During this recession, everyone is looking for ways to save money by either lowering their costs or eliminating some expenditures. Home insurance is one of those expenses that doesn’t necessarily attract attention until it’s needed. Many homeowners have their yearly payments put into escrow and pay little mind to the actual premium cost. Others may receive annual billings and simply write a check, never giving the expense a second thought.

Insurance companies want their consumers to be proactive in keeping costs down by lowering risks. Some home improvements can lower premium costs for homeowners and reduce risks for your insurance company. The following suggestions represent a discount of anywhere between 5 to 20 percent off of your premium:

• Home alarm systems - Protecting your family and home is a top priority. Installation of an alarm system can buy you peace of mind - and savings from your insurance company. The sophistication of the system will determine your savings. Even installing deadbolts on entrance doors can foster an insurance discount.
• Impact doors and windows - Unlike standard glass, glass in impact-resistant doors and windows breaks into pieces that adhere to a shatter-proof plastic film that lies between two layers of glass. This not only protects against injury from large shards of broken glass, but also makes entry by a would-be burglar extremely difficult. Additional pluses: these windows/doors are energy efficient, block nearly all ultraviolet light and significantly reduce outdoor noise.
• Outdoor lighting - Motion sensor lights can lend security to your home and be cost-effective. These lights reduce your risk of home break-ins and save on electricity, since they are only activated when someone or something approaches it. A risk-reducer, their installation should lower your home insurance rates.
• Revamping electrical and plumbing systems - Depending on the age of these systems, updating them offers usage savings, as well as cutting the cost of your homeowners insurance. Suggested time for upgrading is every 10 years.
• Smoke alarms - These alarms can save both money and your life. It’s important to be sure alarm batteries are powered and working. Changing the batteries twice a year when changing the clocks from standard time to daylight savings time and back again is a good practice to adopt. Insurance premiums can also be reduced if homeowners keep a fire extinguisher on each floor of their home.
• Revamping heating/cooling systems - Here is another 1-2 punch for energy and premium rate savings. A new, energy-efficient furnace is going to save on your utility bills, so that’s money in your pocket. Newer systems not only run more efficiently, they also pose less of a threat of overheating and causing a fire.

One or all of these home improvements can offer you and your family home comfort and financial savings. Contact your insurance carrier to see where you can begin to lower your home insurance premium costs.

TALK BACK: Have you experienced insurance savings with any of the above home improvements? Do you have any other suggestions to reduce the cost of homeowners insurance? Post your comments below.

Posted by Sharon Walker

Tags: home improvement savings, reduce homeowners insurance

This entry was posted on Friday, July 10th, 2009 at 6:00 am and is filed under Home Improvement, Home Maintenance, Homeowner Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.