8 Upgrades to Lower Your Baltimore Home Insurance Premiums
Nothing sounds more exciting than paying home insurance premiums, am I right? But what if you could lower your monthly insurance bill with a few simple upgrades?
Probably not our best pitch, but it can be tricky making home insurance sound sexy. Nevertheless, we’ve found several cost-effective home updates that can help you secure your home and potentially lower your Baltimore home insurance costs.
Let’s dig in!
1. Security System
Take advantage of insurance discounts by installing a home security system. With a surplus of smartphone-enabled options available—from alarm systems to video doorbells—protecting your home has never been easier.
2. Electric or Gas Fireplace
While traditional wood-burning fireplaces may feel charming and romantic, they come with safety concerns. In some areas, they are already banned due to fire risks. So switching to an electric or gas fireplace not only addresses safety concerns but can also result in home insurance savings.
3. Water Shut-Off Devices
There has been an increasing concern for flooding throughout the United States, so many insurance companies have offered premium savings for installed water shut-off devices. This technology allows you to quickly respond to flood alerts and keep your home from potential disaster. A smart and easy upgrade that could save you precious pennies.
4. Roof Renovation or Replacement
New roofing can be expensive, but upgrading this home feature can save homeowners anywhere from 5% to 35% on insurance premiums. Some companies offer discounts for specific materials such as hail or wind-resistant shingles. Regardless, a new roof is a wise investment, as insurance coverage for roofs over 20 years old can be challenging to obtain.
5. New HVAC System
Upgrade your home's comfort and efficiency by installing a new Heating, Ventilation, and Air Conditioning (HVAC) system. Beyond the immediate improvement in your living environment, modern HVAC systems are more energy-efficient, leading to potential savings on your insurance rates.
6. New Wiring
If your home was built before the 1960s, check the state of your electrical wiring. Older homes with aluminum wiring are more susceptible to hazards. Upgrading to modern materials like copper can not only enhance safety but also lead to substantial savings.
7. Upgraded Plumbing
Periodic updates to your home's plumbing system can save you up to 15% on insurance premiums. Beyond improved performance and corrosion resistance, upgraded plumbing allows you to enjoy the luxury of modern updates and appliances.
8. Storm-Resistant Windows
Investing in storm-resistant windows may seem like a significant expense, but the long-term benefits are worth considering. Not only do these windows reduce the risk of breakage during storms or hurricanes, but they can also earn you a policy discount from insurance companies.
Did you know about these upgrades that can lower your insurance premiums? Not only do they give you a chance to update your home, but they also save you money down the line. It's a win-win for homeowners looking to protect both their homes and wallets!
Not sure where to start? Contact our team to get connected with local contractors and recommended insurance agents. Your home is a big investment, and we want to make sure you (and your bank accounts) are protected!
