How to Get a Home Owner Discount on Car Insurance

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To get a homeowner discount for your car insurance policy, you must first own a home. Your home is a strong bargaining tool when it comes to reducing the cost of your car insurance. Insurance companies give homeowners lower rates because they exude stability. Home ownership requires a lot of responsibility, and insurance companies are looking for responsible people to insure because a responsible person is less likely to cause an accident or file a claim. In addition to saving on your car insurance costs by asking for a homeowner’s discount, you should also inquire about bundling your homeowner’s insurance with the company you already use for car insurance, as this can save you a lot of additional money in the long run.

Provide Proof of Home Ownership

Many insurance carriers require proof of home ownership in order to receive the home discount. The discount is significant and insurance carriers want to verify the discount is being applied properly to the qualifying candidates.

Qualifying Proof of Home Ownership

  • Copy of your homeowner's insurance policy
  • Home tax statement
  • Mortgage coupon

How to Add a Home Owner Discount

If you were not a homeowner at the time you purchased your car insurance policy; you will need to request the discount be added once you do own a home. The best advice is to look for a home insurance policy with your car insurance. In doing so, you will not only receive the homeowner discount but also the multi-policy discount. Make sure to check with your insurance agent or carrier to verify quotes and discounts.

The homeowner discount is easy to obtain as long as you own a home. It is also easy to overlook if you are not aware it is available and your insurance agent isn’t paying attention. Make sure to double check your list of discounts and call your insurance agent or representative to review your discounts for accuracy.

Consider Buying More Coverage

Now that you are a homeowner, you have more significant assets to your name than you did as a renter. Unfortunately, this also means that if you are in a wreck and the damage exceeds what your insurance will pay, the aggrieved party can come after your home. To avoid letting this terrible thing happen, consider raising the amount of bodily injury coverage you have.