Insuring your home properly is important because it’s your largest personal asset. Insuring your car properly is important because driving a car is one of the most dangerous things we do each day. Today many companies focus on price and saving you money; however, it’s important to remember that if you focus only on price, you may be underinsured or your policy may be missing some important coverages.
These discounts on the home portion of the Home and Highway policy can also add up to significant savings!
In this blog, Kim Bechler, West Bend Personal Lines underwriter, shares valuable information about West Bend’s Home and Highway® policy discounts.
- Good Student Discount – Many parents know adding a young driver to a policy can be expensive. West Bend, however, can apply a good student discount to your auto premium if you have a child between the ages of 16 and 24, who’s a full-time high school, college, technical college, or university student maintaining a “B” average or a 3.0 GPA on a grading scale.
- Graduate Student Discount – This discount can be applied to drivers ages 21 to 24 who’ve graduated from college, technical college, or university with a cumulative GPA of 3.0 or higher.
- Resident Student Discount – This discount is available to a youthful, unmarried male or female driver who’s a full-time student and who principally resides at an educational institution (the auto cannot be with them).
- Multi-Car Discount – If we insure more than one vehicle on your Home and Highway policy, we’ll apply a discount to these auto coverages for each vehicle insured: bodily injury, property damage, medical payments, comprehensive, and collision The discount will also apply if the person(s) named as the insured(s) on the policy regularly uses a company vehicle that’s kept at the home.
- Home Ownership Discount – If you own a home or condominium, you’ll automatically receive an additional discount on bodily injury, property damage, medical payments, and comprehensive, and collision coverages on your personal vehicles.
These discounts on the home portion of the Home and Highway policy can also add up to significant savings!
- New Home Discount/Age of Home Rating Factor – The premium for a Home will vary based on the age of the home. For homes that are 25 years old or less, some amount of discount will be applied to the homeowners premium.
- Protective Device Discount – Your home is eligible for additional discounts if it has protective devices like a local burglar/fire alarm, police station reporting burglar alarm, fire department reporting fire alarm, central station reporting burglar or fire alarm, limited sprinkler system, or any sprinkler system. These discounts are applied after the protective devices are verified.
- Hail Resistive Roof Discount – This discount can be applied to homes that have qualified hail-resistive roof material, such as UL 2218 Class 4 material or FM 4473 Class 4 material. Most roofs that are steel/metal will qualify for this discount.
- Umbrella Coverage Discount – If you purchase a personal liability umbrella policy as part of your Home and Highway package policy, there will be some discount on the home base rate.
Do you have any tips or information you’d like to share? I’d love to hear from you. Please share them in the box below.
This article is intended for general educational and illustrative purposes only and should not be construed to communicate legal or professional advice. Further, this article is not an offer to sell insurance. Please consult with your licensed insurance agent for specific coverage details and your insurance eligibility. All policies are subject to the terms, conditions, limitations, definitions, and exclusions contained therein.
