So, what’s an electrical service contractor doing by writing about homeowner’s insurance? We’ll get to that in a minute.

But first, let’s acknowledge the fact there are only so many losses you can prevent, or at least prevent entirely. Unfortunate accidents can and do happen, such as burglaries, vandalism, fire, the after-effects of a natural disaster, and so on.

Then again, there are certain things that are in your control and that, if successfully put into practice, can reduce your monthly premiums. And when money gets tight, every dollar helps.

Here’s how you can help your own cause.

Age

As a rule, older homes cost more to insure as maintenance and repair issues are bound to become more frequent and costly. Plus, older homes are more prone to things like water damage. So, to save some money and better protect your home, consider shoring up your foundation, replacing or repairing your roof, and replacing old, corroded water pipes.

Construction

A home with wood siding is a greater liability than stone, brick, or vinyl. All these options are more fire resistant and stand up better in severe weather.

Location

Insurance rates very by state, city, neighborhood and even by street. Frequency of tornados, hurricanes, and other storms, proximity to water, and crime rates, are just some of the factors that can impact insurance premiums. So, if you’re thinking about moving, take these factors into account.

Remodeling and Extras

Sure, updating your kitchen or bathroom adds value to your home, but full remodels, additions, or other major renovations can also up your premium because they are more costly to repair or replace if damaged. What’s more, adding a pool or trampoline can cause insurance rates to spike because of the added risk.

Home Business

If your home office consists of a computer, desk, and maybe a printer, you likely won’t require additional coverage. However, if you are running a business from your home that includes electronics, inventory, a dedicated business vehicle, and more, you may need additional coverage.

Your Profile

Did you know that single homeowners are considered a greater risk than couples? Also, insurers may peek into your personal credit history, outstanding debt, pursuit of new credit, and previous insurance claims history, regardless of marital status. It may not seem fair or relevant, but it’s real.

Risk of Fire

Do you live near a fire station or have a hydrant near your property? You may see up to a 4 percent decrease on your premium. However, if your home is equipped with a wood-burning stove or fireplace, each could increase your premium by an average of 2 percent.

And now to answer your opening question about why Excel Electric is telling you all this. You see, there are all kinds of ways a fire can break out in your home, including from faulty wiring. The older your home, the greater the risk. So as one effective way to shore up your home defenses and help bring your insurance costs down, contact us today to request a whole-house wiring and safety inspection. It’s not just about saving money – it’s about saving lives.