Homeowners insurance covers damages and losses involving your home, such as fires, lightning strikes, and burglaries. As a home’s value increases, so do the repair costs. As a result, monthly premiums may rise over time. Fortunately, you can lower these rates by reducing the risk of damage and loss. If you’re unsure how to do this, follow these three tips. 

How to Lower Homeowners Policy Premiums

1. Get Storm Shutters

Many homeowners insurance claims involve windstorms, hail, and other intense weather. Put storm shutters on windows and doors to protect your home from the threats of approaching storms.

These protective barriers help prevent flying debris, wind, and hail from breaking window glass and entering your home, causing further damage. In general, the higher the quality of the shutters you purchase, the more of a discount you’ll receive from your insurance company. 

2. Update Electrical Wiring 

The insulation on your home’s electrical wiring can be ineffective, especially if it’s very old, or if it’s been chewed on by rodents or punctured by nails that were hammered into walls. Disintegrated insulation leaves your wires exposed and more likely to produce sparks that can cause a fire.

Homes with greater fire hazards generally have higher homeowners insurance premiums. Have an electrical contractor make sure your wiring is properly insulated, and update it if it’s not. Wiring that’s over 30 years old is likely to cause a fire.

3. Purchase Centrally Monitored Safety Alarms

You probably already have a smoke detector and fire alarm. While these devices offer protection, they likely won’t reduce your premium unless they’re centrally monitored. Centrally monitored smoke detectors and fire alarms immediately alert the fire department when activated, which means you won’t need to call them yourself.

Consider a centrally monitored burglar alarm, which immediately alerts the police when activated. Because these devices lower your home’s risk of damage and loss, your insurance company may offer you a lower monthly premium. 

If you’re searching for affordable and comprehensive homeowners insurance, turn to Pearson & Barnes Insurance. Serving residents of Somerset, KY, and the surrounding areas, these agents have over 25 years of combined experience helping people find the perfect policies to fit their needs. This independent and locally owned and operated agency also offers a variety of other policies, including auto, business, and life insurance. Learn more about their services online, and call (606) 679-1450 for a quote.