5 Home Improvements That Can Lower Your Home Insurance

5 Home Improvements That Can Lower Your Home Insurance

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Did you know that there are many improvements that can be made to your home that can drastically lower your home insurance rates? With a few small changes to your home, you could potentially save thousands of dollars over time on your home insurance. By making small improvements to your home that reduces the risk that your insurance policy providers take on and therefore will lower the cost to you. Many of these additions will be things that you should consider adding to your home anyway, as they reduce the risk to you in your daily life or substantially improve your home.

A few ways that you can lower the cost of your home insurance cheaply and effectively include;

Install Alarm Systems

Installing alarm systems helps to keep intruders out of your home, and therefore lowers your overall price. The installation of these types of systems, or even adding a few deadlocks onto the entrances of your home, reduces the chances of unwanted individuals coming into your home and causing damages, which reduces the risk to the insurance company. Insurance companies often will offer as much as a five percent reduction in cost for your policy when you install alarm systems, but that can vary between companies, with even bigger discounts available for more powerful alarm systems.

Replace Windows With Shatterproof Windows

One of the most common ways in which burglars enter homes and cause damage, is through windows. Installing shatterproof windows can keep them from using them as entrances, and reduces the overall risk to your home. Windows can also break during severe storms, or accidentally become damaged, which drives up the cost of home insurance. By installing shatterproof windows, you are limiting the possible risks that the insurance company has to account for, and will allow you to lower your costs.

Update Wiring

One of the biggest risks to homes is fire as a result of outdated or faulty wiring. Not every insurance company is able to examine the quality of your wiring installation in your home prior to granting you a policy, so the risks associated with faulty wires are factored into the pricing of your plan. However, updating wiring can lessen the chances of wiring issues that commonly plague homes, and allow you to see as much as a 15 percent reduction in your homeowners costs. Keep in mind that wiring in homes should be updated, at minimum, once every fifteen years.

Motion Detection and Outdoor Lighting

Motion detecting lights can be an excellent deterrent for those that are looking break into or cause damage to your home. As a result, because of the reduced risk, you may be able to secure a lower rate by installing motion detection. Remember to give your insurance company a call before installing, so you can be certain that they will grant you a lower overall rate.

Heating System Updates

Old, outdated heating systems can be upgraded for a lower insurance rate as well as providing a number of other benefits. A new system or upgrade to your old system will be much more energy efficient and is less likely to cause fires and other expensive damage that is often factored in by insurance companies. Speak with your insurance provider about the rate reduction prior to paying for the update, but take into consideration the fact that upgrading your heating system provides other benefits other than just reductions in insurance rates.

Roofing

There are also a number of additions or changes that you can make to your roofing that can result in lower insurance costs. When you go to replace your roof, look into impact resistant materials that can deter damage from falling debris during storms. Speak with your insurance company about which roofing types make you eligible for a lower rate, and the size of the discount the installation or addition to your roof would create.

These are a few, relatively cheap and efficient ways to save money on your home insurance while improving your home in the long term. In general, reducing the risk that an insurance company is exposed to, in the end, results in lower, more manageable rates for you.

Author Bio: Noel Finlay works for HomeownersInsurance.net a company that provides information on home insurance.

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