Upgrades That Impact Your Homeowners Insurance

Home upgrades can boost the value of your property and make your home more comfortable. But some of the upgrades may also impact your homeowners insurance premiums. Explore common home upgrades that impact your homeowners insurance.

Home Security System 

The chances of a break-in or theft decrease when you upgrade your home's security system. The lowered risk can encourage your homeowners insurance provider to discount your premiums. The discount depends on the insurance company and the type of security system. The following safety features can reduce your insurance rates:

• Burglar alarms. Burglar alarms that are loud enough for your neighbors to hear can improve your home's security and attract a small discount from the insurer. Some alarms can even automatically alert the police about an ongoing break-in or a fire breakout. 
• Deadbolts. A deadbolt on just the front door may not lead to an insurance discount, but installing deadbolts on all your exterior doors could result in significant insurance discounts. Some insurance companies also encourage homeowners to include facial recognition and keypads.
• Home monitoring and security system. A round-the-clock monitoring security system that includes CCTV cameras, fire detectors, and smoke detectors can attract a large discount on your insurance payments. Some smart monitoring systems even have motion sensors that can detect a break-in.

If your neighborhood converts into a gated community, you can also get a discount due to the increased security associated with living in a gated community.

Wind Retrofitting

Hail and wind are common causes of damage in many places in the US. Certain upgrades, such as storm shutters, impact-resistant glass, and storm-safe windows, can protect your home against the adverse effects of hail and wind. Such is especially important if you live in a region with high wind risk. Once you do these upgrades, explore discounts from your insurance company.

Swimming Pool 

The typical homeowners insurance typically has liability coverage to pay for the medical costs of a person who sustains injuries on your property. The liability coverage can also cover the attorney's fees if the injury results in a lawsuit. One of the things that can increase the risk of injuries on your property is a swimming pool. The risk of injury is especially greater if your swimming pool has a slide or diving board.

While a swimming pool is a luxury in any home, it can greatly increase your insurance premiums. You can reduce the premium slightly by installing a fence around the pool. Installing a safety cover can also reduce your homeowners insurance premiums but can increase the swimming pool's installation cost. Some homeowners can also choose an umbrella insurance policy to cover the increased liability.

Roof Replacement 

The roof protects you and your family from extreme weather elements, but these elements can cause your roof to wear and wear over time. If your roof has sustained substantial damage, your insurer may increase the insurance premiums. The risk of a claim increases for damaged roofs. For example, missing tiles and worn-out shingles can lead to leaks that further damage a home.

You may choose to upgrade your roof because it is approaching the end of its maximum longevity. The lifespan of your roof depends on the material, and insurers often know when a specific roofing material nears its lifespan. When you replace a roof, your insurance premiums may drop. The discount depends on the type of material that you use on your new roof.

Your homeowners insurance premiums also depend on the type of insurance company you choose. Clover Insurance Agency provides affordable insurance for homeowners and car owners. Our different coverages include SR-22, auto, homeowners, and rideshare. Contact us to choose your preferred insurance policy.