Laurie Marinelli  Personal Insurance Manager, CPCU, CIC, AAI, AIS 

Many consumers have faced rapidly escalating insurance premiums on their homeowners insurance during the past few years. In some cases, consumers have experienced difficulty in procuring homeowners insurance, particularly people with several claims. However, consumers can take numerous measures 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 reducing losses on your homeowners policy.

Replace washing machine hoses when they show signs of deterioration. Consider replacing them with stainless steel hoses. 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.

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.

Consider an automatic water shut-off system for your home. This type of system has sensors that detect water leaks. These sensors then send a wireless signal that interacts with the shut-off valve to turn off the water to the home.

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 containing high wind resistance features should be considered in windstorm-prone areas.

Ultimately, the purpose of insurance is to protect you financially in the event of an unforeseen loss or major catastrophe. By keeping your home in top condition, you prevent situations that could increase your costs or result in a more difficult time obtaining insurance for your property.  If you have questions about how maintenance and other loss prevention issues may impact your insurance protection plan, we're glad to discuss them with you.

Copyright 2013
International Risk Management Institute, Inc.