Everyone loves upgrading their home. As our families grow and change, we ask our homes to grow with us. Choosing where to upgrade your home can be fun, but also expensive. The good news is there are a few upgrades that can save you money on your Homeowners Insurance every year, this can add up to huge savings and help offset the cost of your home improvements.

One of the best upgrades is installing a home security system.

For most people, our home is the largest asset we own. They provide us with a comfortable and safe place to raise our families and protect our cherished memories and belongings from theft.

Here are a few ways you can increase the value of your home, protect your largest financial asset, and save money on your homeowners insurance by installing a home security system.

Install a Home Security System

Many Home Insurance companies offer discounts on your premiums if you install a burglar alarm or sophisticated systems like those sold by Brinks. These systems have become very complex and modern over the last 10 years. They have gone beyond the traditional anti-theft solutions to provide comfort and energy savings to millions of consumers.

These systems can oftentimes be financed and come with add-ons that can make your home energy efficient (saving you even more MONEY). The monthly savings in energy usage and homeowners insurance premiums could offset a large portion of the cost to install your home security system.

Home Security Systems normally have free financing over a set amount of years. After this initial finance period, you’re now getting 100% of the savings from your security system.

Upgrade Your Electrical

Electrical fires are one of the most common preventable accidents in the American home. According to data collected by the United States Fire Administration, more than 28,000 electrical fires occur annually. These small fires cause $38,000 in damages on average

Electrical fires occur due to old and faulty wiring in homes and represent a significant risk for home insurance companies.

This risk is passed on to you in the form of higher premiums.

If you’re installing a home security system, you could take the opportunity to upgrade your electrical wiring. Many homes built 40-50 years ago aren’t prepared for modern electronics like tablets and large appliances.

Upgrading your home’s electrical wiring helps protect these valuable electronics by ensuring you have a steady supply of power without changes in voltage.

Here a few circumstances that may warrant an inspection from a certified professional or an upgrade to your home’s wiring.

  • Home is older than 40 years
  • Relying on extension cords for power
  • Made major home improvements or added major new appliances
  • Home has ungrounded, two-prong outlets
  • Home has aluminum instead of copper wiring

Protect against an electrical fire by keeping an eye out for signs of hazardous wiring and having your electrical system inspected by an expert can protect irreplaceable items like family heirlooms and non-digitized photos.

It’s also important to note that some homeowners insurance policies don’t cover repair costs related to faulty wiring. Always hire a professional to work on complex systems like electrical on your home.

Safety isn’t the only reason to upgrade your wiring.

A recent survey by Coldwell Banker Real Estate showed homebuyers are more interested in homes with smart features and technology than they were just two to five years ago. This could make your home easier to sell in the future.

Some of the most common smart home features are:

  • Dimmers
  • Voice-controlled systems
  • Smart Thermostats
  • Mobile Apps
  • and other convenient upgrades

It’s also a great time to consider future electrical needs and move outlets to accommodate your lifestyle. Wall mounted televisions look clean and seamless when the power outlet is located directly behind the television.

Add Sensors and Detectors

One of the most important factors in preventing significant damage to your home in case of a fire or flood is emergency response time.

Many home security installation companies offer sensors to detect gas leaks, extreme temperature changes, and smoke.

Many home insurance companies recognize the value these automated systems have on protecting your home by utilizing early detection.

For example, a freeze alarm can detect when your pipes are susceptible to freezing or bursting. If you have a Nest Thermostat or another smart thermostat, it can turn on automatically and increase the temperature in your home to prevent flooding or severe damage.

Home Security systems don’t just keep bad guys out, they let the good guys in.

Top home security companies offer 24/7 monitoring from dedicated home security advisors. These advisors will be notified as soon as an alarm goes off and will attempt to reach you immediately. If they don’t receive a response, they will send emergency response teams to your home and can even allow them to enter the home in case you are incapicitated or unable to open the door. If you’re left at home or are caring for an elderly person, these systems can be life saving.

How much can you save on your annual premiums?

Every insurance carrier is different, but on average, you can expect to save 3-5% on your homeowners insurance every year. To find out how much you could save, contact All Nation Insurance to get a homeowners insurance quote or review your existing policy.