Insurance is a type of risk management business and your insurer calculates your insurance premium based on the assessed risk that they have over the items you are trying to insure. Take for instance your home. If your home has many assessed risk issues, then the home insurance premium calculated by your insurer will be much higher as opposed to not having any risk issues at all.
This is the very reason why when getting home insurance, you should be smart and try to remove all risks involved that the insurer will likely construe as something they may have to pay for on claims later on. If you do not have any risks involved, the insurer will deem that they have very little risk with you and thus lower your home insurance premium.
The thing is, how do you exactly do this – lower your assessed risk? As mentioned earlier, you should take note that your insurer calculates your premium based on their assessed risk with you. There are two ways on how you can overcome and succeed with their risk assessment of your home:
Make your home safe – if you own a big dog that is not really a cherished pet in the family, try to get rid of it. Big dogs that are of the biting kind are risks for the insurer and may even deny you insurance if you own a big dog in the property. If you have a swimming pool in the property, then this is another assessed risk as drowning of little children can become a means to make claim. This assessed risk can easily be lowered by constructing a gated fence access to the pool area. By removing easy access to the pool area, you create a lower risk for your insurer.
Make upgrades – one of the reasons you buy insurance is to protect your home from the loss coming from theft. By making necessary upgrades like replacing your door locks and window locks with more robust and secure mechanisms, you will have a more secure property that cannot be easily penetrated to by burglars. Aside from replacing lock systems, try installing round-the-clock surveillance system. The security cameras installed act not only as deterrents for would-be burglars, but the footages they take also acts as video evidences of the breaking and entering of burglars into your property. Nevertheless, the installation of a surveillance system in your property will definitely help lower your home insurance.