How to Get Homeowners Insurance Discounts

By the Mercury Team

Owning a home is a dream come true for many people. It’s 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 Bonnie Lee, 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, carport, 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.

Types of Homeowners Insurance 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 discount is 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.
• A 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

Policy Discounts

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.

Mercury Insurance Discounts Available in All States

Mercury makes it easy for homeowners to save money on coverage. No matter where you live, you may qualify for these common property insurance discounts:

Loss Free Discount

The longer you go without filing a claim, the more you save. Homeowners who have stayed claim-free for at least three years can receive a discount of up to 16.4%.

Multi-Policy Discount

Bundling pays off. When you combine your home insurance with another Mercury policy, like auto insurance, you’ll unlock extra savings and enjoy the convenience of managing everything in one place. Depending on where you live and what you bundle, you can get up to 24.2% off your premium.

Fire Protective Devices Discount

Mercury rewards proactive homeowners. If your home is equipped with fire safety tools such as extinguishers, smoke alarms, alarms, or sprinklers, you could qualify for savings of up to 8.5% on your policy.

Theft Protective Devices Discount

Locking down your home could unlock a discount. If you’ve got deadbolts, a burglar alarm, or live in a gated community, Mercury may reward you with savings of up to 2%.

Mercury Insurance Discounts Available in Limited States

Some home insurance discounts are only available in select states and policy forms. Here’s a breakdown of what may be offered:

Water Leak Detection

A small leak can cause major damage, but smart technology can help stop it early. If your home has a leak detection system, whether it’s a point-of-use sensor, a whole-home water flow monitor, or a system with automatic shutoff, you may qualify for this discount in the following states:

• Arizona
• California
• Georgia
• Illinois
• Nevada
• New Jersey
• New York
• Oklahoma
• Texas
• Virginia

New Home Discount

Newer homes typically mean fewer risks and repairs, which can translate into lower insurance costs. If your home is less than 10 years old and you live in one of the states below, you can receive a discount on your homeowners policy:

• Arizona
• California
• Georgia
• Nevada
• Illinois
• New Jersey
• Oklahoma
• Texas
• Virginia

Home Buyer Discount

Mercury offers this discount to new customers who have recently purchased a home. If you bought your house on the date your policy starts (or within the past 12 months), you may qualify for this savings opportunity if you live in one of these states:

• Arizona
• Georgia
• Illinois
• New Jersey
• New York
• Nevada
• Oklahoma
• Texas
• Virginia

Homeowner’s Association

If you live in a neighborhood or condo complex with a homeowners association (HOA), Mercury makes it easier to save in these states:

• Arizona
• California
• Georgia
• Illinois
• New Jersey
• Nevada
• Oklahoma
• Texas

Update Home Discount

Renovations can pay off in more ways than one. If your home is at least 21 years old and you’ve completed permitted work (e.g., electrical, plumbing, or structural updates) within the last decade, we’ll reward you with this discount to reflect the reduced risk. This applies to the following states:

• Arizona
• New Jersey
• Virginia

Green Home Discount

If your home is certified as Green by the U.S. Green Building Council’s LEED for Homes rating system or meets the National Association of Home Builders (NAHB) Green Building Guidelines, you may qualify for savings on your homeowners insurance in these states:

• Arizona
• New Jersey
• New York
• Virginia

Good Payer Discount

Mercury rewards responsible payment habits. If you have no late payments or insufficient funds on your account, you may qualify for this discount. The following states are eligible:

• Arizona
• New Jersey
• Virginia

Digital Discount

Prefer digital over paper? Mercury rewards you for it. When you sign up to get your policy documents online instead of by mail, you could earn this discount as long as you live in one of these states:

• New Jersey
• Virginia

How to Find the Best Homeowners Insurance For You

The best homeowners insurance is the kind that protects your home without stretching your budget. Start by looking at the basics: how old your home is, where it’s located, and what safety features or updates it has. These details play a big role in how much you’ll pay and which discounts you can get.

Talking with an insurance agent can also help you sort through your options and make sure you’re getting the right amount of coverage. Not too much, not too little.

Mercury makes it easy to find a policy that fits. With flexible coverage and plenty of ways to save, you’ll get reliable protection at a price that works for you.

Contact us today for a fast, free quote!