Upgrades That Might Help You Save Money On Home Insurance

2 February 2017 by Elijah Steward

Spending money on your home can help you save money on your homeowner's insurance, and there are numerous items you could invest in to help reduce your premiums. Insurance companies base rates on risk levels, as well as other factors, so here are three upgrades you can make to your home that may reduce your risk level to the company that provides your home insurance.

Home security system

If you would like to make your home safer and protect your family even more, you may want to consider adding a home security system to your home. While these systems do require an investment, adding one will also result in savings on your home insurance. You may be able to save roughly 10% on your home insurance just by adding a security system, but there may be companies that offer even larger discounts than this. Security systems reduce the risk of burglaries in a home, which is the main reason insurance companies offer discounts for them.

Fire extinguishers and deadbolts

Another way to improve home security is by adding deadbolts to all your exterior doors. Deadbolts add another layer of security and make it harder for people to break in. By adding these to your doors, you might qualify for a discount on your home insurance.

Adding fire extinguishers is another great way to protect your home while saving money on your home insurance. You may receive a 5% discount on your policy if you have a fire extinguisher in your kitchen.

New wiring

If the wiring in your house is old, the insurance company probably knows and has factored this into your rates. If you would like to save another 10% or so on your home insurance, you could have this updated. Old wiring in homes is a fire hazard, and insurance companies know this. If you decide to do this, make sure you call your insurance company when the job is complete to let them know. They can instantly recalculate a new rate for you, and it might be significantly lower than the rate you are currently paying. In addition, new wiring will make your home safer for you and your family.

When you make any changes or improvements in your home, it is a good idea to contact your home insurance company. To learn more about this and other discounts you may be eligible for, contact an insurance company such as Daniel L. Rust Insurance.

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