Yes, you can save money on homeowners insurance

Anyone who watches television has undoubtedly heard Flo from Progressive or Jake from State Farm tout the benefits of bundling, using the same insurance company for both home and auto insurance. According to Travelers, customers can save an average of 12 percent by bundling.

The Grahams are paying a total of $9,864 for their homeowners and auto insurance coverage, and that’s after a 20 percent credit for grouping and an additional 10 percent credit for having a central station alarm system, which automatically signals a control center in the event of a theft, fire or other problem. They also lowered their premium by raising their deductible to $10,000.

Homeowners insurance premiums continue to rise: The average premium rose 1.8 percent in 2019, the latest year for which statistics are available, to $1,272, according to the Information Institute of ‘Insurance, an industry trade group. But it may come as a surprise to learn that more than 26 percent of Americans have never compared insurance quotes, according to a ValuePenguin survey conducted in 2021. This is likely costing them money, as the survey also indicated that 76 percent of consumers who shopped saved money. doing this

“Some discounts are pretty common, like the package discount,” said Angi Orbann, vice president of property for personal insurance at Travelers. “But there are a lot of other discounts that probably aren’t as familiar to customers.”

Here are some of the more common ways to lower your premium:

Improve home safety and security. Installing protective devices such as fire alarms, burglar alarms, locks or smoke detectors reduces risk to an insurance company and can qualify for a significant premium credit. “Water is a growing trend in terms of losses, and we offer discounts for installing water sensors,” Orbann said. “Larger discounts are available for valves that automatically shut off the water.” This is especially important for vacation homes, which can be vacant for months at a time.

Update your home. Have you replaced your roof or, if you’re in a storm-prone area, installed impact windows or storm shutters? If so, you may be eligible for a rebate to strengthen your home. Updating the electrical system reduces the risk of fire, which could also benefit from a rebate, according to Loretta Worters, vice president of the Insurance Information Institute.

turn green. Some companies, such as Travelers, offer a green home discount that saves policyholders up to 5 percent of their premium if their property is LEED certified.

Improve your credit. Increase your credit score and you can lower your premium. “The industry has shown that there is a direct correlation between credit score and the likelihood of a loss, because someone with poor credit is more likely to put off routine home maintenance,” said Spencer M. Houldin , president of Ericson Insurance Advisors in Boston. “Because of this, most carriers will extend significant credit to those with higher credit scores.”

Avoid claims. If you have had no claims for several years, you may be entitled to a ‘no claims discount’.

Keep in mind that not all companies offer the same discounts, all the more reason to shop around for the best deal. And remember to check in with your insurance agent at least once a year to keep the company informed of any lifestyle changes or alterations to your home. You may even want to check with your agent if you’re considering a move, as location is probably the biggest factor in determining your insurance premium.

“Do your own homework,” Worters said, “but your insurance agent is a good place to find the best ways to save money.”

Robyn A. Friedman has been writing about real estate and the home market for over two decades. follow her @robynafriedman. Send feedback to [email protected]. Subscribe to our free real estate newsletter at pages.email.bostonglobe.com/AddressSignUp. follow us on twitter @GlobeHomes.

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