When it comes to saving money on your homeowner’s insurance, there are a number of things you can do around the house to ensure that your premiums are the lowest possible. When insuring your home, insurers look at four key areas: your HVAC system, your electrical wiring, your plumbing, and your roof. Obviously, the newer these items are, the lower the rate you will be charged for your insurance.
Insuring a Short Sale or Foreclosure?
If you have recently purchased a foreclosure or short sale home, there are most likely repairs that need to be made. It is often difficult to obtain homeowners insurance on homes that are missing an A/C unit or are in need of repairs. However, you can get insurance. Just know that you will be paying more each month until the repairs are completed. Make sure that you notify your insurer as soon as the repairs are completed so that your rate can be lowered as quickly as possible.
The Age and Type of Your Roof Matter
Yes, insurance companies will charge you less in monthly insurance premiums when you roof is newer. They will also charge you less if you have certain types of roofs installed. If your roof has been in place for 15 years or more, it may be time to get a new roof, even if your shingles are rated for 30 years. This will ensure that you are paying the least in homeowners insurance premiums.
The Age of Your Electrical System Matters
Other than homes more recently built, few homes meet today’s electrical codes. This means that the older your home is, the older the electrical system is, and the greater the risk of having an electrical malfunction which can result in a catastrophic loss. Insurance companies view older homes as an increased risk, which results in a higher monthly premium, unless you completely upgrade your home’s electrical system and can provide proof that the system now meets current codes. Of course, not only will you save on your monthly homeowners insurance premium by making this upgrade, but you will also improve the safety of your home.
Upgrading your HVAC system and plumbing will have the same effect on your homeowner’s insurance. The newer the system, the less you’ll pay each month. You’ll also get the peace of mind in knowing that there is a lesser chance of a major system failure after having each of these items upgraded or replaced.
If you are looking for ways to save on your homeowners insurance premiums, making improvements to these four key areas will save you a bundle. For more ways to save on your homeowners insurance, talk to a local insurance agent today. Getting homeowners insurance Chesterfield MO at the best possible price is as easy as contacting a local insurance agent and getting homeowners insurance quote Chesterfield MO.