Forward Bank

Home insurance rates are increasing nationwide, but there are practical steps you can take to reduce your costs. By making improvements to your home that enhance safety and limit the frequency of insurance claims, you can often earn discounts and credits from insurers.

Replace your roof

Insurance companies view a newly constructed roof as less prone to damage and offer lower premiums accordingly. By comparing quotes and opting for wind- or fire-resistant materials, you can further reduce costs.

Add a security system

Installing protective features such as deadbolts, fire alarms or a fully monitored security system can lead to substantial savings on homeowners insurance premiums. The effectiveness of the security device determines the discount amount.

Upgrade home systems

Outdated home systems often contribute to accidental fires and water damage, leading to frequent insurance claims. By upgrading your internal systems, such as replacing aging pipes and electrical wiring or installing a new HVAC system and water heater, you can lower your insurance rates.

Invest in smart home technology

Insurance companies increasingly offer policy credits and discounts for investing in smart home devices that enhance safety. Smart locks, water leak detection systems, and gas leak or freezing pipe sensors are examples of valuable investments.

Lowering your home insurance rates is achievable by taking proactive steps, such as upgrading your home systems and investing in technology to make your home safer and reduce the likelihood of claims. Check with us to learn whether a new product or system will increase or decrease your insurance premiums. We’re always here to help.