Simple Home Investments that Can Save You Money

By theadmin

When you think of renovating your home, you may feel nervous about the big expenses. But some home investments can put money back in your pocket by increasing your home’s value and earning you a break on your homeowners insurance.

Upgrading your roof can give you serious payoff for your renovation dollar — while also improving your home’s looks, boosting its resale value, and keeping your family safer. Upgrades that make your home more secure — and therefore less susceptible to damage — can be equally advantageous. Texas Farm Bureau Insurance Agent Greg Harriss of Missouri City helps explain.

Metal Roofing

Metal roofs cost roughly twice as much as standard asphalt shingles. However, metal can earn you a 20 percent discount on your premium and last anywhere from 50 years to a lifetime, depending on the materials and the quality of the installation. Compared with shingles, which tend to last 10–20 years, this can be a good investment.

Impact-Resistant Roofing

Class 4 roofing materials are the most durable and can withstand hurricane-force winds and 90-mile-per-hour hail with little to no damage under most conditions. A properly installed Class 4 impact-resistant roof can earn you a premium discount of as much as 35 percent, as long as the new roof is properly inspected after installation. For more information on roofing the right way, visit disastersafety.org.

Home Security

A home security system monitored by a central dispatch center can earn you an insurance discount of 5 percent. Keep in mind that Texas Farm Bureau members can receive free equipment worth $850 from ADT.

New Pipes

If your home has had more than one damage claim for plumbing leaks, replacing the pipes can prevent further problems and may be required by your insurer.

New Wiring

If your home was built between 1965 and the mid-1970s, it may have aluminum wiring, which is a fire hazard. Many insurers require it to be replaced before they’ll write a policy.

Storm Shutters

Installing storm shutters is a good idea particularly if you live near the Gulf Coast or in an area susceptible to extreme weather. Getting them professionally installed will ensure they are properly anchored and will withstand the storm.

The key to a secure home is the right homeowners policy. Ask your Texas Farm Bureau Insurance Agent about potential discounts on your homeowners insurance when you’re ready to renovate.