Insurance companies aren’t simply in the business of paying out money for claims. Yes, that’s a big part of what they do, but they also work hard to try and prevent claims from being filed in the first place. Specifically, they’ll go out of their way to give you a discount on your monthly premiums if you do certain things that lower your chances of suffering a loss.
In the insurance world, this is called “mitigation”, but in your world it’s easy to take advantage of savings by simply spending some time and money on these 6 home maintenance projects:
1. Invest in a burglar alarm
Luckily, this is one home project you won’t have to break a sweat doing yourself! Whether you invest in a local burglar alarm (meaning the alarm goes off, but there’s no one monitoring the system to notify the police) or a central burglar alarm (meaning that there’s a staff on-call 24/7 to alert the authorities if your alarm goes off), you’ll save money on your premiums. You’ll likely save more, though, with a central burglar alarm.
2. Upgrade your wiring
It’s a simple fact – older electrical wiring is more likely to cause a fire. In fact, the U.S. Fire Administration says that home wiring is responsible for twice as many fires as electrical appliances.
3. Make your roof impact-resistant
Consider it like getting a hard hat for your home! Thanks to all of the impact-resistant roofing materials that have popped up in recent years, you can make it so that your roof is much less likely to get damaged during a hailstorm or from debris that’s being tossed around in a windstorm. Certain impact-resistant materials can even make your roof less susceptible to the wind itself!
One of the most popular ways to go impact-resistant is to use special rubber shingles. Hail can literally bounce off of them, and they’re flexible enough to curl up in high winds, then settle back in place once the storm is over.
4. Give your doors and windows impact protection, too
There is special glass that you can use on your windows and sliding glass doors to make them virtually unbreakable in a storm. In fact, you’ll usually save more money by installing these windows and doors than you would if you simply had a set of storm shutters. Just be sure to see if there are special requirements in your area, so that you use the right materials for your discount.
5. Install deadbolts
A deadbolt can only be opened by rotating the lock cylinder with a key. A spring latch, on the other hand, is much easier to penetrate. All you have to do to open a spring latch is release the pressure that’s holding it in place – something that can be done with a key, but also with a credit card or any other thin object that you can wedge into the lock.
6. Get a set of fire sprinklers
Just how much money will you save?
An exact dollar amount will vary from policy to policy and company to company. To save the most money, talk to an insurance agent. They’ll be able to look at the work you’ve done, crunch the numbers, and tell you which insurance policy will give you the most bang for your buck.
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