Becoming an Adult

4 Home Repairs That May Lower Homeowner's Insurance Premiums

3 November 2016

Robin King

Owning a home comes with a variety of maintenance tasks that can seem costly and never-ending. Some home repairs however pay for themselves through long-term savings, both in energy costs and lower premiums on homeowners insurance. So whether you're grumbling about your home's to-do list or excited to break out the toolbox, consider these four home repairs that could save you hundreds in the future.

Check Your Home's Roof and Plumbing for Leaks

While many homeowners insurance policies protect against water damages from storms or other natural disasters, leaks that occur because of normal wear and tear are usually not covered. Keeping your roof in good repair is an efficient way to prevent all kinds of water damage both inside and outside the home.

Make it a habit to check for leaks regularly -- perhaps with the changing of the seasons, every few months or anytime you're outside around the yard. Look for any broken or missing shingles or roof tiles and replace them as soon as possible. Glancing at your roof only takes a few minutes, so this is easy to do.

Leaky pipes and faucets inside can also be causing you to pour money down the drain. Even slow faucet drips can cost more than 3,000 gallons of water per year, all of which you're still paying for on your utility bill. If left unattended, a leaky sink can cause thousands of dollars of water damage to cabinets, flooring, drywall, and other parts of the home. Checking sinks, showers, bathtubs, dishwashers, and washing machines regularly can make a big difference. These small repairs can also be noticed on a home inspection, or you may need to send proof to your homeowners insurance company. They will then be able to determine if a change in premium is merited.

Update Your Home's Electrical System

Homeowners insurance premiums will often recognize when a homeowner updates an electrical system that was outdated. Especially older homes are likely to contain systems which don't comply with new codes, costing homeowners money on their monthly premiums.

Find your state's current electrical coding standard, which will give you an idea of what codes and regulations apply to your home. Remember, electrical work and repairs should always be conducted by a licensed electrician.

Waterproof Your Home's Basement

Though waterproofing a basement may sound like a big job, there are a few simple steps that can prevent groundwater from seeping into your home. Taking the time to accomplish these tasks will save money by preventing mold and mildew and may be able to cut homeowners insurance premiums if you provide proof to the insurance company of your improvements.

Check for cracks in basement walls and flooring, and seal them with caulking or another waterproof sealant. Installing a sump pump will also ensure that any water that does seep in will be redirected outside.

Protect Your Home from Pests

Though most homeowners may not think of pest control as a home repair, having a plan in place for keeping out unwanted guests can save thousands of dollars in costly repairs. The usual suspects like termites, carpenter ants, and carpenter bees can often live undetected until they've caused thousands of dollars in damages. The good news is that some homeowners insurance companies will cut premiums if there is an established pest prevention system in place.

Do your best to seal all cracks in exterior walls and siding, as well as fixing gaps in door frames and windows where pests are likely to enter. It may also be a good idea to hire a pest control company to perform routine checks or recommend other preventative measures specific to your home.

To learn more about homeowners insurance, contact a site like http://www.unitedsecurityagency.com.

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