Discount amounts vary based on property location (by county) and underwriter. The rationale for a premium discount falls into one of three categories –
- the subject property was previously insured within a certain period of time (examples of this discount category include the Short-Term Rate and the Re-Issue Rate);
- transaction principals fall within certain groups (examples of this discount category include the Builder Rate and the Non-Profit Rate); and
- bundled rate discounts.