Homeowners in Broomfield, Colorado, pay an average home insurance rate of $1,644. It is comparatively higher 9than the national average premium of $1,438. Broomfield homeowners can use discounts offered by home insurance companies to further reduce their home insurance rates. Below are some of the discounts offered to Broomfield homeowners.
Newly constructed Broomfield homes can avail of discounts up to $460 on homeowners insurance. New homes have a low propensity to damage. As a result, home insurance companies offer substantial discounts to newly built homes. On the other hand, older homes attract higher insurance rates. Broomfield homes older than 40 and 50 years receive an additional charge of $43 and $79, respectively, on home insurance.
Home insurance companies consider the lifestyle of homeowners to determine insurance rates. If all the household residents are non-smokers, insurance companies offer special discounts on home insurance rates. Broomfield homeowners who own a swimming pool attract an additional insurance cost of up to $99. Installing a fence around the pool with self-latching and self-closing gates will help homeowners get discounts from home insurance companies. Additionally, senior citizens in Broomfield also receive discounts on home insurance.
Although most of the factors to avail discounts are not under the purview of homeowners, they can benefit most by choosing deductibles to reduce home insurance rates. Homeowners can avail of attractive discounts by opting for higher deductibles. Broomfield homeowners paying a high deductible of $2,500 can avail a discount of $463 on homeowners insurance. Homeowners receive discounts of $388 and $260, respectively, on deductibles of $2,000 and $1,500. Broomfield homeowners save an average of $1,200 on a high deductible of $3,700 compared to a standard deductible of $1,700 for a lock-in period of 8 years.
Home insurance companies provide discounts to homeowners who have a claims-free history. In contrast, homeowners with prior claims can attract an additional charge on their home insurance premiums. The cost of home insurance in Broomfield increases by up to 44% based on the nature and number of claims. Broomfield homeowners who have a history of two fire claims and two water claims attract an additional charge of $690 and $542, respectively.