Owning a home can be expensive. Not only must you pay your mortgage, water and electricity bills, but you must also pay for insurance on the home. While most of these expenses can't be changed, there are ways you can adjust your insurance costs through changes to the home.
Add An Updated Security System
The crime rate in your area can have an effect on your home insurance rates. If the likelihood of a break-in is high, your home insurance rates are likely to be high, as well. Adding an updated security system can lower the risk of a break-in and save money on your home insurance policy.
Maintain Fire Safety
Having updated fire alarms and other fire safety tools in the home can not only keep you safe from fires, but also lower your home insurance rates by lowering the chance of a claim. Keep in mind that home insurance costs are calculated heavily depending on how likely you are to file a claim. So, lowering that risk can save you money. Keep a fire extinguisher in the home and make sure each room is equipped with a working fire alarm.
Reinforce Windows And Doors
Look at each window and door in your home. Many homes have worn locks and frames over time, so it's important to keep up maintenance. Replace old locks and reinforce door and window frames. This makes break-ins less likely and can lessen the damage caused by storms.
Invest In A Sturdy Roof
The roof is one of the first parts of your home that an inspector looks at. Roofs are a crucial aspect or maintaining the integrity of a home and keeping out storms. Investing in a hail-resistant roof can prevent damage and lower your home insurance rates.
When an accident does occur, it's always recommended that you have a professional calculate the damage. If the cost of repairing damage to your home is less than that of paying your deductible for filing a claim, it may be best to simply pay for the expenses out of pocket. On the other hand, if the damages cost much more than your deductible, you will likely want to file a claim to receive compensation for the expensive damages. Just keep in mind that filing a claim may raise your rates.
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