In Decatur, Illinois, homeowners pay an average home insurance rate ranging between $613 to $832. Decatur homeowners can use discounts offered by home insurance companies to reduce their home insurance rates. Below is a list of the discounts provided to Decatur homeowners that they can take advantage of to save on home insurance.
Newly constructed Decatur homes can avail of discounts of up to $266 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. Decatur homes older than 40 and 50 years receive an additional charge of $26 and $47, 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. Decatur homeowners who own a swimming pool attract an additional insurance cost of up to $59. 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 Decatur 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. Decatur homeowners paying a high deductible of $2,500 can avail of a discount of $278 on homeowners insurance. Homeowners receive discounts of $232 and $156, respectively, on deductibles of $2,000 and $1,500. Decatur homeowners save an average of $600 on a high deductible of $1,700 compared to a standard deductible of $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 Decatur increases by up to 44% based on the nature and number of claims. Decatur homeowners who have a history of two fire claims and two water claims attract an additional charge of $414 and $325, respectively.