It is more challenging than ever to be a homeowner. Not only are soaring real estate prices making starter homes unaffordable for many first-time buyers, but home insurance is becoming increasingly difficult--if not impossible--to obtain in some areas. This is especially true in California, where ongoing threats of wildfire and earthquake leave insurers unwilling to offer coverage to properties they deem high risk.
The good news is that with the proper planning, homeowners can take some effective steps to mitigate these risks and improve their chances for favorable coverage. Keep reading as we explore some of the best home improvements that can help you save on insurance premiums.
Upgraded Roofing
The roof is the home’s first line of defense against the forces of nature. It often takes the brunt of damage during severe weather events. As such, it is a great place to start when fortifying the home against loss. Standard asphalt shingles and wood shakes do a decent job of protecting the property when new.
However, they readily break down in the face of inclement weather and extended UV exposure. Without regular maintenance, they will begin to lose their protective properties in as little as 10 years. As such, homeowners are increasingly looking into more robust roofing materials such as metal, slate, and composite shingles. While these products will be a bit more expensive upfront, they are rated to last 50+ years and offer the highest level of fire, moisture, and impact resistance on the market.
Fortified Windows
Degraded windows offer the path of least resistance for exterior pressures. Air, moisture, and pests can easily find their way through weak window-to-wall transitions. Not only does this wreck the energy efficiency of the home, but it can compromise the structural integrity of the building envelope. A blower door test can help identify any air leakages through the windows. If the leak is small enough, it can often be fixed with a high-quality water sealant.
More extensive issues may require a complete window replacement. Prioritize modern aluminum frames over wood and vinyl, as they will better withstand UV exposure and severe weather. In areas known for high winds, insurance companies will look favorably upon homes that use hurricane-grade storm windows. This advanced window system uses structural steel frames and reinforced glass panels for the ultimate protection. Capable of withstanding winds up to 250 MPH and projectile impact up to 100 MPH, hurricane-grade storm windows reduce the risk of loss during natural disaster conditions.
Improved Exterior Landscaping
Landscaping does more than increase curb appeal. It plays a crucial role in promoting the structural integrity of the home as well. Some simple landscaping measures that lower a property’s risk include:
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Trimming any dead tree branches overhanging the home
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Regularly removing dead leaves and other dried vegetation
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Keeping the lawns free of clutter that may harbor pests
It is also important to ensure that the exterior of the home is adequately drained to protect the foundation and building envelope. In addition to robust flashing and gutter systems to keep runoff flowing away from the home, it is also a great idea to consider flat roof flooring options.
When comparing porcelain vs concrete pavers, it is worthwhile to look into modern composite pavers as well. Composites are not only durable, lightweight, and easy to work with, but they offer some of the best drainage features in the industry to limit the threat of moisture damage in homes that feature rooftop decks or other flat roofing systems.
Home Security Systems
When planning to protect their home against loss, many homeowners immediately think of natural forces such as fire, flood, and earthquake. However, the threat of human-induced damage is just as real. According to Experian (2020), insurance providers paid out an average of $4,415 per theft-related claim on homeowners’ policies.
Therefore, any features that will deter theft and vandalism will reflect favorably on premiums. Home security systems with front porch cameras are a great place to start. Opt for deadbolt locks with smart alerts. Install motion-detected lighting so any suspicious activity is clearly visible after dark.
Enhanced Decking
With more and more properties prioritizing functional exterior space, insurance companies are taking a closer look to see if these types of outdoor hangouts are safe. One of the most common outdoor features is an attached deck. Because many decks are elevated off the ground and house barbeque grills, they can become quite the liability if not properly accounted for.
As the wood deck remains the most popular type of material, consider upgrading to robust ipe wood decking for enhanced fire and rot protection. It offers a rustic wood appearance to rival standard cedar or redwood with durability and fire resistance more comparable to that of concrete or steel decking.
The Most Strategic Renovations for Lowering Home Insurance Premiums
Although it can be challenging for homeowners to obtain affordable insurance coverage for their properties, there are some steps they can take to improve their chances. By considering any of the risk-lowering renovations listed above, insurers are more likely to reward your efforts via lower homeowners’ premium. For more of the latest insurance trends, explore the resources at Barber Insurance for the leading insights in the industry!
Author Bio:
Roger Marx is a freelance writer that loves sharing his knowledge and expertise on the latest trending building and design products. He lives in Minneapolis, Minnesota where he enjoys spending time with his wife and working on backyard projects in his spare time. Roger’s work as a freelance writer can be found on Building Product Advisor, a construction industry resource site.