Few companies are going to willingly unroll ever minor discount they have at their disposal. It would not be a wise business practice, and that is perfectly acceptable. Savvy customers know that to receive something they simply need to ask. Few industries are as open to discounts and additional savings as the insurance industry. The entire field is built on customized pricing and costs attributed directly from the features and characteristics of the consumer. Discounts and Credits in Home-owner’s Insurance can be found all over the place. There are at least three discounts that are commonly applied to home-owner’s insurance.
Security features: Insurance companies are comforted to hear about a home that went beyond traditional security. A door lock is one thing, but how about a deadbolt? Home-owner’s insurance can be reduced dramatically with the addition of a full security system- cameras, mobile interaction, door passwords, and the whole nine yards.
Claims-Free History: Insurers look at past history to assess a home-owner’s cost. The past history does not always reflect on the claims, which is a major area for cost saving. If an account holder has no claims, they could see reduced payments. It is the same logic that applies to auto insurance where accident and claim free drivers save big.
New Home Renovations: Some threats are purely accidental and have nothing to do with robberies or exterior threats. Home renovations suggest that a home is in better shape overall for insurance coverage. For example, a homed renovation could accommodate new electrical. A renovation could include a new hot water heater less prone to heating up or causing an explosion (it happens). Discounts and Credits in Home-owner’s Insurance are applied for individuals that did work in their home very recently.
Some may not be applicable to every company. The heart of the discussion is about asking for discounts. Simply bringing them up in a kind manner could be enough of a reason for a company to consider adding it to the package. Some discounts cannot be controlled as immediately, such as claim history. Discounts such as a new roof or deadbolt can be applied right now.