Anything can happen, at any time, and that’s why home insurance is vital for any homeowner or renter. We’re aware that home insurance premiums are ever fluctuating and can be pricey. Here are some tips for helping lower that rate. 

1. buy auto and home insurance from the same company

It can be beneficial and cost-effective to use an umbrella plan for your home and auto insurance. Most insurance companies will offer a package or competitive rate, and you could end up paying less for both insurance policies. Tip: make sure the package price for home and auto is less than if you were to use different companies.

2. out with the old, in with the new

If you live in an older home, insurance companies view your home with a higher risk and disaster probability. According to MoneyCrashers.com, plastic pipes (commonly used ~50 years ago), last roughly 40 – 50 years – if the house is roughly that old, it may be time to have the plumbing professionally upgraded.

Structure and foundation issues are not out of the ordinary with older homes as well. Most older homes are not sturdy enough to withstand a shifting or sinking foundation.

Many roofs are rotted or deteriorating – these are especially dangerous in cases of a tree falling or heavy storms. You should have your home re-roofed to increase your overall safety, reduce risk and home insurance premiums.

Old electricity and wiring is another downside of many older homes. In a lot of cases, technology has significantly advanced and combining new technology with older electrical systems can result in a disaster. Have a professional electrician inspect your home for any faulty wiring and rewire where needed.

3. having a Home Security System

Out of all of the recommended ways to get a discount on your home insurance, having a home security system is perhaps the most efficient and cost-effective method. According to CoverHound.com, having a security system and monitoring system can reduce the cost of homeowner’s insurance from 15 to 20 percent. These statistics of possible savings mean the cost of a home security system can pay for itself.

Insurance companies look at a few different aspects when quoting you, and here are some of the primary areas a home security system can help reduce the cost and prevent burglary threats in general:

Natural gas, water, and smoke/fire sensors – Fires and natural gas leaks are arguably the most common threats and source of home disasters. You can have natural gas detectors installed to notify you of any gas leaks; smoke detectors to warn you of any possible or starting fires, and water detectors can make you aware you of any broken pipes and water leaking in your home to prevent flooding. 

Reduce burglary and theft claim rates – According to AngiesList.com, burglars try to determine if a home has an alarm/security system before attempting a break-in. Over 80% said they’d stop or not continue with the break-in if they knew there was an alarm or security system. The less amount of break-ins in your neighborhood and part of the city, the better off you and your neighbors are when looking to get insurance rates. Home security systems help reduce this quota. 

Deadbolts kill burglary attempts – Having a state of the art deadbolt installed on your front door and the primary point-of-entry is one of the most effective ways of deterring criminals. It’s also recommended to implement a key control system, so copies of keys can’t be made by anyone else than the owner. 

Motion sensor lights – Not only do these lights help ward off any potential burglary threats, but they also help save energy by turning on when needed only.

Sound the alarm! – A two-way system that startles burglars and sends an alert to the authorities is a critical component home insurance companies pay attention to with home security systems.

Video Surveillance and Monitoring – The Huffington Post claims homes that are not using video surveillance and monitoring systems are 300 times more likely to be burglarized At Complete Smart Home Security and Services, we offer video surveillance and monitoring systems that help reduce possible threats and risks. 

 

 

What it comes down to

In summary, home insurance companies give the best rates to homeowners with the least amount of risk or potential threats. You can buy your home and auto insurance from the same company to get a package deal; rewire your electricity and upgrade your plumbing, or have a home security system installed. 

 

Time to save on home insurance? A security system can help.

Receive the best recommendations and an estimate from one of our home security system advisors. The information we provide is completely free and there’s no-obligation. One of our advisors will be in touch shortly to find the perfect home security solution for you!

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