Homeowners insurance in California, is a necessity when it comes to buying a house. In fact, most mortgage companies will not finance a real estate transaction unless you provide proof that you have the proper coverage for most if not all of the property you intend to purchase.
Over the next few weeks, Scurich Insurance Services would like to give you a few tips when it comes to purchasing homeowners insurance as well as some cost saving ideas that can actually help reduce your insurance costs.
This week we will be taking a look into the different types of discounts you can receive when it comes to your homeowners insurance policy.
You’re probably familiar with the basic discounts that most insurance companies offer on Homeowners coverage, such as bundling Home and Auto insurance, loyalty rewards, and installing smoke detectors and/or home security systems.
However, a growing number of companies offer significant premium discounts on Homeowners insurance to policy holders who are:
- Senior citizens. If you’re 60 or older, you could lower your premium by as much as 15%.
- Non-smokers. If you’ve given up the habit — or have never picked up a cigarette, cigar, or pipe — you might qualify for a discount.
- Married couples or widows/widowers. Could be eligible for discounts of up to 5%.
- New buyers who have closed a home purchase within 60 days.
- Willing to increase coverage to reflect a rise in inflation.
- Ready to buy coverage for the full value of a home.
- Prepared to buy from a new carrier before the policy with your current insurance company expires.
- New policy holders with the company (the “welcome” discount) and purchasing coverage for the entire value of your home.
You might also be eligible for a discount if you don’t have a Property damage claim for a specified period, such as three years.
Bear in mind that many insurance companies might not offer some (or any) of these discounts.
To see if you’re eligible for any of these policies simply check with the professionals at Scurich Insurance Services located in Watsonville, California. We might be able to save you some big dollars.