Homeowners are Wising-Up to the Benefits of Home Insurance Discounts

Homeowners across the country are beginning to take advantage of many of the discounts and bundling incentives that insurance companies are offering- saving anywhere from 10-30 percent or more on their homeowners insurance.

Wilmington, N.C. - With the current state of the economy, more home insurance customers are turning to insurance companies who offer bundling, home security and home safety discounts to outweigh the rising cost of homeowners insurance.

Home Insurance rates have steadily increased over the past 5 years with forty-two percent of homeowners reporting a premium increase in 2008. Catastrophic storms making landfall in the U.S. are mostly to blame and have caused many insurance providers to increase rates or decline coverage in coastal/storm-prone regions.

With the unemployment rate at a 40-year high and the mortgage crisis among us, homeowners under strain from the current economic slump are feeling the affects of insurance rate hikes now more than ever.

A 2008 study by J.D. Power and Associates shows that satisfaction levels among home insurance customers has flat-lined over the past 5 years in a direct correlation with rising home insurance rates. Further, data from a 2008 poll on HomeInsurance.com reported that 91 percent of respondents were unaware of what discounts they were taking advantage of on their homeowner’s policy- if any at all.

However, as homeowners grow more aware of the benefits of home insurance discounts, satisfaction levels may increase. For example, in the same 2008 J.D. Power and Associates study, customers who bundled their policies reported being more satisfied with their homeowners insurance.

“Bundling home and auto insurance policies with one company often allows homeowners to save 10-30 percent on their homeowners policy” said Carlos Lagomarsino, CEO of HomeInsurance.com. “It’s really a no-brainer”.

In addition, homeowners are now asking for home security and home safety discounts. Additional savings of 10-15 percent are often awarded to homeowners who have deadbolts, home security systems, fire alarms and/or fire extinguishers.

“In order to take advantage of all available discounts, we recommend that our customers speak with a live consultant who can offer expert advice and qualify them for discounts in their area before purchasing a policy”, said Jana Bell, Senior Managing Partner of HomeInsurance.com. “Between October and December 2008 alone, we were able to save our customers $556 on average by bundling their home and auto insurance with one company.”

For a list of some common home insurance discounts visit: http://homeinsurance.com/articles/home-insurance-discounts.php.

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Homeowners are Wising-Up to the Benefits of Home Insurance Discounts

Media Inquiries Please Contact:
Carrie Van Brunt, Managing Partner: Marketing and Public Relations
910-452-1000 x 1043
cvanbrunt@homeinsurance.com