Few things in life cost as much as a person’s home. Besides the initial fees, there will be ongoing maintenance costs and utility bills. In order to protect their major assets, people all over the world take out home insurance. It provides peace of mind should a house sustain fire or storm damage.
If a person’s possessions are stolen or ruined through flooding, there may be insurance in place to cover the replacement costs.
People are always looking for ways to save money, and this includes reducing their home insurance premiums. There are a number of ways that this can be achieved, and many of them are good for the environment as well.
Alongside reducing their carbon footprint, people may even enjoy tax breaks and incentives. Let’s look at some major money-saving tips together right now.
New Plumbing And Wiring
Galvanised or lead piping is prone to corrode and rust over time. Such things can generate blockages or leaks that can cause water damage. If this is true of your property, replace the plumbing with copper or plastic pipes. If you get them insulated this will help protect your property from burst water pipes, especially during cold weather.
If your wiring system is out of date, it may be inefficient and pose a potential fire risk. Even if these changes don’t directly reduce your home insurance premiums they will help protect you from future claims.
In 2016 Canada was home to over 38 million people and most of the occupied houses were single-detached versions. A visit to Insurdinary.ca demonstrates the popularity of price comparison websites for home insurance. People want to receive quotes from a number of different companies within a matter of minutes. They want access to large broker networks and to be able to apply online.
Solar Panels
They are probably the most obvious eco-sustainable options people can use to save money on their home insurance. Many people cut their electricity bills by half, and enjoy the same panels for between 25 and 35 years. Whilst they are an expensive investment at the start, they pay off longer term.
The beauty of this option is that no air pollution occurs when the panels are in use. Carbon dioxide is not emitted, and the nation’s electricity resources are put under less strain. Be sure to have the panels covered under your home insurance, and this includes the installation process: this is because there could be issues if your roof is not strong enough to support the panels.
Improved Security
Insurance companies frequently ask about security on their application forms. It’s no surprise considering one survey found people without burglar protection were 300% more likely to experience a break-in. The same research discovered that 83% of intruders look for burglar alarms before they do anything.
A monitored alarm system will reduce your premiums and the biggest savings will be if this is overseen by a third-party company. You may save between 5% and 10% on your premiums if motion lights and video monitoring are installed. It’s also beneficial to think about having locks on all your windows and doors, using deadbolt locks for the latter.
A New Roof
After ten years you are more likely to experience issues. This will often be the result of the continued exposure to the elements, including strong winds, storms, and rain. Perhaps it is time for you to replace your traditional roof shingles with concrete or slate tiling. It’s also possible to use metal roofing, clay tiles, or synthetic shake shingles. Some modern materials even come from recycled sources.
By paying for a new roof there may either be an immediate insurance discount or at the very least a reduced chance of needing to make a claim.
Fire And Flood Protection
If you install fire sprinklers in your home this may bring down your premiums. This is because water or flame retardants will quickly be sprayed should smoke and fire develop. That’s especially good news if you live a long way from the nearest fire station.
If you live in a flood zone, investigate the best measures to take. If you install a sump pump and backwater valve this can provide some damage protection. Special shut-off devices can detect sustained running water and prevent flood damage indoors as well.
It’s a good feeling when a person saves money on their insurance and benefits the environment at the same time. Not only can homes and properties be preserved, but human lives can be safeguarded.
