Insurance Discounts: How Impact Windows Can Lower Your Premiums

Home insurance is one of those unspoken hidden costs of home ownership. First-time buyers just starting, may be unaware this is even necessary or what it will cost, but the fact is that home insurance offers peace of mind and acts as a safety net. Knowing it’s necessary and then digesting the cost of premiums are two different things though.

Did you know that there are things you can do to your home that not only make it a more comfortable and safer living environment but also lower your premiums? Impact windows can do just that, offering you a whole host of benefits including lowering your home insurance premium. So let’s take a closer look.

Understanding Homeowners’ Insurance

Simply put, home insurance is meant to cover the cost of damages and losses should something happen to your property. It’s not just the property it covers, but also the contents inside your home. While each policy may differ slightly, generally speaking, it will cover damage and loss that relates to the exterior of the home, the interior, the loss of personal assets in the home, and even injury that occurs on the property.

Just like with car insurance, there is a liability limit, which means there is a maximum payout for an insurance claim. There is also a deductible which will vary based on the insurance coverage and the package chosen. The deductible is the amount the policyholder will need to pay out of pocket, the remainder is then covered by the insurance company (up to the liability limit).

Wondering how insurance premiums are calculated? It’s a formula that takes into account a variety of risk factors. These factors then lower or raise the premium.

Some of the factors used to calculate the home insurance premium are:

  • Property value
  • Location
  • Type of coverage
  • The deductible
  • Liability limit (standard liability limits are usually $100,000)
  • How close are hydrants and fire halls to the home
  • Age and construction of the home
  • Size of the home
  • Renovations, upgrades, and betterments of the home

How the premium is calculated and what’s included in the coverage are things homeowners should be asking a potential insurance provider before signing on the dotted line.

How Impact Windows Affect Insurance Premiums

As mentioned above, home improvements and betterments are something that can affect insurance premiums. This is something that homeowners may find particularly interesting as this gives you some control over the cost of the premium. Knowing you can make specific enhancements and investments that will offer a great return on investment, plus bring down home insurance premiums is a win-win.

One upgrade that can have a cost-benefit effect is impact windows. Did you know that installing impact windows and doors throughout the home can bring down your insurance premium thereby saving you money?

Currently, the average yearly cost of home insurance premiums here in the United States is $1,300, but there are many states where that number is much higher – even double the rate. Florida is notoriously known for having very high insurance premiums due to the high risk of natural weather disasters. Should you live in a coastal home in Florida, the premium increases again.

Insurance companies look favorably at impact windows because they can effectively cut down on the number of insurance claims. Less insurance claims equals less money paid out by the insurance company, which is the kind of odds they like.

Installing impact windows means your home will have much better protection against strong storms and severe weather. Impact windows and the frames used are incredibly strong and can hold up to high wind speeds and flying debris. If your windows aren’t breaking during a storm, the amount and the cost of damage are greatly reduced.

Another benefit that insurance companies look favorably on when it comes to impact windows is that they can offer much better protection against intruders. It takes a lot of time and effort to break the windows, so gaining access to your property is much tougher. Again, that cuts down on insurance claims since you are less likely to be a victim of home robbery.

When you create the kind of environment that has a lower overall risk factor, insurance companies reward you with a lower premium.

Qualifying for Lower Insurance Premiums

It should be stated, however, that qualifying for lower insurance premiums is something you want to look into fully before proceeding. Each insurance company will have its stipulations for how you qualify for a discount or credit.

In terms of impact windows these stipulations could be such things as the windows being installed by a professional, the materials used for the windows, certifications, and so forth. It’s wise to contact your home insurance provider and get details specifically related to impact windows. Let them know you’re interested in having them installed and how would you go about qualifying for a lower premium. 

As for how the policy discount is applied, it can show up as a reduced rate on your bill or as a credit.

Other Factors Influencing Insurance Premiums

Saving money on your home insurance premiums by installing impact windows is a great

start, but what else can you do to lower the cost? The fact is that some factors are out of your control. For example, you can’t change the location of the home so just know that some areas will carry higher insurance rates.

Things that are in your control however are installing protective measures such as a home security system. Worth noting, you’ll want to speak to your insurance provider about what type of home security system qualifies for a discount as it may need to be professionally installed, be monitored, and offer a live video feed. 

Experts also suggest looking for other ways to enhance home security such as additional locks on doors (deadbolts), locks on windows, and maintaining a good credit record. You can also choose to increase your deductible, but remember that means your out-of-pocket expenses will be higher should you have a home insurance claim.

The Time to Lower Your Home Insurance Premium Is Now

So if you’re ready to look into the many benefits of installing impact windows in your home, and take advantage of lower home insurance premiums, be sure to give us a call at (305) 925-0818. We are happy to answer any questions you may have and provide you with a quote.



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