In Milpitas,California, homeowners pay an average home insurance rate ranging between $554 to $752. Milpitas homeowners can use discounts offered by home insurance companies to reduce their home insurance rates. Below is a list of the discounts provided to Milpitas homeowners that they can take advantage of to save on home insurance.
Newly constructed Milpitas homes can avail of discounts of up to $370 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. Milpitas homes older than 40 and 50 years receive an additional charge of $38 and $71, 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. Milpitas homeowners who own a swimming pool can attract an additional insurance cost of up to $89. Installing a fence around the pool with self-latching and self-closing gates will also help homeowners get discounts from home insurance companies. Additionally, senior citizens in Milpitas 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. Milpitas homeowners paying a high deductible of $2,500 can avail of a discount of $417 on homeowners insurance. Homeowners receive discounts of $349 and $234, respectively, on deductibles of $2,000 and $1,500. Milpitas homeowners save an average of $1000 on a high deductible of $3,600 compared to a standard deductible of $1,600 for a lock-in period of 6 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 Milpitas increases by up to 44% based on the nature and number of claims. Milpitas homeowners who have a history of two fire claims and two water claims attract an additional charge of $621 and $488, respectively.