INSURING YOUR PEACE OF MIND AND SAVING ON PREMIUMS
Always ask what discounts are available and see if you are eligible. Generally, discounts recognize a lower category of risk. Listed below are the most common types of discounts available. They could range from 5 to 10% premium discount each. You could utilize several of them. However, most insurance companies have a cap on the aggregate amount of discounts not being more than about 50%-70% of the base premium.
Mortgage-free discount
Loyalty discount (e.g., a customer for more than 3 years)
Block Watch discount (e.g., your community is a member of Block Watch or country equivalent)
Mature discount (over 50 years of age)
Senior discount (over 60 or 65 years of age)
New home up to 10 years old discount (with a depreciated premium discount for each year the house is older than new)
Monitored fire and burglary alarm (through a central station)
Local alarm discount (built into the home that will go off when motion or fire is detected)
Multi-line discount. If you have different types of insurance products with the same insurance company or broker, e.g., house, boat, car, etc.
Claims-free discount. This is a discount you don’t usually have to ask for. Most insurance companies will reduce your premium automatically if you have been claims free for three or more years, but don’t assume this. Ask the question in advance.
When selecting your insurance protection, do comparison-shopping of policy rates, features, and coverage. It is a highly competitive marketplace. It is also cheap money for peace of mind.
To help your research and save you time and hassle, check out our
free checklists and forms on our "Worksheet" section, as well as the
stats, surveys, and reports, useful links, etc, on our "Helpful Info" section, both shown on the index on your left.
