Consumer Alert: Ways to help save money on homeowner’s insurance

Posted: Updated:
EDISON -

Many homeowner say that they find ways to improve their home that will increase the resale value of the home.

But experts say that there are some ways to improve a home that will actually make homeowner’s insurance cheaper.

Experts say that improving the plumbing, adding a new roof or updating a home's electrical system will reduce the risk of fire or flood damage. Consumer Reports found that this can lower rates with some insurance companies by 2 to 6 percent.

“None of these discounts are huge, but if you do a few of them, they can add up,” says Consumer Reports’ Tobi Stagner.

Stagner says that a home security system can lead to a 5 percent discount as long as it is hooked up to an outside monitor. Some insurers will also throw in a percent or two more if the system includes cameras.

Here in the Northeast, where severe weather is a problem, homeowners can get a discount if they install a backup generator in their homes.

“If you have a built-in generator you can get a discount of up to 10 percent depending on the insurer,” Stagner says. “And the reason they do that is that the generator is going to keep other systems working, like a sump pump.”

But experts say that there are some home improvements that can cause insurance rates to increase. Installing a pool will increase liability. Adding an addition to the home, could make the house more expensive to replace. Both will cause rates to go up.

  • ConsumerMore>>

  • New Jersey alcohol board issues new rules for local breweries

    New Jersey alcohol board issues new rules for local breweries

    Monday, September 24 2018 10:52 PM EDT2018-09-25 02:52:58 GMT
    New Jersey alcohol board issues new rules for local breweriesNew Jersey alcohol board issues new rules for local breweries

    The New Jersey Alcohol Beverage Control has issued new rules for local beer breweries to follow.

    The New Jersey Alcohol Beverage Control has issued new rules for local beer breweries to follow.

  • Business Briefs: Weight Watchers, Michael Kors, Pandora

    Business Briefs: Weight Watchers, Michael Kors, Pandora

    Monday, September 24 2018 7:36 PM EDT2018-09-24 23:36:13 GMT

    Weight Watchers will now be known as WW in an effort to expand its brand to overall health and wellness.

    Weight Watchers will now be known as WW in an effort to expand its brand to overall health and wellness.

  • Business Briefs: Sky, Time to Vote, legroom

    Business Briefs: Sky, Time to Vote, legroom

    Monday, September 24 2018 8:57 AM EDT2018-09-24 12:57:03 GMT
    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.
    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."