Will updating my home make my insurance cost more?
Will making improvements to my home that better protect it from loss cost more on my insurance policy? We noticed that the roof was looking a little ragged, so my wife and I decided to give our home a much needed facelift. We updated the roof, added storm shutters, had the siding painted, and installed a pretty high-tech fire and alarm system. It didn't occur to me until recently that I might need to inform my agent about these changes.
- Home safety/security discount–average savings between 2%-15%
- New roof/roof age discount–average savings between 5%-35%
- Storm shutters/safety discount–average savings between 10%-15%