Many consumers have faced rapidly escalating insurance premiums on their homeowners insur-ance during the last few years. In some cases, consumers have experienced difficulty in procuring insurance, particularly people with several claims. However, there are numerous measures that consumers can take to lessen the possibility of future losses, resulting in more readily available insurance down the road and more affordable premiums.
The following tips offer ways of saving premium dollars and reducing losses on your homeown-ers policy.
1. Replace washing machine hoses when they show signs of deterioration. Consider replac-ing them with stainless steel hoses, for which your insurer may provide you a discount. The hoses should also not rub against the wall. In addition, turn off the washing machine water faucet when the appliance is not in use to prevent leaks.
2. Maintain your roof in optimal condition. A quality roof inspection on a periodic basis can identify sections that need repair and thus prevent water losses. Roofing materials con-taining high wind resistance features should be considered in windstorm-prone areas.
3. If you experience a water leak, make sure it is properly repaired and promptly remediated, which can include the removal and replacement of building materials such as sheetrock. For larger water leaks, a professional who specializes in remediation should be called in. These measures will reduce the possibility of hazardous and expensive mold losses down the road.
Source: International Risk Management Institute, Inc.