Every year homeowners explore new ways to keep their premiums low and get the best coverage options out of their policies. While some may look at bundling new or existing services, or simply raising their deductible, there are more substantial measures you can take to keep those rates low for years to come. We call it preventative homeowner measures, and they can do wonders for homeowners that want to get the most out of their insurance coverage at the lowest cost possible. All wise homeowners investigate some form of preventive homeowner measures, and each year they choose certain projects to focus on based on their budget. You too can make similar decisions that will positively impact your property. Here are some of the top preventative homeowner measures we recommend and why.
Why Preventative Homeowner Measures?
Let’s say your car has a tire that’s a little low on air. You wouldn’t simply hope for the best and continue to drive on it long term. No you’d stop by the gas station and fill it up so you don’t get a flat. The same goes for homeowners insurance, but it can be much more complex than just a flat tire. Insurance companies are in the business of evaluating risk. If you can mitigate some of that risk and prove it to them, they are prone to give you a better rate since you’re less likely to file a claim. Now chances are you won’t have the budget or the time to get these all done at the same time, but you can plan and evaluate what will make the biggest impact for you, and focus on those this year while scheduling others for later years.
We recommend checking with your insurance agent before moving forward with these measures just to make sure they’ll lower your insurance premiums. You should also ask your agent the best ways to prove to your insurance carrier that these preventative homeowners measures have taken place. You can Contact Us at Square State Insurance with any questions you have on these upgrades to your home.
Security Systems
Theft is a big risk for any homeowner, and the insurance companies are well aware of this. Anything you can do to lessen or prevent this risk will almost certainly help your rates. The easiest way to do this is install a security system. You can start small with reinforced windows and doors and deadbolts, but the most savings will come from installing a monitored home security system. These days certain companies even allow you to bundle home security solutions with other services like internet and cable, which is well worth looking into if you’d like to lower your premiums while maximizing savings. In many cases the investment in a security system with its monthly payments may be more cost effective than the higher insurance premiums you’d be getting without it. Of course you can’t overlook the added safety it will provide for you and your family.
Fences
Adding a fence to an otherwise open portion of your yard may seem inconsequential, but it can have a big impact on the value of your home and your insurance rates. Fences often improve the value of your home, especially if they are well-built wooden or composite fences. Secondly and just as importantly, a fence creates a barrier that keeps potential insurance claims from entering your yard. For example, say you have a pool in your backyard that might attract unwanted swimmers like the neighbors. Ensuring there is no easy access to it will help your insurance rates.
The same goes for keeping things in your yard from getting out. The family dog surely loves you and would do you no harm, but you can’t quite be sure with others that come on your property, especially when you’re not around. A fence will keep your dog from getting out or well meaning visitors from getting in to pet your dog. While a fence can be a substantial investment depending on the size of your house, it is worth investigating long term for many reasons.
Storm Protection
Storms are another big cost for homeowners and insurance companies alike. Doing all you can to protect against storm damage will positively impact your insurance rates in the coming years. Storm doors and shutters are a great upgrade to your home that won’t only protect it from damage should the skies turn dark, it will also lower your insurance premiums. Those who live in high risk areas can go a step further and add reinforced roofs and reinforced structures to ensure you home will weather the worst Mother Nature can conjure. In your basement, a sump pump can protect against steady rainfall that results in flooding, and it will save you a bit on your premiums as well. As an added benefit, all these preventative homeowners measures, especially roof and structural reinforcements, will improve the value of your home.
Final Thoughts On Preventative Measures
Preventative homeowners measures can be tough to consider for some as they require a big investment up front. If your budget is tight, many of these items may not make sense for you at this time. This said, you can budget for them in the future with the end goal of adding value to your home and reducing your insurance rates at the same time. Just remember, depending on your insurance company, none of these upgrades are a sure thing to lower your rates unless you talk directly with your agent. We’re happy to answer any questions you have as well as evaluate potential savings, so Contact Us today to get started for 2018 and beyond!
