who haven’t filed claims for several years.

How to Qualify:

Regularly maintain your home to prevent potential issues.
Address small repairs promptly to avoid costly damages.
Implement preventive measures like weatherproofing or installing a sump pump.

Quick Tip: Even if you’ve had minor incidents, avoid filing claims for low-cost repairs to maintain your claims-free status.

3. Home Security Discount: Protect Your Home and Save on Insurance

Learn more

Potential Savings: 5% to 20%

Installing a security system not only deters theft but can also lower your insurance premium. Insurance providers often reduce rates for homes equipped with devices like:

Security cameras
Motion sensors
Smart locks
Smoke and carbon monoxide detectors

Why Security Matters:

A secure home reduces the likelihood of claims, making you a less risky policyholder.
Smart home devices provide real-time alerts and remote monitoring, further enhancing safety.

Boost Your Savings with Kangaroo Home Security

Kangaroo’s affordable and user-friendly security systems can help you qualify for these discounts. Features like motion detection, real-time alerts, and two-way audio enhance protection and give you peace of mind. With Kangaroo’s Complete Protect Plan, you can also access 24/7 professional monitoring and theft or damage reimbursement for added value.

4. New Home Discount: Lower Risk, Lower Premiums

Potential Savings: 5% to 15%

If your home is newly constructed, you could qualify for a discount. New homes are often built with modern materials and updated safety features, reducing the risk of damage.

Qualifying Features:

Fire-resistant roofing materials
Energy-efficient windows and insulation
Up-to-date plumbing and electrical systems

Expert Tip: When shopping for a new home, consider properties with the latest safety features to maximize your insurance savings.

5. Loyalty Discount: A Reward for Sticking Around

Potential Savings: Varies by insurer

Sticking with the same insurance provider can pay off. Many companies offer loyalty discounts to long-term customers, rewarding them for their commitment.

Key Takeaway: While loyalty discounts can save you money, periodically compare rates from other insurers to ensure your premiums remain competitive.

Special Discounts: Who Else Qualifies?

Besides these common discounts, several groups may be eligible for special discounts:

Seniors: Many insurers offer discounts to seniors.
Veterans and active military personnel: Insurance companies often provide discounts to honor the service of veterans and active-duty military members.
Non-smokers: Some insurers offer discounts for homeowners who don't smoke, as it reduces the risk of fire damage.

Remember: Shop Around and Ask Questions!

The best way to ensure you're getting the most affordable home insurance is to shop around and compare quotes from different insurance companies. Don't hesitate to ask your insurance agent about all the available discounts you may be eligible for. Also, inquire about how upgrading your home's security or making improvements like installing a new roof could impact your premium.

Maximize Savings with Kangaroo Dory Concierge

Meet DORY

Potential Savings: Varies by insurer

To make the process even easier, Kangaroo offers a unique service called Dory Concierge. This smart tool helps you find hidden savings on your home insurance by analyzing your existing policy and identifying potential discounts. It's like having a personal insurance expert working for you!

Real Stories, Real Savings

Don't just take our word for it – here's what some Kangaroo customers have to say about their experience with Dory:

"I didn't even know this was possible until I contacted Kangaroo, and I was offered it! They contacted my insurance company and saved me 10% overall." - Spree, Oct 2022

"Thanks Kangaroo - impeccable Customer Service Team so appreciated!" - Melissa, Nov 2022, $72 refund plus $51 annual savings on premium

"Thanks for letting me know I was eligible for the discount." - Robert, Dec 2022, $92 discount on annual premium

"The entire process was satisfactory." - Caleb, Feb 2024, $154 annual premium discounts

"Super easy and super helpful." - Pat, Oct 2022, $175 discount on their annual premium

Related Statistics on Homeowners Insurance Discounts

According to a survey by Insurance.com, the average homeowner saves about $730 per year by taking advantage of various discounts.
The most common discounts include multi-policy discounts (saving an average of 17%), claims-free discounts (saving an average of 10%), and discounts for protective devices like security systems (saving an average of 5%).
Bundling home and auto insurance is one of the most effective ways to save, with potential discounts ranging from 5% to 25%.
Other factors, such as your credit score, the age of your home, and even your occupation can also impact your eligibility for discounts.

Conclusion

Homeowners insurance doesn’t have to strain your finances. By taking advantage of discounts like bundling, installing security systems, and maintaining a claims-free history, you can significantly reduce your premiums.

Ready to save? Explore Kangaroo’s smart home security solutions and let Dory Concierge help you unlock hidden discounts. With the right approach, protecting your home can be both affordable and effective.

Frequently Asked Questions (FAQs)

Homeowners insurance protects your home and belongings from covered events like fire, theft, or natural disasters. It also provides liability coverage for accidents on your property.
- Bundle home and auto policies
- Install a security system
- Maintain a claims-free history
- Explore special discounts for seniors, veterans, or non-smokers
Yes! Dory utilizes secure data storage and never accesses your information directly. It’s a free service designed to help you save on insurance premiums.
Absolutely. While Kangaroo devices simplify the process, insurers often accept certificates for other systems with proof of installation.