Investing in your home’s security and safety, whether you’re 25 or 55, is a necessity. Retirement may make paying for a homeowners policy a little difficult. However, there are many ways to save on homeowners insurance without compromising the coverage you need.

Here are four retiree benefits that can help you save money on your homeowners insurance.

• • • Mature Credit

      One of the major benefits of being a 55 or older retiree is that your insurer will likely provide you with a discount of up to 25 percent if your home is your permanent residence. This may also work in the case of your spouse, who is 55 years or older and retired. Insurers provide this discount as stay-at-home retirees are likely to pay more attention to maintaining the house in good condition and may be able to detect hazards such as gas leaks and electrical fires before they cause substantial damage to the property. They are hence more likely to mitigate the damages, decreasing the probability of claims.

    • Claims-Free Discount

      Homeowners with a spotless claims record remain attractive to insurers. You could get a premium discount of up to 20 percent if you haven’t filed homeowners claim in ten years. Another way to keep up a good reputation with an insurer is to stick with them and pay premiums on time, either monthly or yearly.

    • Gated-Community Credit

      Living in a gated community greatly reduces the risk of theft and vandalism due to additional security. Your insurers might find this appealing and be willing to give you a credit of up to 20 percent for it. However, it is worth noting that the cost of your homeowners insurance is greatly impacted by your location and the crime rate there.

    • Homeowners Association Credit

      Due to the many requirements set forth by a homeowners association for the safety and security of the house, insurance companies may view your home as safer and less risky if you are a member of such an association. In such cases, insurers might be willing to grant you a credit of up to 10 percent. In addition, having smoke detectors, a home security system, or storm shutters (depending on where you live) installed in your house may result in significant savings on your homeowners policy.

Review the Cost of Your Current Insurance Policy

Finally, the time has come to ask your insurer about how much credit you are qualified for and review the cost of your premiums for your current policy. If you have an older policy with an integrated escalating value clause, your premiums might keep going up, and you might eventually find yourself paying for more coverage than you actually need. A new policy purchase might be the best course of action in such circumstances.

Have Your Home Adequately Covered with McCarty Insurance

Contact our experts here at McCarty Insurance today to learn more about your eligibility for any of these perks on your existing homeowners policy. We can also assist you in finding the most affordable homeowners coverage tailored to your specific requirements.