Insurance Discounts and Savings for Homeowners

How it works

The New York State Department of Financial Services says homeowners may be eligible for discounts on homeowners’ insurance if they take steps to reduce risk. The page encourages homeowners to ask their insurer or broker what savings may be available and to review the policy for discount details.

What the money covers

The page lists several categories of possible discounts tied to home hardening or loss prevention measures, including theft prevention measures, fire prevention measures, water damage prevention measures, earthquake/lightning/other peril prevention measures, and roof-specific reinforcements. It also says insurers must provide discounts for hurricane-resistant shutters and hurricane-resistant windows and doors.

Amounts and matching

No dollar amount is stated on the official page. The page says discounts depend on the insurer and the qualifying improvement.

How to apply

Homeowners are told to contact their insurer or insurance broker and to let them know about recent improvements or mitigation measures installed. The insurer may need to verify that the materials and installation meet the requirements for a discount.

Timing and deadlines

No program deadline is stated on the page. The savings are described as an ongoing insurance feature, subject to the insurer’s rules and the policyholder’s qualifying improvements.