When you’re buying a new home, or building your dream home, there are all kinds of ways to improve your homeowner’s insurance rate both before and after moving day. Check out some of these credits and warm up that Visa card, because you’re not going to want to miss these.
- Hail damage might be one of the biggest payouts that insurance companies have to deal with, costing about $1 billion in damages to property and crops every year and almost four times that much in payouts. Whether you’re building a new home, or looking for a better roof for your current residence, a professionally installed, certified impact resistant or Class IV roof can save you and your insurer a lot of money and hassle. Insurers are more than willing to offer credits of 5 to 10 percent to offset the cost of installing such a roof, especially as payouts from hail damage are soaring. Such roofs might also qualify you for state or federal tax deductions or credits.
- Old wiring causes fires. That gorgeous older home that you’ve fallen in love with may harbor a terrible hazard in out of date and often out of code wiring. Updating your wiring is expensive and a hassle, but when you look at your family, do you really want to save money that badly? Your insurance company may also require that you rewire, if the wiring is old enough. Why? The United States Fire Administration pegged electrical wire and its insulating jacket as the cause of almost 30 percent of residential fires. Save as much as 10 percent, and your loved ones’ lives, with safe and modern electrical wiring installed by a licensed contractor.
- Nonsmoking discounts do exist! […]