Home insurance protects you from financial loss and gives you the resources you need in case you lose your home to a fire or other catastrophic event. With the cost of home insurance steadily on the rise, many homeowners are constantly looking for ways to lower their premiums while still keeping their high-end coverage. There are several things you can do around your home to increase its potential value and, at the same time, decrease the amount of your monthly or yearly premiums.
Proper maintenance is the best way to keep your home in good condition. The more you maintain your property, the less likely it will be to incur damage. A good example here is roof and gutter maintenance. Regular roof inspections will identify any potential problems and allow them to be fixed before a storm passes through. Removing debris from your roof and gutters will prevent moisture from working its way up under the shingles, causing damage from the inside. Inspect your indoor/outdoor plumbing, HVAC, and appliances on a regular basis to ensure everything remains in good working order all year long.
Add a Privacy Fence
Install a privacy fence to keep unwanted pets and individuals off of your property. If you have a swimming pool on your property, installing a 6-foot high privacy fence reduces your liability and can prevent a disaster by keeping children and animals from wandering onto your property and falling into the pool. A solid panel privacy fence also prevents burglars from looking into your property to find any valuables. While a fence may not deter someone who is adamant about gaining entry, the noise they make in doing so is sure to alert someone in the neighborhood.
Install a Security System
Installing a home security system with motion-activated surveillance cameras, video doorbells, home automation, and environmental sensors is a great way to reduce the cost of home insurance. Home insurance cost is dependent on how high the risk of loss is. With a state-of-the-art security system in place, the risk of potential loss due to burglary or an environmental catastrophe is dramatically decreased. The more sophisticated the system, the better off you will be in the event of an emergency. Do it yourself security systems are available, or you can choose to buy a system that can be monitored by a third-party monitoring service. Either way, you can check on your home with an easy-to-download app for your smartphone.
Outdoor Lighting Options
Outdoor lighting will enhance the look of your home as well as add an extra layer of security. Ambient lighting used in landscaped areas close to your home can shine a soft light on windows and doors, preventing burglars from making entry without being seen. Light or motion-activated lights are extremely bright and designed to illuminate a large area. This also works to keep burglars and other unwanted trespassers at bay. Security lights can be placed on your home or garage or on poles to illuminate larger areas away from your home.
Increase Your Deductible
The amount you pay out of pocket for covered losses and damages is known as a deductible. Choosing a higher deductible will decrease your home insurance premium.
Bundle It with Other Policies
Bundling several policies (such as auto insurance policy and home insurance policy) together will help you get a better discount than buying them individually. Also, you can make a single payment for premium rather than paying separately for multiple policies.
Make Your Home Disaster Resistant
Retrofitting your property to withstand earthquakes, adding storm shutters, reinforcing your roof, and upgrading your plumbing, electrical, and heating systems will minimize the damage to your home during a disaster. This will help decrease your home insurance costs.
Pay Premiums in Advance
Sometimes, paying your premiums in a lump sum rather than monthly installments will help you save on your home insurance costs.
Keep a Good Credit Score
A poor credit score may increase your home insurance rates. Therefore, make sure to pay your debts and bills on time to maintain a good credit score.
Remove Unnecessary Coverage
Review your policy periodically to exclude unwanted coverage. For example, if you plan to sell your expensive jewelry or valuable artwork, you can surrender the endorsements required to cover such items, thus saving on your premium costs.
For help securing home insurance, contact our experts at John E. Peakes Insurance Agency. One of our agents will be happy to assist you.