As a real estate professional, part of your role is to help clients make informed decisions that not only enhance their homes’ value but also provide long-term savings.
An often overlooked opportunity is advising homeowners on upgrades that can reduce insurance premiums while improving the property’s safety, resilience and appeal. Zoocasa reported on these 10 key improvements to share with your clients.
1. Install a security system
Encourage clients to invest in modern security systems with cameras, alarms, fire and carbon monoxide detection and smart locks. Insurers often reward homeowners with premium discounts for reducing theft and burglary risks.
2. Upgrade the roof
A durable, weather-resistant roof lowers insurance risks significantly. Suggest materials suited for local weather challenges, such as impact-resistant shingles, especially in storm-prone areas like Ontario or Alberta.
3. Add storm shutters or impact-resistant windows
For clients in areas with severe weather like snow or rain storms, these upgrades provide extra protection and demonstrate proactive risk management, leading to potential insurance savings.
4. Update electrical wiring and plumbing
Highlight the importance of modern wiring and plumbing systems to reduce fire and water damage risks. This is especially crucial for older homes.
5. Enhance surge protection
Whole-house power surge protection safeguards electronics and electrical systems, lowering risk profiles and qualifying homes for potential insurance discounts.
6. Use fire-resistant materials
Non-combustible siding like stone or brick, and fire-resistant insulation and roofing can significantly reduce fire risks and lead to lower premiums for clients.
7. Upgrade heating systems
Recommend modern, energy-efficient heating systems, like natural gas furnaces or electric heat pumps, to reduce fire hazards and enhance energy efficiency. Clients can save on utilities and insurance.
8. Install a sump pump or backflow valve
In flood-prone areas, these upgrades protect basements and electrical systems from sewage and water damage and may qualify homeowners for reduced premiums.
9. Consider fire sprinklers
For dry or high-risk fire areas, a sprinkler system can control fires early, mitigating damage and often resulting in lower insurance costs.
10. Maintain a clean property
Regular maintenance—like clearing gutters and trimming trees—improves curb appeal, prevents avoidable damage and keeps insurance claims at bay.
By advising your clients on these upgrades, you position yourself as a knowledgeable professional who prioritizes their best interests. These improvements not only reduce insurance costs but also enhance a home’s appeal and marketability, giving your listings a competitive edge.
