The National Association of Insurance Commissioners reported that the average annual premium for homeowners' insurance is $1,192. Of course, home insurance premiums vary significantly depending on a number of factors, such as the amount of coverage, the rebuild value of your home, and even the state and local area in which you reside. If you're spending a considerable amount of money on your premium for your home insurance policy every year, you may be wondering how you can lower your costs. 

This article has more information on how to get discounts for homeowners insurance. 

Multi-Policy Discount 
One way you can get a discount for home insurance is by purchasing multiple types of insurance policies from the same company. This type of discount is called a multi-policy or bundling discount. For example, you can purchase a home insurance policy and a car insurance policy from the same company to qualify for a bundling discount. Another advantage of the multi-policy discount is the convenience of doing business with fewer insurance companies. Before you buy multiple policies from the same insurance company, it is important that you make sure that you confirm that you won't be saving more money by shopping around and purchasing coverages separately. 

Monitored Burglar System Discount 
Another way that you can get a discount for home insurance is by having a monitored burglar system installed. Burglar systems are beneficial because they ward off thieves. Accordingly, a burglar system reduces the likelihood that a homeowner will have to file a claim for stolen or vandalized belongings. Therefore, home insurance companies often give homeowners a discount for having a monitored burglar system. 

In general, any home improvements that improve the security or longevity of your home can potentially make you eligible for discounts because these improvements will reduce the likelihood of you making a claim. 

Claims-Free Discount 
Some home insurance companies give discounts to homeowners who have gone a certain period of time without filing a claim. For obvious reasons, home insurance companies prefer to keep customers who don't file many claims. If you've gone a few years without filing a claim, you should consider reaching out to your home insurance company and asking for a discount. 

As you can see, there are many ways that you can become eligible for a discount for your homeowners insurance policy. 

For more information about how to get discounts for home insurance, don't hesitate to contact us.