How Home Maintenance Can Lower Your Home Insurance

Completing regular home maintenance checks is an important part of being a responsible homeowner. Your home is a big investment and you want to take proper care of it. But home maintenance isn’t just about making your house a more efficient and enjoyable place to live. Conducted regularly, home maintenance can boost your home's resale value and could help lower your home insurance premium.

Three opportunities provide the greatest chance of lowering your insurance costs: mitigating storm damage, avoiding mechanical failures and bolstering home safety. By paying attention to these, you’ll lessen the likelihood of having to file home insurance claims and, in some cases, you can earn discounts.

Storm damage prevention

From hail to hurricanes, severe weather can wreak havoc on homes. Thunderstorms alone cause hundreds of millions of dollars in property damage each year, according to the National Weather Service.

Luckily, there are a few things you can do to lessen the blow of a storm: 

·         Check weather stripping and caulk: Weather stripping and caulk around your windows and doors helps keep water from entering your home during a storm. Check and see if your weather stripping needs replaced and see if there are any areas in need of re-caulking. Aside from preventing water damage, updating your weather stripping and caulk can help keep energy costs down by not allowing air to escape from your home.

·         Review the condition of your roof: Wind, water and hail can cause extensive roof damage. Make sure you are regularly checking your roof for missing or loose shingles. Depending on how long you’ve had your current roof, it might be time to replace the whole thing.

·         Trim trees and shrubs outside: Every season it’s a good idea to walk around your property and trim trees and shrubs. Make sure to remove loose or dead branches. Pay extra attention to trees and shrubs close to your house. During a storm, loose branches could become projectiles and end up getting hurled through a window.

·         Clean out the gutters: Clogged gutters are a common cause of water damage. Be especially diligent about keeping your gutters clear in the fall when they get inundated with leaves.

Avoid mechanical failures

Outdated electrical systems and leaky, old plumbing can lead to insurance losses – and higher home insurance premiums. Including these systems in your routine maintenance ultimately can lead to lower premiums and help your home work more efficiently. 

Some tasks to consider:

·         Have your HVAC unit serviced: It’s a good idea to have your HVAC unit inspected by a professional – maybe more than once a year. You want to be sure it’s in prime condition by the time the temperatures drop in the winter and rise in the summer. Plus, HVAC units will use fuel more efficiently, last longer and have fewer problems if properly serviced. If you’ve had your HVAC unit for a long time, it might be time to get it replaced.

·         Find and fix plumbing leaks: If your home has older plumbing, it should be regularly inspected for leaks. A burst pipe can flood your home and cause hundreds, if not thousands, of dollars in water damage. If you find a leak, get it repaired right away.

·         Upgrade outdated electrical wiring: Got outdated electrical wiring? Call an electrician and have it upgraded. New wiring can help lessen your chances of suffering an electrical fire. Older wiring is much more likely to spark a flame.

Put safety first

When it comes to home insurance, safety saves. It not only can save you from having to file a claim but also can save you money on your monthly premium in the form of a discount.

Here are a few safety precautions to keep in mind:

·         Replace smoke alarm batteries: Smoke alarms can prevent a small flame from turning into a full blown house fire. Make sure you check the batteries regularly and replace them. If you haven't already, notify your home insurance provider that your home has smoke alarms. You make be able to receive a discount.

·         Install security system: Another way to receive a discount on your home insurance is by installing a security system. Many provider offer price breaks for homeowners who have them. A security alarm also is a great deterrent to burglars.

·         Service your chimney: With fall just around the corner, it’s a good idea to hire a professional chimney sweep to clean out your fireplace. A clogged fireplace can lead to a chimney fire, which could really put a damper on the fall and winter season.

Along with home maintenance, make sure you review your home insurance policy regularly as well. Whether you’re just brushing up on your coverage knowledge or you want to shop around for a less expensive premium, it important to revisit your policy from time to time. Make sure you understand your policy limits and up your coverage if necessary. A home insurance calculator can be a useful tool in deciphering how much dwelling coverage you need. And check out other ways to save on home insurance as well.

In the end, the fewer claims you have to file, the lower your home insurance premium will be over time. Take steps to complete regular home maintenance and you’ll create a more efficient, less risky environment for your family. 

Samantha Alexander writes for HomeInsurance.com, an online resource for homeowners and drivers across the country. Offering comparative automobile and home insurance quotes, consumers rely on HomeInsurance.com for the most competitive rates from the top-rated insurance carriers in the country. The HomeInsurance.com blog provides fresh tips and advice on a range of financial topics to help homeowners and homebuyers make educated decisions about their insurance purchases.