Homeowners insurance in New Jersey can be a bit pricey depending on the different factors that insurers take into account. Fortunately, there are a number of ways that you can lower the cost of your monthly premiums. The following are 5 common homeowner insurance rate discounts:
- Multiple policies - If you use the same insurer for multiple policies, such as auto insurance and homeowners insurance, the insurer will often provide a discount of up to 15 percent.
- Home improvements - Investing in home improvements that help to reduce the risk of damage to your home can help lower your premiums. For example, if you replace the wiring and HVAC system in an old home with newer models, they will be less likely to fail or require repairs or replacement further down the road.
- Home security - Improving your home's security as well as safety, such as by installing an alarm system or building a fence around your pool, can help lower your premiums as well since there will be less of a chance that you'll file a claim due to a burglary or injury.
- Senior citizen discount - Many insurers will provide discounts to senior homeowners because they tend to spend more time at home - reducing the risk of theft and burglary.
- Credit score - The better your credit is, the less likely you'll be to file a claim.