Insurance carriers consider many factors about you and your home when determining how to price your insurance. Some factors like geography and the age of your home can’t be easily changed, but there are many things you can do to your home, or changes in your own life that will help you to bring down the cost of your insurance.
Insurance carriers look to the state of your home to determine the likelihood of a future claim. If you’ve made improvements to your home that make it more protected against damage, you may qualify for a reduction in your premiums. Below is a list of common changes to your home that may help you to lower costs, but you should speak to your agent if you’ve made other improvements you think may improve your premium:
Security Upgrades
1.Add a dead-bolt lock, smoke detector, or burglar alarm
2. Setup a security system with a direct line to the police, fire department or other monitoring stations
3. Install a sprinkler system
Weather Resistant Upgrades
1.Replace or reinforce your roof
2. Replace or reinforce your windows
3. Add storm shutters
4. Retrofit your home for earthquake proofing
5. Complete other storm-proofing upgrades
Additional Home Upgrades
1.Update water heater, heating, plumbing or electrical
If you are considering making any of the above updates, speak with your agent beforehand to understand your carrier’s requirements and the discounts you can expect.
People who are retired tend to spend more time in their home, making it less likely to be burgled, and more likely to be well-maintained. If you’ve recently retired, review your policy with an agent to see if you qualify for an additional discount. Other life changes that may help you to lower your premium include:
1.An improved credit score
2. Quitting smoking
3. Completing your degree
4. Retiring
