5 Home Improvements to Save on Home Insurance

Insurance premium discounts can vary greatly depending on where you live and many other criteria. We recently asked Lynn Swink, Director of Personal Lines Sales, about home improvement tips that can potentially save you money on homeowners insurance. Here’s a list of five things to add to your home improvement to-do list.

Roof Replacement (not just repairs). Your roof can have the most significant impact on your home insurance premium, plus an IBHS fortified roof in Alabama garners a more substantial discount than a traditional roof. 

Improved Credit Improves Your Insurance Score.  An insurance score is an algorithm that conveys to the insurance companies statistically how likely you are to make claims and how large those claims might be.

Monitored Security System. Installing a security system, especially when monitored for fire, can save you money on insurance premiums.  Although there are discounts for local burglar alarms and self-monitoring smart home alarms, the most considerable discount is when the alarm covers both fire and burglar. The alarm system reports to a central monitored station that can dispatch the fire department or police.

Water Sensor Systems. Water sensors are a new technology that many companies are giving a discount for, and some companies like Chubb are even starting to require them on some homes. 

Multi-Policy Discounts.  You will get the best overall rate for your insurance most of the time if you allow the agent to quote all of your insurance portfolio at once.  It also helps when one agent has all of your insurance to avoid gaps or overlaps in coverage. 

If you have any questions or want a free home insurance review, send your declarations to Lynn at Lynns@palomarins.com.

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