7 Renovations That Can Lower Your Home Insurance Rates

7 Renovations That Can Lower Your Home Insurance Rates
  • Opening Intro -

    As a homeowner, you are likely to renovate more often than you would expect.

    There could be a few reasons, such as modifying your home to fit you and your family's needs, increasing your home's value, or simply making repairs as issues pop up.


While all these reasons are valid and true, there is a hidden benefit that many people are unaware of: lowering your home insurance rates substantially! Insurance companies will give you a better deal if your home is considered safer, and there are a few different ways you can take advantage of that.

In this article, we will discuss some of those common renovations that can lower your home insurance rates and give you a better quality of life and a more enjoyable, safer home.

1. Repair or replace your roof

While installing a new roof or repairing your current one isn’t the most exciting project to take on, doing so will save you a lot of money on your homeowner’s insurance. After all, your property will be better protected by providing your roof with the necessary maintenance.

The added benefit to inhabitants of places with extreme weather (such as those with regular hurricanes, high winds, or hail) is much better because roofs in those regions are typically built to deal with this weather more effectively.

In short, the newer the roof, the better the materials and the safer your home’s condition will be. In turn, your home will pose less liability to insurance companies, and your deal with them will be better.

2. Upgrade your windows

Wind and hail are among the top causes of damage in states susceptible to bad weather. Therefore, one of the most significant renovations that can lower your home insurance rates is making your windows storm-safe and impact resistant.

The insurance discounts you will receive from this will vary depending on the location of your property. Before starting, inquire about this specific renovation with your insurance company.

However, the good news is that if you are indeed in one of those most affected areas, you can expect a significant discount on your insurance. On the other hand, if your budget is tight, a few simple tasks such as painting them will make them appear newer and, in turn, safer.

3. Take a look at your detectors

Smoke and CO2 detectors are a cheap budget-friendly investment that could potentially save your life and your belongings and will reduce your home insurance rates. If you want to take this a step further, you can opt for a monitored fire alarm system. Such a system will automatically notify a firefighter team at the first sign of a fire. This project will give you peace of mind knowing you are protected no matter where you might be. However, if you already have these valuable detectors, you may simply test them yourself to see if they are in working order.

4. Install a security system

Installing a security system is the most straightforward, effective, and worthwhile project you can undertake to reduce your insurance rate significantly. Such a system may include door sensors, better locks, cameras, window sensors, and outdoor lighting.

All these devices work together to ensure that your home is one step safer and better protected against intruders, which is why you should choose home security providers wisely.

The discount rates you will get if you consider this investment differ greatly. However, if you choose the better and more reliable systems and devices, they might even give you a better deal.



5. Replace your HVAC system

Old heating, ventilating, and insurance companies consider cooling systems an increased risk and electrical hazards. This typically means a higher insurance quote if your home has outdated ones.

Replacing your older system with a new one from a reputable company will mitigate that risk which means lower home insurance rates.

While this is a costly upgrade, it has many benefits besides the insurance discount. A better HVAC system means better-quality air that you are breathing in.

Furthermore, your electric bills will get reduced since the newer systems are more efficient. Moreover, your property value will rise and get better climate control.

6. Improve your wiring and/or plumbing

Old wiring and plumbing may pose a few risks that typically lead to a higher insurance price. This is one of the main reasons why insuring an old home is more expensive than a newer one! Old electrical wiring is susceptible to damage when used with modern home devices.

Furthermore, it has the risk of catching on fire or severely damaging your current wiring system. Similarly, old plumbing might be using outdated materials that built up rust and damage and could break at any moment, causing flooding and severe water damage.

Therefore, we advise that you improve the wiring and plumbing at your home. While this might be a slightly costly upgrade, it will reward you with a significant discount on your insurance rate. However, even simple changes may help!

home improvement ideas to consider (complete collection – new win):

6. Smartify your home

Smart home devices and smartifying your home are now all the rage. This renovation is truly worth it with numerous benefits, from an improved quality of life to a better market price. Most importantly, such a project will lower your home insurance rates.

Although some we had mentioned when we talked about security, others include smart sensors, thermostats, doorbells, and more! Do your research and find upgrades that fit you and your lifestyle.

For example, an elderly person may enjoy the benefits of smart emergency-contact systems. In fact, different features may work differently and be beneficial for someone else, so know what you are getting into before investing in any new gadgets.

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