Update Your Home with Your Tax Refund to Reduce Homeowner's Insurance Premiums

If you’re really interested in saving some money on your homeowner’s insurance this year, then why not use your tax refund for a few home improvement projects? Rather than spend that money on new expensive gadgets that may only raise your premiums in the end, you can perform some repairs and updates that will increase your home’s value and reduce the cost of your insurance at the same time.

Get a Security System

Whether or not you live in a neighborhood that is known for crimes like burglaries, installing a home security system will provide you with three benefits. First of all, your family and possessions will be protected in the event that a burglary does occur. Second, your homeowner’s insurance premiums will be reduced since the likelihood of a theft reduces dramatically. Finally, the value of your property increases, so if you decide to sell your home, you can ask for more money.

Fix the Roof

Even if it isn’t leaking (yet) there are some updates you can do that will help you save money on your homeowner’s insurance. In fact, there are many insurance providers out there that will provide a nice discount when you update your roof with impact-resistant materials simply because it reduces the odds that you will have to file a costly claim after a hailstorm, snowstorm or other event. Sometimes, this can be as much as 10%!

Consider Rewiring

Although rewiring your home is a big job and one that might put you and your family out of sorts for a while, there are some huge benefits in doing so. Outdated wiring is dangerous, so if you still have old-fashioned fuse boxes and ungrounded non-GFI power outlets, consider updating everything. Again, this reduces the odds that you will need to file a fire-related claim and may save you some money on your premiums.

Put Up a Fence

Finally, when you choose to put up a fence around your yard, you can also save some money. In many states, and in Florida, as well, should someone walk through your yard and get hurt, your insurance may be left to pick up the bill – even if that person was uninvited or perhaps even trespassing. As such, putting up a fence will deter people from coming into your yard uninvited, thereby reducing the likelihood that someone will get hurt on your property.

Check Your Plumbing

While flooding is a concern in some parts of Florida and separate insurance policies are designed to cover this, floods caused by plumbing issues are an altogether different story. Brittle pipes and failed connections cause thousands upon thousands of dollars, and more homeowners than you might think are faced with this problem annually. If it’s time to update your plumbing, then you can certainly reduce some risks here, as well.

If you are looking for ways to save money on your homeowner’s insurance, or perhaps you’d like to see about getting a cheaper policy with ample coverage, then visit www.cheapinsurancefl.com for some ideas. There are always great ways to save on your premiums if you know where to look.