When it comes to Homeowners Insurance, Remember these discounts and cost drivers as you shop for your new home.
- Year of Construction
As a general rule, as a home gets older, the more it costs to insure/upkeep. Homes built after 2002 receive discounts based on the face that 2002 was the date of the most recent building code changes.
- Construction Type
A wood frame house will cost about 25% more to insure than a comparable concrete block house.
- Roof Shape
A significant discount is available or having a hip shaped roof, due to its superior wind resistance.
- Wind Mitigation Credit
Have an inspector perform a Wind Mitigation Inspection, which looks for construction features that promote wind resistance. Depending upon the results of the inspection, this can result in savings of upwards to 30%!
- Secured Community Credit
Some companies offer credits for living in a gated community, a community having security guards, or even for a living on a cul de sac.
- Monitored Alarms
Monitored fire and burglar alarms will earn you some credits. It might be as little as $25 or as much as $100 per year.
- Fire Protection Class
A house within 5 miles of a fire station and les than 1000’ of a fire hydrant will cost less to insure than a comparable house outside those distances.
With all these things in mind, you should always take into consideration these, what seem to be minor, oversights in homeowners insurance.