For the last three months, Nova Scotia’s COVID-19 Stay-at-Home directives have forced us to spend a lot of time at home. Together we’ve done an amazing job to “crush the curve”. With Summer upon us, we can now spread our wings and enjoy the great outdoors, knowing that our home has served us so well through these challenging times.
With all that time at home, you probably know your home better than ever. It begs the question – are you missing out on home insurance discounts? These top discounts can save you money and to qualify for them is easier than you may think. If you’re wondering how you could save more on your home insurance, here’s a helpful list of discounts to discuss with your Bauld Insurance Advisor.
- Mature Homeowners. Getting older has its benefits. The age requirement and amount of premium discount vary by insurance companies, while some will automatically factor your age into your premium calculation.
- Credit Scoring. Most insurers are now using credit as an additional factor to determine premiums. Allowing a “soft” credit check (soft inquiries won’t affect your credit scores) can result in preferred pricing and potentially save you money on your premium.
- Home Age. Some insurers offer discounts on newer homes, while others automatically factor the age of a home into their premium calculations. The percentage of savings may decrease as the home gets older.
- Alarm Discounts. For homes with a central alarm system that monitor fire and security such as burglary.
- Heating Type. Homes that use an alternate heating source, other than oil as their primary heat source and wood for a secondary heat source, tend to have fewer fire claims and therefore qualify for a premium discount.
- Water Damage Prevention. If your home has water leak prevention and shut off systems such as a working sump pump or backflow valve.
- Tankless Water Heater. If your hot water comes directly from your heating system with no separate hot water tank, there is no risk of water leaking. This gets you an additional discount.
- Unfinished Basement. Some insurers will give premium discounts if your basement is not finished as living space since there is less risk of damage.
- Mortgage-Free Discount. Available for homeowners who have completely paid off their mortgage.
- Multi-Policy Discount. For homeowners who bundle their home and car insurance policies with the same insurance company. Discounts also available for more than one property on one policy.
- Claims-Free Discount. Homeowners who have been claims-free for a specific number of years. This discount could even increase over time.
It is important to provide your Bauld Insurance Advisor with full and accurate information so we can ensure you get the best coverage and value for your money. Now is a good time to fine-tune your home insurance policy. If you are not yet a customer, we’d love to talk and provide you with a home insurance quote.
Contact us today or send us an email email@example.com