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Five Homeowners Insurance Discounts You May Qualify For 

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With Florida homeowners insurance premiums being the most expensive in the nation (and continuing to rise), finding ways to save money without compromising comprehensive coverage can be a challenge. Fortunately, there are many ways you can qualify for homeowners insurance discounts in Florida. 

Most discounts are offered by insurance carriers due to their ability to mitigate risk – in other words, reduce the chances of a loss occurring and a claim being filed. The following five aspects of your home could qualify you for a premium discount. 

New roof or roof style 

Having a new roof or a hip roof (or both) can help reduce your insurance premium. Newer roofs are more resistant to damage, as are roofs built in hip style, with little or no overhanging edge that could be caught by an updraft of wind and torn loose.  

Additional benefit: In some cases, impact resistant roofing can even qualify for a discount – as can other upgrades, like impact resistant glass in windows and other “house hardening” upgrades. 


Fire safety precautions 

Outdated wiring is obviously a fire hazard, so many carriers offer lower premiums if the home being insured has the latest, safest electrical wiring. Smoke detectors hooked into a monitoring system can also provide a potential discount. 

Additional benefit: Living close to a fire department can also be an advantage. The likelihood of a fire being put out rapidly may lead to less damage, which can result in a lower claim. 


Security systems 

Theft is the cause of many losses, especially around the holidays. Having a security system in place deters burglars, and can reduce your risk of being burgled – according to a study conducted by UNC Charlotte, home security systems are a theft deterrent: 60% of burglars will reject a house as a target if an alarm is present. 

Additional benefit: If your home security system is backed up with monitoring, even better – having a response to a break in can significantly reduce the chances of major loss from theft. 


Community awareness 

Both neighborhoods with homeowners associations and communities that are gated can result in benefits to residents’ pocketbooks when it comes to homeowners insurance premiums. It falls under risk mitigation, as burglars are more likely to target homes in less monitored neighborhoods. 

Additional benefit: If you live in a neighborhood where neighbors look out for one another, they are likely to notice if smoke is seeping from a window, or a suspicious person is hanging around. 


“Preferred” homeowner 

If your house is new, you are a new policyholder, or you’ve been insured for years without ever filing a claim, you may end up being perceived as a preferred homeowner and receive discounts based on one or more of the above factors.  

Additional benefit: If you can manage to pay your entire year worth of premiums in one payment, some carriers will provide a hefty discount – and you won’t have to worry about another bill until next year.  


Ask your agent if there are any other premium discounts you may qualify for, or things you can do to help qualify you for a discount. However, make sure you don’t trade comprehensive coverage for a lower premium – with homeowners insurance you do get what you pay for. 


About Olympus Insurance Company 

Headquartered in Palm Beach Gardens, FL and founded in 2007, Olympus Insurance Company specializes in Florida property insurance. Through its independent agency force, Olympus insures $45 billion worth of residential and investment property including homes, condos, rental property, and valuable personal property, with umbrella coverage and Spartan Enhanced Coverage available. Coverage for individual risks up to $5 million in total insured value is provided on one of the most comprehensive coverage forms in the industry. 

For more information, visit olympusinsurance.com. 

This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.

Olympus Insurance is licensed by the state of Florida. Information found on this site is intended for Florida residents only.