Comprehensive List of Home Insurance Discounts (2024)

Most insurance companies offer home insurance discounts. Here’s how to find the best deals for your property coverage.

Christy Rakoczy
Written byChristy Rakoczy
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Christy has been a contributor at Insurify since August 2023.

Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Updated October 1, 2024

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Home insurance discounts provide you an opportunity to save on your property coverage. Discounts vary by insurer, but each one can reduce your premiums and make your home insurance a little more affordable.

Insurers apply some discounts automatically, such as multi-policy discounts if you sign up for several types of coverage. In other cases, like installing new safety equipment, it’s up to you to let your insurance company know you’ve done something that qualifies for savings.

Here’s what you should know about common home insurance discount opportunities so you can understand the options on the table to reduce your premiums.

Most common home insurance discounts

Some home insurance discounts are very common and offered by the majority of insurance companies.

Here are opportunities to save on your homeowners premium that you’re likely to encounter, no matter which licensed insurer you choose for your home or which state you live in.

  • illustration card https://a.storyblok.com/f/162273/150x150/8055843166/car-service-96x96-orange_040-garage.svg

    Multi-policy/bundling discounts

    You’ll qualify for a multi-policy discount if you purchase different types of coverage from the same insurer. Buying home and auto coverage together generally saves you up to 25%.[1]

  • illustration card https://a.storyblok.com/f/162273/150x150/7e8db66d9f/protection-and-security-96x96-yellow_016-door-lock.svg

    Security system discounts

    Security systems, such as a fully monitored alarm system in your home, can typically save you up to 15% on coverage.

  • illustration card https://a.storyblok.com/f/162273/150x150/3f71d2cfdb/firefighter-96x96-green_015-fire.svg

    Fire alarm and smoke detector discounts

    You can save as much as 5% on homeowners insurance premiums if you install fire alarms and smoke detectors to alert you immediately when flames break out.

  • illustration card https://a.storyblok.com/f/162273/150x150/edb628e3ac/insurify-icons-auto-blue-96x96_013-family.svg

    Loyal customer discounts

    Staying with the same insurer for years can earn you a discount of around 5% after three to five years and 10% if you remain a customer for six or more years.

  • illustration card https://a.storyblok.com/f/162273/150x150/df526b3cdf/surgery-96x96-yellow_028-form.svg

    Claims-free discounts

    Going claim-free for a set time, such as five years, can result in savings of up to 15%.

  • illustration card https://a.storyblok.com/f/162273/150x150/b045612c49/house-rental-96x96-orange_045-value.svg

    New homebuyer discounts

    Homes that are newer than 10 years old can be insured for much less, with discounts worth as much as 25%.

  • illustration card https://a.storyblok.com/f/162273/150x150/885ead1bff/family-96x96-green_005-grandmother.svg

    Senior citizen discounts

    Discounts for seniors can result in savings of around 15%, although some insurers may apply this savings only to retirees.

  • illustration card https://a.storyblok.com/f/162273/150x150/96ac3e2e7e/protection-and-security-96x96-blue_041-credit-card.svg

    Payment method discounts

    Payment methods such as auto pay or paying in full can typically save you around 5% on coverage.

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Lesser-known homeowners insurance discounts

You may also be able to find some unique discounts from specific insurers to go along with the discounts above.

Here are some examples of less common discounts you may still be able to take advantage of, depending on which insurance company you choose to buy from.

  • Gated community discounts: If your home is in a neighborhood secured by a gate, you could see premiums reduced by as much as 20%. But insurers usually reserve the greatest savings for areas with guard-gated communities and not just those with automatic gates.

  • Green home discounts: Green home discounts worth around 5% in premium savings are available for properties certified by the Leadership in Energy and Environmental Design (LEED) organization.

  • Affinity group discounts: Affinity group discounts may be available based on your employment or membership in a social or professional group. You may be able to save as much as 15% on your coverage with an affinity discount.[2]

  • Homeowners association (HOA) discounts: HOAs are associations that set neighborhood rules and maintain common amenities. If your home is in a neighborhood governed by an HOA, you could save up to 10% on home insurance premiums.[3]

  • Working from home discounts: If your job is remote and you’re home all day, insurers may reward you with lower premiums.

Companies with the most home insurance discounts

The availability of discounts varies from one insurance company to the next. When you’re making financial decisions and considering the costs of different policies, you should also know that discounts can vary by state.

Your ability to qualify for discounts may also be determined, in part, by the products you have in your home. Factors like whether you have security systems or an impact-resistant roof on your property are conditions that make a difference.

Check out this list of some of the top home insurance companies that offer a large number of discounts. You can see the ways to reduce your insurance policy premiums from different companies so you can take action to lower your prices.

Insurance Company
Listed Discounts
Notable Discounts
Farmers18ePolicy, UL-approved roofing materials, protective devices, rent-to-own, good payer, retirement community, fortified home
Chubb13Multi-policy, burglar alarm, fire alarm, new home, renovated home, gated community, residential sprinkler system, loss-free
Liberty Mutual11Paperless policy, preferred payment, multi-policy, wind mitigation, new roof, new or renovated home, newly purchased
Allstate9Multi-policy, claim-free, responsible payer, recent homebuyer, easy pay plan, windstorm mitigation
Mercury Insurance9Water leak detection, theft protective devices, wildfire mitigation, loss-free
Nationwide9Multi-policy, protective devices, claims-free, home renovation credit, roof rating, newly purchased home, prior insurance, gated community, smart home
American Family8Bundled coverage, smart home, generational discount, insurance payment discount, loyalty
Progressive8Pay in full, eDocs, new home construction, Florida wind mitigation, quote in advance, safety and alarms
USAA6Bundled coverage, protective device, loyalty savings, claims-free
Travelers5Protective device, green home, loss-free, homebuyer

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How to qualify for home insurance discounts

If you want to qualify for home insurance discounts, here are some steps to take:

  • Upgrade security features. Installing new safety devices, such as dead bolts or a security system, can reduce your premiums since these devices reduce the chance of a claim.

  • Make home improvement and safety enhancements. If you add a new roof, put in fire sprinklers, or take other steps to make your home safer, this will reduce the chances of a homeowners insurance claim. This, in turn, reduces your home insurance premiums. This can be especially important for older homes that may have more expensive insurance policies because of the lack of modern safety devices, like smoke detectors.

  • Bundle policies. You probably need several insurance policies to insure your home, car, boat, or business, and it’s often to your benefit to buy those policies from a single insurer. The more policies you can group with one insurer, the more money you can save.

  • Maintain a claims-free record. Once you’ve made a claim on your homeowners insurance, companies believe you’re statistically more likely to make additional claims in the future. As a result, insurers are likely to charge you higher premiums for a number of years after your initial claim. But if you can maintain a claims-free record, you’ll avoid these higher charges and can even get a discount from some insurers.

  • Choose the right payment options. Signing up for electronic statements and choosing your insurer’s approved payment method, such as making one annual payment or signing up for auto pay, can usually result in savings.

  • Compare insurance companies. Different insurers have different standards for setting policies and applying discounts. Often, the best way for you to save is to shop around regularly and get quotes from several insurers to see which one is the cheapest given your current situation. This can change over time as insurance company policies change and as changes happen in your life and in your area.

You can get the best deal by gathering your information and using a price-comparison platform to compare quotes from several insurers at the same time. You can also consider working with an insurance agent to better understand your options and to identify any discounts that may not appear on a company’s website.

Home insurance discounts FAQs

If you still want to learn more about how to make the most of home insurance discounts, here’s some additional information that you may find helpful.

  • What is one way to lower your premiums on your home insurance?

    Taking advantage of discounts can be the best way to lower premiums. Ask your insurer about savings opportunities for things like bundling coverage or installing an alarm.

  • Which insurance companies offer the most discounts?

    Many different insurance companies offer discounts. Farmers and Chubb are two examples of home insurance companies that offer more than 10 different opportunities to help you save.

  • How do you qualify for a multi-policy discount on your homeowners insurance?

    You can qualify for a multi-policy discount on your homeowners insurance by purchasing different kinds of insurance from the same company. This could include homeowners insurance and an auto, business, or boat policy, for example. The good news is that you’ll typically save on both policies.

  • What types of home insurance discounts are commonly available?

    Many types of homeowners insurance discounts are common, including multi-policy discounts, savings for safety devices, and discounts for not having made recent claims on your policy.

Sources

  1. Allstate. "Homeowners discounts."
  2. Gallagher. "Affinity."
  3. LG Insurance Agency. "10 Overlooked Home Insurance Discounts."
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Christy has been a contributor at Insurify since August 2023.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

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