Saving on Your Homeowners Insurance
Buying an old house and fixing it up is a great way to get a good deal on a home. But, renovating can take time, and many end up doing little repairs here and there. Tearing out a wall one month, installing hardwood floors the next. Replacing old doors and windows, replacing broken roofing materials, and redoing the kitchen are some of the projects you most often hear new homeowners talk about. Or dream about.
Before you start to prioritize your renovations talk to your insurance agent about the types of repairs that could affect your home insurance policy, both positively or negatively.
Any renovation that changes the value or the structure of your home can have an effect on your homeowners insurance.
A new roof may cut your premiums
A new, upgraded roof is the number one renovation that will give you big savings on your insurance premiums. And, if you look into energy efficient roofing solutions, you could save even more on your utility bills.
Rewiring your home can cut premiums
Having your home completely rewired is a surefire way to cut down on your homeowners insurance. Plus, rewiring your home will ensure the safety of yourself and your loved ones, which is really the most important thing. Saving money is great, saving lives is priceless!
Old homes often don’t have a grounded wiring system. Upgrading your system and changing out the old, non-grounded, two-prong outlets with three-prong grounded outlets will decrease the likelihood of an electrical fire. New wiring also allows for you to install more smoke detectors, fire alarms, security alarms, etc. to improve the safety of you home. All things that will delight an insurance provider and get you lower premiums.
Rewiring your home will allow you to install dimmer switches or timers for your indoor and outdoor lighting. Again, this is another home improvement that will cut down your premiums and your utility bill.
Find home insurance for your Colorado home
If your home is a work in progress, talk to an independent agent who can help you through every step, searching for the best policy possible for your evolving home. An independent agent has access to multiple carriers, ensuring that you can get a policy that is tailored to your lifestyle and your home, not the other way around.