It’s unfortunate that people only think of their homeowners’ insurance when they want to file for a claim or a new policy. They never think of the discounts they get to enjoy when they put things in order in their home. Instead, they often leave the money on the table and walk away without looking for means to lower their home insurance rates.
Most insurances agency gives discounts to policyholders who upgrade and improve their home. The improvement reduces the risk of damage and theft, hence slashing their insurance rate by 35%.
This post contains ways to improve your home for a lower home insurance rate. Read on to find out more!
7 Home Improvement Tips for Lowering Your Home Insurance Rates
Get a Fire Sprinkler System and Smoke Detectors Installed
Smoke detectors and fire sprinkling systems may reduce the risk of a house fire. This is enough to earn you discounts from your insurer. The smoke detectors give you about 5% off on your premium, while the sprinkling system makes your 15-20% off your insurance rate.
These home safety measures come in different types, each having more advantage over the other. However, one thing is familiar to them: they detect fire and snuff it out before it becomes ablaze.
Upgrade Your Roof
Although upgrading your roof will cost you big bucks, but on the brighter side, your home is well protected, and you enjoy insurance discounts. It’s necessary to have your roof replaced or repaired. This is because insurance agencies will not claim damage caused by wear or negligence.
Replace Plumbing Pipes and Install Water Shut Off Devices
This can protect your home from water damage due to damaged pipes. If you use steel pipes in your home, you should replace them if they are old and rusted. That way, you enjoy a 6% discount on your premium. The water shut-off system detects water leaks and automatically shuts off the water.
Replace the Deadbolt Locks
Deadbolts are not expensive to buy, neither are they expensive to install. You get to enjoy more for less. First, the case of theft is reduced, you enjoy 5% off your insurance rates.
Install an Alarm System and Smart Home Technology
A home monitoring system discourages intruders from invading your home. Also, innovative technology like video doorbells, gas leak sensors, freezing pipe sensors, and other security accessories may slash your premium.
If you must install innovative technology in your home, it should not be casual technology (like those connected to your shopping list). Instead, it would help if you had those that are security inclined.
Add Storm Shutters
If you live in an area prone to storms, you should get a storm shutter and other hail-resistant structures installed without delay. This will prevent your home from being destroyed by flying debris in the event of a storm.
Upgrade Your Electrical Wirings.
Electrical wiring is one of the significant causes of home fires. Old or poorly installed wiring is terrible for your insurance rate. When you upgrade your electrical system, that means you are well-protected against fire in case of lightning or cable sparks.