Almost every year, the escrow amount on your home mortgage changes. It usually goes up because either your taxes increased or your homeowners insurance premium increased. There is not too much you can do when the local government in Laurel, Maryland or Washington (District of Columbia) decides to increase property taxes, but, there are things you can do to lower your home insurance premium.
Insurance companies like it when you take good care of your home and do regular maintenance. Everything from keeping your lawn cut and trimming your trees to adding a new paint of coat can enhance the value of your home. While a little tender loving care is always good, insurance companies will usually not reward you unless what you do will reduce the chances that they will have to pay out a claim.
One of the ways you can get the cost of your home premium to go down is to get a new roof. If your roof is twenty years old, it may only have a few more years of useful life before it begins to fail. The chance of your insurance company having to pay out a claim because of a faulty roof will be lessened if you install a brand new roof. You may get a five or even ten percent break on your premium when you replace your old roof.
Another of the ways that homeowners save money on their home policies is to install safety equipment such as smoke detectors and burglar alarms. You could also lower your premiums by installing storm windows and doing certain upgrades such as adding a new furnace.
If you would like to know more ways you can lower your homeowners insurance cost in Maryland or the District of Columbia, please give us a call. An independent agent will be happy to offer some suggestions and get you some quotes for your home.