Ways To Decrease Home’s Insurance Cost Charleston, SC

The factors that determine the cost of your home’s insurance expenses varies greatly as one can imagine. However, here in Charleston SC there are additional concerns that we have to consider like; wind from hurricane’s, flooding from, and the intense heat our summers bring. All these contribute greatly to the longevity and strength of your home’s structural integrity. Age of a home is one of the largest negatives when it comes to the price of house insurance because the older the home the more likely there are defective, outdated, and deficient structural components that are likely more apt to fail or be at greater risk. The design of the house is also a huge consideration to carriers when quoting your policy. When considering buying a home it’s a good idea to look at a newer home (no more than 20 years old) if saving money is something you are concerned with. If your home was built in 2008 or later, make sure you are getting credit from your insurance company for having a home that meets modern building codes. Also, if your home has a hip roof – a pyramid-like roof that slopes on four sides – be sure your insurer is factoring that into your rate, because hip roofs are more hurricane-resistant than gable roofs.The amount of the incentive varies according to risk associated with the geographical location, building materials, and construction methods of each home as well as actuarial data from individual insurance companies. (Discounts apply only to the hurricane-wind portion of your policy; contact your insurance agency for more information.)Considering all this, you may still qualify for a DISCOUNT ON YOUR HOMEOWNERS INSURANCE. To qualify you must submit an inspection from a state certified wind mitigation inspector, licensed contractor, building inspector, architect, or engineer, legally validating and identifying the existence of any wind mitigation measures such as below: (Insurance providers will have the form needed to give to one of the experts listed above).

FACTORS THAT DETERMINE COSTS:

1. Roof Shape
2. Roof Deck Attachment
3. Roof Covering
4. Roof to Wall Connectors
5. Window Protection
6. Door Protection
7. Secondary Water Resistance (barrier)
8. YEAR BUILT
9. Updated Electrical system
10. Secured and improved foundation
11. Replace with new Roof
12. Remove large tree limbs hanging in or around home
13. Type of Windows (quality and impact resistant wind rating)

 * For Flood Insurance – Newer foundation Vents (such as smartvents.com)If you have a hip roof, permanently installed approved shutters for windows and doors or any of the above credits you may qualify for discounts on the wind portion of your insurance policy.The most likely discount for home- owners to overlook is roof tie-downs, generally metal clips or straps attaching the roof structure to walls of the home. Qualifying roof tie-downs can result in an annual premium discount in the low single-digits, but that could add up to real money if you’re owed a retroactive discount.

Info Gathered From: American Property Consultants

Keep in mind that each year it is very likely your insurance premiums will increase and honestly for no other reason than your insurance provider wants to make more money, and feels they can justify the increase because the house is one year older. So it’s a good idea to shop your home’s insurances EVERY year to save money.