Upgrading your home can be a pricey venture. The cost of adding the latest improvements and technologies can be offset with some surprising savings. Beyond adding to the overall value of your home, you can start saving money immediately on insurance. There are several upgrades that will generate discounts from your insurance company. Over time, these discounts can really start to add up. Check out these money saving home upgrades and find out if you qualify for big savings.

New Equipment

Many homeowners mistakenly assume that their existing warranties will cover the cost to replace or fix a broken equipment such as heating, ventilation and air conditioning units or hot water heaters. However, some of these contracts will fall short when it comes to paying the full cost of repairs or replacement. In order to have full protection you can purchase equipment breakdown protection. These policies are offered by a number of Salt Lake City insurance brokers. Remember to contact your agent whenever you upgrade to a new heating and air conditioning unit. You may be eligible for lowered premiums and other discounts.

Plumbing and Electrical

Upgrading your plumbing or electrical wiring is something that many homeowners only do after a disaster strikes. It is also sometimes performed when problems are discovered during remodelling efforts. Always let your insurance company know that you have upgraded your plumbing or wiring as it may make you qualify for lower rates.

Security Systems

Adding a security system to your home can give you an increased sense of safety and prevent your home from being targeted. Statistics show that homes without security are three times more likely to be burglarized. Many people cite the expense as the reason why they have not added an in-home security system. However, the cost can be offset in part by the reduction you can receive in your homeowner’s insurance. These savings run up to 20 percent on average. That is because it greatly reduces the chance you will need to file a claim with the insurance company. Keep in mind that not all types of systems qualify for a discount. Contact your agent to find out what type of system your insurance company recommends.


Making your home less prone to disaster is another way to reduce your insurance rates. If your roof is under 10 years old you should report that information to your insurer. Newer roofs may translate to savings. Installing a brand new roof may make you eligible for a discount. When installing a roof contact your insurance company for recommendations about stronger roofing materials.

One common type of damage is due to hail. Installing a hail-resistant Class IV roof may increase your chances of a reduction in your insurance rates. Installing new siding is a great way to make your home look great while protecting it from the elements. Fire-resistant siding is another upgrade often recommended by insurance companies as a way to reduce costs.