Save Money With Lower Home Insurance Rates!

Save Money With Lower

Home Insurance Rates!

How Renovation Can Help You Save on Homeowners Insurance

Home renovation offers an opportunity to beautify your home and enhance comfort and resale value. But it can also provide an additional benefit that many people don't think about —saving on homeowners insurance. In order to do so, consider the following questions when approaching your home improvement plans:

Can I add systems that make my home more secure? While you're renovating or remodeling, consider installing such things as state-of-the-art smoke detectors, carbon monoxide detectors, shatter-proof windows and dead bolt locks. Try to get equipment that connects directly with the police, fire department or a monitoring station for the fastest potential response. Usually, the less the danger of disasters like fires and floods, as well as theft, the lower your insurance premiums will be.

How old is my roof and heating, plumbing and electrical systems, and what would it take to update them? If you live in an older abode and these home elements have not been modernized within the past ten years, you are going to have to pay higher premiums for your homeowners insurance because the threat of fires, sewage back up and other calamities exists. While you're renovating other areas of your home, you should work with contractors to price out the updating of these systems.  Keep in mind that although this may cost you extra money short term, in the long run it will save you money because chances are you won't have any related major insurance claims.

What other home improvements might lower my insurance premiums? This is a question you have to ask an experienced contractor. Now you can easily search for home improvement contractors online at sites like In order to find someone you can trust, ask the contractor to give you personal references and call these people to talk to them about the contractor's work. Then check with a homeowner insurance agent to verify that the ideas he has given you will result in cost savings.

How can I get coverage for room additions, but still save on homeowners insurance? Chances are if your renovation plans include adding rooms to your existing structure, you are going to need more coverage, but you should go through your possessions and try to find other areas where you can cut back on coverage to equalize costs. For instance, a fur coat that is five years old and out-of-fashion, is certainly worth less than it was five years ago, so it no longer requires as much protection.

Remember, if you can get all of your renovations completed at around the same time, it will make for a lot less disruption in your home. Therefore, when you approach a project, it's always advisable to see how a little extra work and investment now can save you money on things like homeowners insurance later.