7 Ways to Lower the Cost of your Homeowners Insurance

March 03, 2021 | By Becky House
Close-up of a hand with a pen and homeowners insurance policy

When it comes to Homeowners Insurance,

Remember these discounts and cost drivers as you shop for your new home.

  1. Year of Construction

As a general rule, as a home gets older, the more it costs to insure/upkeep. Homes built after 2002 receive discounts based on the face that 2002 was the date of the most recent building code changes.

  1. Construction Type

A wood frame house will cost about 25% more to insure than a comparable concrete block house.

  1. Roof Shape

A significant discount is available or having a hip shaped roof, due to its superior wind resistance.

  1. Wind Mitigation Credit

Have an inspector perform a Wind Mitigation Inspection, which looks for construction features that promote wind resistance. Depending upon the results of the inspection, this can result in savings of upwards to 30%!

  1. Secured Community Credit

Some companies offer credits for living in a gated community, a community having security guards, or even for a living on a cul de sac.

  1. Monitored Alarms

Monitored fire and burglar alarms will earn you some credits. It might be as little as $25 or as much as $100 per year.

  1. Fire Protection Class

A house within 5 miles of a fire station and les than 1000’ of a fire hydrant will cost less to insure than a comparable house outside those distances.

With all these things in mind, you should always take into consideration these, what seem to be minor, oversights in homeowners insurance.

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