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Did you know certain home improvement projects could help to reduce what you pay on your home insurance? Take a look here at some ideas you can do around your home to begin these upgrades.
Upgrade and installation projects
- Upgrade to an electric or gas furnace. Did you know that oil, wood, or pellet stoves are risky heat sources that are likely to cause home fires? Switching to an electric or gas furnace lowers this fiery risk and can lower your insurance premium.
- Add a security system to your home. Not only do security alarm systems capture or keep would-be thieves away from your home, but they can also help homeowners qualify for an alarm discount on their home insurance policy. Make sure you also look into whether a company-monitored or a self-monitored security system would work best for your home.
- Install a sump pump or backwater valve (or both!). A sump pump pushes water away from the foundation of a structure. A backwater valve prevents sewage backup from seeping into your home. Both of these systems also lower the chance of experiencing flooding and submitting a water claim. Both of these installations can also help you receive a discount on your home insurance. Ask your insurer how having a sump pump, a backwater valve, or both systems can help you save on your policy.
- Make your home a Smart Home. Homeowners and tenants are saving on their policies from their insurers for installing particular types of smart technology. Smart smoke and carbon monoxide detectors are among the tech that alerts you on your smart devices of smoke or carbon monoxide being detected around your home. Installing smart water sensors allows homeowners the ability to turn off their home’s main water supply when a leak is detected when away from home to prevent flooding.
Whether the improvements you choose to make on your home seem simple or complex, having a qualified professional on hand to help guide you through these projects and to follow all required safety standards should be considered. Another thing to keep in mind before starting any work on your home is to contact your licenced insurance broker to advise you if and how your home insurance policy may change.
Resources
https://woodheatanswers.com/does-a-wood-burning-stove-affect-insurance-premiums
