10 hidden home insurance credits
Mature insured: Age has its privileges
Home insurers love retired customers because they tend to spend more time at home, where they might be able to detect a home hazard in the making -- a gas leak, pipe break or smoldering electrical panel -- and avert a disaster.
If you or your spouse are 55 or older and retired, and your home is your permanent residence, you may qualify for a mature insured credit.
"There is some data out there to support that people who are retired and therefore home more are able to avoid loss or identify loss sooner," says Meehan. "During the day, if you're working and have a pipe break, you won't know it until you get home. But if there is someone home at the time, they go, 'Oh, pipe broke,' call people, boom; the loss is minimized. It's a five-minute water run versus a five- or six-hour water run. You're mitigating the loss immediately."
Retired or 55+ credit: 10 percent to 25 percent.