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Unusual Ways to Reduce Your Home Insurance Cost

Unusual Ways to Reduce Your Home Insurance Cost
Unusual Ways to Reduce Your Home Insurance Cost

Reducing the cost of your home insurance is possible through a variety of ways you may not even know about. Usually, homeowners rely on discounts from having installed deadbolt locks, smoke detectors, fire extinguishers, security systems, and fire alarm systems. 

What they do not know is there are plenty of other ways to cut down premiums. There are actually many hidden credits that they should ask their agents about to reduce the cost of their home insurance.

For instance, did you know that you can actually save five to twenty percent off home insurance simply by living in a gated community? Well, living in a gated subdivision means being more secured and less attractive to thieves. Your rate may even be lower if you live near the local fire department.

If you are retired and above fifty-five years of age, you may even get an additional ten to twenty-five percent discount. This is because seniors are likely to stay home and minimize damages or losses.

You may also get ten percent discount from your home insurance agent if you considered new wiring for your home. Basically, a house with old wiring is at risk of starting a fire. So if you want to lessen the amount you have to pay for premium, you should secure your house with new wiring. See to it that you hire a licensed contractor to install the new wiring. Your home will be safer and not likely to cause outages, fires, or shortages this way.

If you are a smoker, you better quit now because smokers are usually charged higher rates by home insurance agents. Non-smokers can avail of five to fifteen percent discount because they are less likely to cause home fire. 

There are data available to back this up. In 2007, for instance, there were over eighteen thousand residential fires in the United States according to the Fire Administration. This has caused more than three hundred million dollars in property loss.

Another way to receive five to ten percent discount from your home insurance agent is by fixing the roof of your home. You should know about Class 1 to Class 4 roofing materials. 

Class 4 is the sturdiest; it can resist rainstorms and strong winds. If you want to avail of the discount, you should have your roofing material tested by a laboratory. You may even qualify for a tax deduction if you use impact-resistant roofing materials.

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