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Top Tips Archive | Home Insurance Savings Offset Renovation Costs

<< Back to Top Tips Archive $0 Net Spend for Home Repairs and Updates that Reduce Home Insurance

$0 Net Spend for Home Repairs and Updates that Reduce Home Insurance

We all want to make improvements around the home, but sometimes they simply aren't feasible. Most Americans are already in debt, and it might not make sense to add to the burden even more just to fix up a house a little.

Except with these repairs, updates, and renovations.

Some work you do on your house will earn rewards from home insurers. That's right, you can cancel out the cost of home improvements with lower home insurance rates. It might take some time, but long-term thinking is essential for homeowners.

Here's how it works:

  1. Assess the age of your water, heating, cooling, insulation, and electrical systems in your home
  2. Find out if there are any damages or weaknesses
  3. Calculate the cost of repairs and updates
  4. Find out from your insurance agent what you can expect to save with the proposed improvements
  5. If it offsets your costs, do the work and call your home insurance to update your rates

Some suggestions:

  • Update Your Water Service Line
  • Paint the House
  • Add Fire Retardant
  • Redo Electrical Wiring
  • Install New Energy-Efficient Air Conditioning
  • Switch to Clog-free Gutters
  • Replace Wood-fire Fireplace with Electric and Seal Chimney

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