Owning a home is a dream come true for many people. It is also the largest investment a majority of consumers will make in their lifetime, which means it is important to protect it with insurance in the event something unexpected happens.
“Your home is likely your most valuable asset, so keeping it protected is a priority,” said Christopher O’Rourke, vice president of property claims at Mercury Insurance. “Staying proactive about protecting your home not only helps keep your family and belongings safe, but can save you money on your homeowners insurance, too.”
Homeowners insurance covers losses or damages to a house and the belongings inside, as well as other structures on the property that are not attached to the home, such as a fence, car port or tool shed. It also provides liability coverage in the event visitors suffer injuries within the home or on the property, and it could extend to events off the premises as well. Additional coverage options can be added to your policy, such as home systems protection to cover appliances and electronics, or service line protection that can cover the underground pipes or wires that provide service to your house.
It’s essential to make sure you have the right type and amount of homeowners insurance coverage. Your insurance agent can help you make sure you’re covered, and can also help you discover if you’re eligible for any discounts.
The current homeowners insurance discounts available for Mercury Insurance policyholders fall into three categories:
Home Safety Discounts
Receiving a discount on your homeowners insurance can be as straightforward as taking note of the features your home already has, or simply installing devices that can help protect your home.
- Fire protective device discount is applied to homes with one or more of the following protective devices is installed and active within the home:
- Fire extinguisher;
- Smoke alarm;
- Fire alarm;
- Sprinkler system.
- Theft protective device discountis applied to homes with one or more of the following protective devices is installed and active within the home:
- Dead bolts;
- Burglar alarm;
- Location within a gated community.
- Water leak detection discount is applied to homes that are equipped with a qualifying automatic water shut-off system and/or a system that notifies a third party when a leak is detected;
- New home discount is available to policyholders whose dwelling was built fewer than 10 years prior to the effective policy date;
- Homeowners association discount is applicable to dwellings or condos belonging to a homeowners association.
Wildfire Mitigation Discounts
You may be eligible for discounts for protecting your home if you live in an area prone to wildfires.
- Wildfire mitigation - property level discount is applied to policyholders whose home meets a combination of defensible space and home-hardening requirements;
- Wildfire mitigation - community level discount is available to homes located in a community that meets one of the following criteria for mitigating wildfire risk:
- Recognized by the Firewise USA Recognition Program;
- Designated as a shelter-in-place community;
- Has community-wide active annual fuel mitigation efforts in place.
Your homeowners insurance provider may offer you additional discounts depending on the type of insurance policies you hold with them.
- Loss free discount is applied to policyholders who have not had any loss claims for three or more consecutive years prior to the policy effective date;
- Multi-policy discount is available to policyholders who have one or more additional insurance policies with Mercury Insurance, such as auto or California Earthquake Authority.
Having an underinsured home can have costly consequences. Talk to your insurance agent to make sure you’re getting the right type and amount of coverage – they can also help you check for applicable discounts, providing you with extra savings on your homeowners insurance.