Little-Known Home Insurance Discounts

While you may know that installing a security system and smoke detectors in your home and combining your car and home insurance with the same company can give you discounts on your home insurance costs, there are some lesser-known home insurance discounts of which you can take advantage if you are eligible. At Elite Insurance Solutions, one of our goals is to save you money on your insurance costs. We know about the discounts insurance companies give consumers to encourage them to be more careful and better understand their home. We would like to share with you some of these little-known home insurance discounts that can possibly save you up to 25% on your homeowner insurance premiums.



If you live in a gated community, that added layer of security can help you save money on your home insurance plan. Where you live will always affect the cost of your homeowner insurance. Some parts of a city statistically pose more of a threat of theft and vandalism, but just because you live out in the country does not mean you will automatically save on your home insurance. Companies look at how far you live from the local fire department, and it can cost you more money if you are many miles from the nearest firehouse.


If you live in an older home with old wiring, you can be at risk of electrical problems. According to BankRate, the U.S. Fire Administration has reported that within a typical year, home electrical problems result in 67,800 residential fires, 485 deaths, and $868 million in property losses. Outdated home wiring is responsible for twice as many fires than electrical appliances. Having a professional electrician install new electrical wiring in your home can save you up to 10% on your home insurance premiums.


Just like the Good Driver discount on auto insurance policies, an absence of home insurance claims can also save you money on your homeowner insurance plan. Many companies will give a credit of up to 20% if you have filed no claims within the past ten years.


Unlike auto insurance where you pay more to insure a new car, home insurance companies will give you a discount of up to 25% when you buy a new home or renovate your older home. New and updated homes provide less safety risks because new pipes do not leak, new furnaces do not break down, new electrical panels and wiring do not cause fires, and new roofs, chimneys, and foundations do not usually lead to expensive claims. If you are considering a home renovation, check with Elite Insurance Solutions first as we can tell you how you can maximize your home insurance savings on certain projects.

Want to know about more hidden home insurance discounts? Contact Elite Insurance Solutions to talk with one of our agents about how you can save money on your home insurance premiums.

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