Keep the Cost of Homeowners Insurance Down by Making Your Home Safe

Faced with the rising cost of homeowners insurance, consumers are looking to save money any way they can. Making your home safer could reduce the cost of homeowners insurance by as much as twenty percent, so take a look at some of the tips below. Make sure you notify your insurance company to see if you can get cheaper homeowners insurance rates.

TIP: Call your insurance company and ask if they give home insurance rate discounts for installing any safety devices or otherwise reducing the risk of having your house being damaged. Making the call could lower the cost of your home insurance.

Common Ways to Keep Your Home Safe

Even if you do not see the cost of your homeowners insurance coverage decline, making these safety improvements to your home will allow you to rest easier knowing you have reduced the possibility of a home catastrophe. The less likely a catastrophe, the less likely you will have to file a claim, which can save you money in the future.

TIP: Filing a homeowners insurance claim will cause anincrease in the cost of your homeowners insurance. Avoid disasters and hold on to your claims free discount that saves you money over time!

• Install a burglar alarm– most insurance companies will give 10%-20% discount for installing a burglar alarm. Statistics show that a burglar alarm can considerably reduce break-ins, thereby reducing claims from theft. The insurance carrier passes these savings on to you!
• Steel flex hoses on your washer and refrigerator water lines and under your sink– These hoses can be bought at any do-it-yourself home improvement store for a few dollars. They take seconds to install, and they prevent the rotting or tearing of your normal rubber hose (which always seems to happen when you are not home!). This can save you from dealing with hundreds of gallons of water ruining your hardwood floors, ceramic tile and carpet. Water claims are expensive and can cause an increase in homeowners insurance rates!
• Install washer pans with a drain under washing machines– These pans can also be bought at any do-it-yourself home improvement store for about forty dollars. The pan slips under your washer, and in the event that your washer fails and starts to release water, the water goes into the pan and down the drain instead of on your floors! This is highly recommended if you have a washer on the second floor of your home!
• Smoke detectors on every level of the home– Smoke detectors on every level may not reduce your risk of fire, but it will alert you to the presence of smoke before the fire gets out of control. This might not allow you to get the best homeowners insurance rate as some insurance companies make this a mandatory requirement before they will even insure you. However, no price can be put saving your home and your life!
• Automatic Shut off Valves on Hot Water Heaters– These are a must if your water heater is located in your attic or on the second floor and can be installed without much trouble. The valve senses water leaks and shuts off the water in the hot water heater. The more expensive version also has an alarm sensor that alerts you that the device has been activated. A valve on your hot water heater can save you from expensive and inconvenient water damage to your home.
• Move Grills and Fire Pits to a safe distance– Grilling safety is paramount not only to protect the home but the people around the grill. Safety experts suggest that any grill or fire pit should be at least twenty feet from any structure of the home. Make sure you do not leave any fire unattended, especially if there are children around. Grills and fire pits stay hot long after the fire is going. Make sure that all brush, paper products and other flammable items are kept away from the grill. Never use grills on your deck or inside your home. Grilling safety is not to be overlooked! Home fires started because of grilling accidents are not uncommon.
• Fire extinguishers on every floor– Having a fire extinguisher on every floor in a place that is easily accessible can save you valuable seconds in the event of the fire. Again, this might not save you money on home insurance, but a fire extinguisher can prevent serious fire damage to your home.
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Talk with an insurance agent about your home safety, and how you can reduce the cost of your homeowners insurance by taking these precautions. To purchase your home insurance plan, click here for a free, no obligation quote from Free Advice.

Case Studies: Making Your Home Safe and Its Impact on Homeowners Insurance

Case Study 1: Safety Device Discounts

One common way to keep the cost of homeowners insurance down is by installing safety devices in your home. These devices, such as security systems, smoke detectors, and fire alarms, reduce the risk of property damage and personal injury. Insurance companies often offer home insurance rate discounts for installing these safety devices, as they demonstrate a proactive approach to minimizing risks.

In this case study, homeowners who invest in safety devices can benefit from reduced insurance premiums. Insurance policies such as property insurance or home insurance typically cover the costs associated with property damage or loss, making it important for homeowners to assess their coverage and take advantage of potential discounts.

Case Study 2: Home Safety Improvements

Making safety improvements to your home not only helps protect your property but can also lead to cost savings on homeowners insurance. By implementing measures to reduce the likelihood of a home catastrophe, such as reinforcing doors and windows, updating electrical systems, or installing sprinkler systems, homeowners can decrease the probability of filing insurance claims.

Fewer claims result in a lower risk profile for insurers, which may translate into lower insurance premiums. Homeowners should discuss these safety improvements with their insurance agent to understand the potential impact on their insurance costs and coverage.

Case Study 3: Claims-Free Discount

Filing homeowners insurance claims can cause an increase in insurance costs. Homeowners who manage to avoid disasters and maintain a claims-free history can benefit from a claims-free discount offered by insurance companies.

This discount rewards policyholders for their responsible homeownership and demonstrates a lower risk of future claims. Homeowners should aim to prevent potential disasters through home safety measures to retain their claims-free discount and enjoy long-term cost savings on homeowners insurance premiums.