The peace of mind provided by hom insurance coverage is sometimes offset by the cost to maintain a home insurance package. Thankfully, there are several ways to reduce home insurance costs, and in this article, we have outlined the main four products along with some tips that can save every homeowner a few dollars.

A Central Station Alarm

One of the most important things that home insurance covers is property loss through fire or theft. According to recent studies, on average, in the United States, a burglary happens every 26 seconds. In addition, the FBI has indicated that houses without a security system are three times more likely to be burglarized than those with a visible central station alarm.

With this in mind, many home insurance companies will lower their overall insurance costs by up to 20% if a home is covered by a central station alarm. This is due to the reduced chance of theft, as 90% of convicted burglars have indicated that they are less likely to target a home with a working security system.

Along the same thread of thought, houses covered by fire alarms can also see a reduction in the price of their insurance. Again this is because the coverage could lead to reduced chances of damaged property and thereby save the insurance companies from paying the homeowner.

Automatic Water Shutoff

Insurance companies pay millions of dollars every year to homeowners due to water damage. Unfortunately, something as simple as taking a vacation can often turn into a disaster, depending on the severity of the leak. Often times homeowners might be at home and yet still unaware of the damage being done by a leak.

So it should come as no surprise that installing an automatic water shutoff could potentially save homeowners hundreds of dollars in home insurance costs. An automatic water shutoff functions by shutting off the water in the home upon detecting a leak in the pipes or high levels of water on floors. Thus preventing unnecessary water damage and saving the homeowner both money and time.

Deadbolt Locks

In the line of theft protection or vandalism, a deadbolt lock offers a sense of security that can often lead to an insurance company shaving a few dollars off its overall price. Unlike standard locks that can be pried open using a credit card, knife blade, or any other flat object that can fit into the lock, a deadbolt lock is not spring-activated.

The complexity of a deadbolt lock can deter criminals who are not put off by the signs of an active alarm system. Grade 1 deadbolt locks have even stood up to kicking, picking, hammering, and prying, ensuring that even the most determined thief will be deterred.

Storm Shutters 

When assessing your property for insurance, companies will consider the geographical positioning and any weather patterns that can lead to potential damage. In particular, homeowners with houses in areas prone to hurricanes and storms will often find that their overall costs are somewhat higher due to the risk of damage.

Installing storm shutters can often lower these prices. This is because storm shutters not only protect residents in the case of a storm, but the product also allows for the protection of property that insurance companies would have had to pay for.

Tips And Tricks

Along with the products mentioned, homeowners can save on their insurance by updating potential hazards such as roofs. Homeowners can also save by taking advantage of coupler discounts and umbrella policies to lower the overall price of their home insurance.