Maintaining and updating your home is important for a variety of reasons, including the prevention of wear and tear from causing damage. What many homeowners don’t know is that updating your home can also save you money on home insurance.
Some basic home upgrades you can perform that can save you money on insurance include:
Roof Repair or Replacement
Your roof is one of the most expensive areas of the home to insure, as it is generally the most expensive and at risk for damage due to hail, storms, lightning, etc. Upgrading your roof to one that is more weather resistant can save you money by lowering the risk of filing an insurance claim due to weather damage. Repairs should be kept up on your roof, as well. If the quality of your roof is not maintained at the time of a claim, you could be denied compensation due to negligence.
Anti-theft and anti-burglary alarm systems can lower the risk of loss from theft and burglaries of your property. Even having a sign in your yard can deter possible thieves. Lowering the risk of loss due to theft and burglary can also save you money on home insurance.
Fire Alarms and Fire Extinguishers
Adding a fire alarm system and keeping a fire extinguisher in your home can also lower your home insurance premiums. Make sure to update your fire alarm system when possible and keep charged batteries in each fire alarm. Fire extinguishers should be kept in areas most needed, such as near the kitchen, garage and fireplace (if applicable).
Doors and Windows
Upgrade your doors and windows with new locks to make it harder for them to blow open or be kicked open. You should also reinforce the seems to seal out water damage.
Keep in mind what your insurance policy covers and doesn’t cover when upgrading your home. Most home insurance policies don’t cover against damage due to flooding and earthquakes. Protecting your home from these dangers is incredibly important, so ask an expert if you’re not sure what upgrades to make to protect your home.
Also ask your insurance agent about possible discounts you may qualify for. All upgrades should be reflected on your policy, so be sure to notify your insurance provider any time you make upgrades. If you don’t, you could find these upgrades not covered on a claim.