04/05/2022
One of the questions we often get as agents is what updates to a home can give the most “bang for the buck” as far as reducing homeowner insurance premiums. One thing to remember is that when looking at what causes premiums to increase or decrease, most insurance companies will consider what increases or reduces risk of a claim. What may raise the value of a home for resell (such as updated kitchen, bathroom, etc.) may not always reduce an insurance premium for that home. What we have seen make a positive (i.e., reduce or discount a premium) impact are updates or repairs to mechanicals or parts of the home that are considered essential. Updating furnace, air conditioning, water heater is always looked at as a good thing. Also updating the electrical (panel and wiring) can help, as well updated plumbing. The one BIG item that can really impact your homeowner premium is updating the roof. Replacing the roof can reduce the premiums by hundreds of dollars per year in many cases as it reduces risk of damage in a storm or failure from “wear and tear” which can cause other issues such as water damage. If you have updated your home’s roof in the past few years, make sure you let your agent know that to update the policy information to reflect the best pricing available. For questions about this or any other insurance question about your home, or to quote a price with one of our many insurance company options, please contact me at 412-384-7191 or [email protected] You can also visit our agency website at yinzersinsurance.com!
