There are many different types of home insurance discounts available for homeowners. Home insurance can be expensive, so it’s important to find the discounts you may qualify for.

Keep in mind that discounts offered vary depending on your insurance provider. Ask your insurance agent about the discounts they offer and which ones you may qualify for. Below are some common home insurance discounts and how you may qualify for them.

Multi-Policy Discount

A multi-policy discount comes when you bundle multiple insurance policies with a single insurance provider. The most common way to do this is by bundling a home insurance policy and an auto insurance provider. Most of the time, this can save you money on home insurance premiums and allows you to conveniently have multiple policies in one place. Bundling home and auto can save you over 19% on your home insurance premiums. Compare rates in your area to make sure you are getting the best deal on both your home and auto insurance policies.

Loyalty vs New Client Discount

These discounts are essentially opposites. A loyalty discount is a discount your insurance provider may offer after you have remained with the company for a certain amount of time—usually a few years. On the other hand, a new client discount is a small discount that insurance providers may offer when you first switch over to their services from a competitor. Loyalty discounts can save you 5% or more (around $93 a month) on home insurance.

Claims-Free Discount

Insurance providers don’t want to pay claims. That is why they charge more for insurance from homeowners that are more likely to file a claim. If you go a certain period without filing a claim, you may be rewarded with a discount. This is comparable to the “good driver” discount available for some car insurance policies.

House Upgrade Discounts

You can also earn discounts by making simple maintenance improvements on your home. This ties in to insurance providers not wanting to pay out for claims. The more weather-resistant your home, the less likely you are to file a claim. You can make repairs and upgrades on your home to save money, such as:

• Reinforcing doors and windows
• Installing an impact-resistant roof
• Improving siding and foundation
• Improving and maintaining drainage systems
• Updating door and window locks

Improving your home can also lead to less claims, which could earn you a claims-free discount.

Safety Measures Discounts

Another way you can change your home to save money is reducing the likelihood of a break in, burglary, theft and fire. You can do so by purchasing:

• Burglary alarm system
• Updated sprinklers
• Fire alarm system
• Improved fencing
• Fire extinguisher

Not only do these improvements add to the safety of your home but notifying your insurance provider of these changes can earn you a discount. Making your home more fire resistant can save you almost $200 on home insurance

Payment Discounts

In some cases, the way you pay for your home insurance can save you money on your premiums. Some insurance providers offer discounts if you pay in full, such as paying your premiums in a lump sum as opposed to monthly installments. You should also ask if your insurance provider offers discounts for setting up an auto draft. A lot of times, setting up your premiums to automatically draw from your bank account can cut out hidden administrative fees. It also makes it easier to pay on time and prevents accidentally missing out on a payment.

Newly Constructed Home Discounts

If your home is brand new, you may be able to save money on home insurance. This is especially useful, as purchasing or building a new home can be quite expensive. New homeowners can save around 20% to 25% on home insurance when they insure a brand-new home. Keep in mind that this type of discount depreciates over time. Still, it’s useful when you’re trying to save money right after moving.

Make sure to notify your insurance provider of any and all changes made to the home, including upgrades and improvements. In some cases like above, improvements can save you money. On the other hand, cosmetic improvements can increase the value of your home which may affect the amount of home insurance you need. Although you want to save money on home insurance, it’s just as important to make sure you have the right amount for your home. This way, you won’t have an insurance claim denied or have to face expensive repair costs out of pocket after an accident or disaster.