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3 Things That Help Your Homeowners Insurance Premium

You would think that newer things are more expensive to insure, but that actually isn’t always the case when it comes to your home insurance. Check out the home updates below that can lower your premium! It turns out, all our HGTV watching may just come in handy.

  1. A New Roof
    For most insurance companies, a new roof can mean a good bit of savings. A new roof typically can withstand weather better than an older one, and, therefore, can save you (and the insurance company) some money. If you have had a new roof put on, and we do not already know about it because of a claim, be sure to let your agent know!
  2. A Security System
    Make sure your insurance company knows if you just installed a security system. There are lots of different options on the market that you can self-install, making security systems more accessible than ever. Before you purchase, check with your agent, because your insurance company may have a list of devices that qualify for a discount.
  3. A “Smart Home” Addition
    More and more “smart” devices are becoming available and affordable. A thermostat that automatically alters the temperature in your home is great for keeping our house at the perfect 70 degrees at all times and it can ensure your pipes do not freeze while on vacation. A newer device on the market – FLO by Moen – can independently detect a leak in your home and turn off the water to your home when a leak is detected. If you travel often, or have a second home, this becomes even more valuable considering undetected leaks can cause hundreds of thousands of dollars in damages.

But be aware – not every upgrade will save you money! Companies typically upcharge for expensive items like solar panels. Installing a pool, while it will most certainly increase your summer fun, also increases your liability risk. A business operating from your home could cause some coverage issues if your insurance provider is not aware of the exposure. The key thing is to update your agent as you make upgrades and changes.

If you have any questions, we are here to help!

Jessica Johnson, Account Manager
W&A The Kristal Carpenter Agency