Saving money on homeowners insurance
From bundling and building materials to discounts for new homes and protective devices, Farmers® offers so many ways for homeowners to save on insurance. Discounts vary by state and the policy you choose, but with so many options, you can combine multiple discounts to maximize savings.
Common home insurance discounts with Farmers
Homeowner discounts and savings
Affinity
If you work in a qualifying profession, have a qualifying degree, or are a member of the armed forces (active duty, reserves, retired or honorably discharged), you may qualify for an affinity discount.
Preferred payment
If you pay your premium in full or in two installments or sign up for a monthly pay plan with automatic payment, you may be eligible for a discount.
Bundling
You can save 10% or more by bundling home and at least one other qualifying Farmers policy, such as auto, life, umbrella, small business or specialty. Learn more about bundling insurance.
Claim free
Earn a discount for being claim free for three consecutive years.
ePolicy
Save money (and trees!) by enrolling in ePolicy and accepting the Go Paperless terms and conditions.
Good payer
Available for customers who pay their bill on time.
Farmers GroupSelect®
Group insurance with special savings and discounts for employees and members of participating businesses or associations. Learn how others saved hundreds by switching to GroupSelect.
Rent to own
If you’re a current renters policyholder (for more than one year) and you buy a home, you may be eligible for a discount if you switch to a Farmers home policy.
Home features
Connected home
If your smart home system allows for remote monitoring and control, you may be eligible for a discount.
Home safety
Homes with:
- Plumbing leak detection and shutoff devices
- Automatic gas shutoff
- Windows, walls, roof or foundation fortified against natural disaster
Green Certifications
Homes built with approved certifications, including:
- ENERGY STAR®
- LEED
- EPA
New home
Ask an agent for discount options if your home is less than 14 years old.
Protective devices
Homes with:
- Fire alarm
- Security system
- Internal sprinklers
UL-approved roofing materials
Homes with asphalt or fiberglass shingles approved by UL.
How increasing your deductible can help you save
When you choose a higher deductible, it means the insurer is taking on less of a financial risk, which allows them to offer lower premiums. A homeowner with a $5,000 deductible will pay a lower premium than someone with a $1,000 deductible.
But when you increase your deductible, you’ll also pay more out of pocket if you file a claim. And you’ll have to pay the deductible each time you file a claim. (Example: if you file a claim for winter storm damage, then another for a burglary in the spring, you pay the deductible for each claim.) Ask your agent or get a quote online to find out how changing your deductible could impact your rate.
Before increasing your deductible, consider:
- What you can afford. You should be able to reasonably afford your deductible now and in the future.
- How often you file claims. On average, home insurance claims happen about once every 10 years. Your premium savings can add up if you don’t file a claim for several years.
- Your emergency fund. The premium savings of a higher deductible may be worth it if you have a healthy emergency fund.
* Savings based on customers that switched their AUTO AND HOME to Farmers