SATURDAY, MAY 25, 2013
Home Insurance premiums are going up these days in Texas. You may see real savings, though, if you will take a few minutes to check around and make sure that you are getting all the discounts available. Below is a brief discussion on some discounts available on homeowners insurance. Not all discounts are offered by all homeowners insurance companies, but it pays to ask your insurance agent which ones he has available.
Hemphill Insurance Agency in Fort Worth, TX represents insurance companies which offer many or all of the discounts discussed below. We are happy to discuss them with you at no cost and no obligation. Call us at (817) 923-2001.
If you have a monitored burglar and/or fire alarm, you can get a discount off your premium. Most Alarm companies will provide a certificate for you to give to your insurance agent to obtain the discount on your homeowners insurance.
Age of Roof Discount
If you have recently replaced your roof, let your agent know. Some insurance companies offer a discount for newer roofs.
Newly Purchased Home Discount
If you are shopping for a home and getting insurance quotes, some insurance companies offer a discount on newly purchased homes. Tell your agent if the quote you are getting is for a home you are just now buying.
Many insurance companies offer a Senior Discount on their homeowners insurance policyholders. If you are 60 or older, make sure to let your agent know.
Newer Home Discount
If your home is less than 10 years old, many insurance companies discount their rates. If your home is less than 10 years old it pays to shop for a company that discounts their rates on newer homes.
Good Credit Discount
Many insurance carriers use credit as a component in their rating. If you have good credit, you can see substantial savings with these insurance companies. Ask your agent how your credit history effects your rate.
Companion Policy Discount
Some insurance companies offer substantial savings if you put both your homeowners insurance and auto insurance with them or through their agent. Ask your agent if any additional discounts are available for placing both your home insurance and auto insurance with them. The discount is also sometimes available when other lines of insurance are with the same insurance agent or insurance company such as a motorcycle insurance, boat insurance, or RV insurance.
Hail Resistant Roof Discount
Did you have a hail resistant roof? If your roof complies with the Texas Department of Insurance requirements for Impact Resistant Roofing Credits, some insurance companies will discount your homeowners insurance rate. There are 4 levels for this discount, and each insurance company establishes the amount of discount available for each level. The roofing material must have passed the UL Standard 2218 test and be property labeled. The Texas Department of Insurance also requires a certificate from your roofer, so make sure your roofer provides you with the form that is required.
The link below will take you to the Texas Department of Insurance web page with details about this credit:
Products Qualifying for Impact Resistant Roofing Credits
Accredited Builder Discount
Some insurance companies offer extra discounts when newer homes which were built by a home builder with a good reputation. If your home is less than 5 years old, ask if the home builder is on the insurance company's list of accredited builders. You may qualify for an extra discount
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