You don’t want to spend more on home insurance than you have to – and you shouldn’t. Our whole jam is to help you get easy, reliable coverage at a great price. That’s why we help you take advantage of every available home insurance discount.
Every company has their own discounts and savings amounts. We’re going to focus on the discounts we do offer, but we will explore some additional common discounts, too.
As always, if you ever have questions about what discounts you qualify for, just ask! We’re happy to crunch the numbers and help you get every opportunity to save.
You know these devices – these are your monitored smoke alarms, motion sensors and cameras, and security system. These devices help you make your home safer and minimize the chance or severity of a fire or theft claim, which is why most insurance companies offer a discount for them. The logic is that the faster the fire department or police can respond to a fire or break-in, the fewer losses you’ll have. Plus, security systems may deter thieves, which reduces your chance of experiencing a break-in in the first place.
Insurance companies may differ on which type of system qualifies for a discount. Most only accept centrally monitored systems, but at Kin, local, direct, central, automatic, and smart home verified systems are eligible.
These devices are getting more affordable each day, and many water detection systems are smartphone-ready so you can get leak alerts anywhere. Some systems even have automatic water shut-offs. Because water damage can be costly, insurers are eager to reward homeowners who take measures to reduce or offset the chance of leaks.
Florida homeowners know how important a roof is: it can be the difference between a home being completely destroyed or staying intact during a hurricane. The more wind-resistant your roof is, the more you’ll save on your home insurance. To qualify for these credits, homes must have a roof covering, roof-deck attachment, roof-wall connection, attachment opening protection, hip shape roof, and secondary water resistance. A wind mitigation inspection is typically required.
If you live in California, you may benefit from the steps you take to make your home more resistant to wildfires. Insurers like Kin offer discounts for ember-resistant venting, having an annual brush removal contract in place, and for complying with defensible space regulations.
If you haven’t filed a claim in more than seven years (that’s about the time it takes for a claim to drop off your CLUE report), you may qualify for a claim-free discount. Policyholders who don’t have recent claims on their record may be considered less likely to file a claim in the near future.
This is a Kin-only discount – and we’re pretty proud of that. We created the Responsible Repair Discount in response to Florida’s assignment of benefits reform. Essentially, legislators made it more difficult for contractors to take advantage of homeowners who file claims and need repairs. Our discount works similarly. Our policyholders get this discount when they agree not to sign their claims benefits over to a contractor.
If your home was built less than six years ago by an accredited builder – that is, an active builder who provides a warranty covering wall-to-wall defects in the workmanship or materials – you may qualify for this discount.
In an effort to reduce carbon footprints and paper use, many insurance companies (Kin included) are encouraging policyholders to go green and manage their policies online. In many cases, this is a $10 discount – not bad for something you might’ve been planning to do regardless.
You may qualify for discounts if your home belongs to a homeowners association, is in a mobile park, or is part of a secured community. The logic here is that HOAs and mobile home parks typically have quality standards for home maintenance. A well managed home may have fewer liability exposures. Plus, these communities may have neighborhood watches that decrease break-ins.
Similarly, a home in a secured community means it has a single entry, 24-hour security patrol, pass-key gates at all entrances, or 24-hour manned gates. Homes in these communities are more difficult to burglarize and therefore more attractive to insurance companies.
Homeowners 55 and older are eligible for discounts because with age comes wisdom! At least from a risk perspective, older homeowners tend to be responsible. They are home more often, which may deter break-ins. They also typically don’t throw rambunctious parties that could quickly become a liability.
Buying a new home is exciting, and many insurers want to be your first pick for protecting it. That’s why insurance companies often offer a discount if you bought your home within the last 12 months.
A LEED-certified home, or a home that meets the Leadership in Energy and Environmental Design Green Building Rating System, an environmental building standard, may be eligible for a homeowners insurance discount depending on the insurer and the state. For example, Kin offers this discount to California homeowners. It’s a small way to incentivize sustainability and energy efficiency because on average, LEED-certified homes use 20 to 30 percent less energy.
Homeowners insurance companies often charge a small processing fee (like $3) per premium installment payment. That isn’t much, but it can add up if you opt for a 10-pay installment plan – you’d pay $30 extra over the course of the year. That’s why some companies offer a small discount to encourage paying the premium all at once.
This isn’t available from Kin just yet, but bundling policies (i.e., buying two policies from the same company) is a very popular discount. Usually, you get a discount on your home insurance if you buy auto insurance from the same company. That said, it’s still smart to shop for each policy separately just to compare coverage and make sure you’re really saving money.
Customers who stick with the same insurance company for a few years often qualify for a loyalty discount. It’s a small way to thank a valued customer.
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