Top home and auto insurance discounts that most consumers don’t know about

These days consumers are looking to save money everywhere they can. Oftentimes they may be missing out on money-saving insurance discounts that their agent forgot to tell them about and they forgot to ask about. Here are the top home and auto discounts that you should ask your agent about today:

1- Retiree discount

As if early bird specials and senior citizen discounts weren’t great enough, many insurance providers offer substantial discounts of up to 20% off homeowners insurance premiums for retirees on their primary residence. If you are 55 or older and the home you are looking to insure is your primary residence you should talk to a homeowners insurance agent to find out if you are eligible for this discount. (FYI- Primary residence refers to the residence where you reside most of the year and does not include seasonal or vacation properties.)

2- Home-auto bundle discount

You may wonder, “What do home and auto insurance have to do with each other?” The answer is- they may add up to some savings if you package both policies with one carrier. Some major insurance providers such as State Farm and Allstate boast savings from 10-25% off of home insurance rates for homeowners who choose to insure their vehicles with them as well. Even if their auto rates are slightly higher than where you are currently- you may still save just by taking advantage of the additional discount.

3- Home security discounts

Most people know that they can save on their home insurance if they have a home security alarm but did you know that little things like deadbolts, fire extinguishers and smoke alarms can also qualify you for discounts? Check your policy or ask your insurance agent today if you are getting credit for the security and safety features in your home.

4- Lump sum discounts

Many car insurance companies will give you a credit on your premium if you pay your 6- or 12-month premium up-front instead of breaking it into monthly payments. Homeowner’s insurance carriers may offer the same discount depending on the state in which you live. Even if it’s a just a few dollars off your premium every month, that cash can really add up over time. Figure if you save just 5 dollars per month for the entire length of a 30-year mortgage you could have saved $1800.

5- Non-smoking discount

As if you needed another bonus to quitting smoking, now many homeowners insurance companies are offering discounted rates for homeowners who maintain a smoke-free home. Since smoking is a leading cause in home fires, many providers are now rewarding homeowners who don’t smoke since they are less of a risk to insure than smokers. If you don’t smoke or recently quit, let your insurance agent know ASAP to make sure you get a credit on your home insurance premium.

Most policyholders assume that their insurance agent will apply discounts like these automatically but this is not always the case. Be sure to ask your agent about all of the discounts available in order to get qualified as soon as possible.