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Ways to Lower Your Home Insurance Costs

As the cost of lumber and other building materials rises and natural catastrophes strike, insurers are raising the price of homeowners insurance. There are times when spending money today will result in savings down the road.

As the cost of homeowner’s insurance rises, many Americans will have to choose between reducing their coverage or making significant adjustments to their living to save money.

According to the Insurance Information Institute, homeowners’ insurance premiums average $1,398 per year countrywide. The group said that premium prices rose by 11.4 percent on average between 2017 and 2020. The inflation rate was higher than the nation’s 7.9% rate during those years.

Premiums go up because of higher costs for materials and labor.

Homeowners’ insurance is becoming more costly, with a yearly premium of $1,398 on average. From 2017 to 2020, homeowners insurance premiums climbed by 11.4%, and this trend will continue in 2021. Premiums rose by an average of 6.6% in the third quarter.

Home insurance rates are rising because of changes in the real estate industry as a whole. These include increased costs of materials, delays in the supply chain, and a labor shortage. Because of this, insurers have to pay more to restore and replace properties.

Increase in the Frequency of Natural Disasters

The rise in natural disasters has also resulted in an increase in homeowners’ insurance prices. Disasters, such as wildfires and floods, are occurring more often and with greater severity. Over $370 billion in insured damage has been reported to homeowners’ insurance companies since 2017. Because of the rise in catastrophe claims, insurance companies are raising rates on their customers.

Homeowners Have a Variety of Alternatives

There are alternatives for homeowners experiencing higher insurance costs to save money. Improvements to the house that reduce the risk of damage from severe weather are often eligible for reductions from the insurance. The installation of hurricane shutters and raising HVAC equipment will help to avoid water damage.  Or replacing the siding with a non-combustible fire-resistant fiber cement siding may obtain homeowners discounts on their insurance rates, for example.

Homeowners’ insurance may be subsidized via government programs like the federal flood mitigation assistance program. People who have been through repeated floods are eligible for the program. A portion of the grant money goes to homeowners who make flood-proofing measures to increase their house’s elevation. Every year, homeowners should re-evaluate their insurance plans to determine whether a cheaper option is available. Homeowners, after all, must discover new methods to save money in an environment when costs are growing almost everywhere.

Can James Hardie Siding Save You Money on Your Homeowners Insurance?

If you have James Hardie fiber cement siding installed, you may be eligible for a reduction on your homeowner’s insurance.

Fiber cement siding is made primarily by James Hardie, a well-known name in the industry. It is a popular choice for Seattle, Washington, and the general Pacific Northwest region. Their high-quality siding options are available in a wide range of designs and colors, and they are exceptionally long-lasting. This kind of siding offers plenty of extra benefits, and it also looks beautiful on top of that.

Discounted Home Insurance and Siding by James Hardie

If your house has fiber cement siding, be sure to ask your insurance agent about coverage. Before you have any new siding built on your home, it’s worth making a short phone call to verify. Suppose you’re eligible for this insurance reduction. In that case, you may deduct it from the original installation cost, which simplifies your decision even more.

It’s best to contact your insurance provider directly to determine whether fiber cement siding qualifies for any savings. These possible insurance savings may be attributed to a variety of factors. The following are the top three reasons why you can be eligible for a discount.

Fiber Cement Siding is non-combustible

Because James Hardie fiber cement is fire resistant and non-combustible, you may be qualified for an insurance reduction. The siding will not burn and, as such, will not add to a fire. The heat does, however, pass through the siding. The fiber cement will delay the fire, but it will still enable heat to travel through it.
The fire resistance is linked to the material and how it is constructed. Cement, cellulose plant fibers, silica, and water are used in the siding. Silica, in particular, is naturally fire-resistant. The siding is non-combustible owing to the mix of materials and the production technique.

Siding made of fiber cement will not melt or distort. Compared to other siding materials, the fact that it will not catch fire is a significant benefit. Even fire departments have acknowledged this and often suggest fiber cement siding as a result.

If you wish to take extra precautions, you may add one-hour inside wallboard that resists fire to the siding assembly. This might provide you and the firemen vital time to put out the fire and safely exit the house.

Fiber cement siding may qualify for an insurance reduction since flying debris or hail is not as readily damaged as other siding materials, such as vinyl. This makes it significantly less likely to need to be repaired or replaced during a major storm. Insurance companies are aware of this and may reward you by reducing your rate.

Other Resistances and Durability of James Hardie

Fiber cement siding also provides extra resistance, and it is not attractive to pests such as termites or woodpeckers. This will most likely result in a longer life for your siding, fewer items for you to worry about.

This siding’s substance is also water-resistant. When water seeps behind your siding, it may create several problems. Mold, mildew, and decay may all be caused by water damage. If your siding is less susceptible to this, your insurance provider may give you a discount for having it installed.

James Hardie fiber cement siding is very long-lasting. It can survive many decades if properly maintained, which is not difficult. Furthermore, James Hardie provides excellent warranties, including a 30-year product guarantee and a 15-year finish warranty.

Because of the warranties and the longevity, you will most likely not need to replace it as often as other sidings. This siding will also not bloat, peel, or split, and it is resistant to the Seattle and PNW climate and its varying weather.

If your insurance provider sees the value in all of these barriers and the money they may save, as a result, they may give you a discount. It is always a good idea to contact them and see what they have to offer.

KV construction is a Seattle Siding Repair company and a James Hardie Siding Specialist

KV construction is a Siding Repair company in Snohomish, King, and Skagit counties and is a James Hardie registered siding contractor in Seattle. Our team members have the experience and knowledge to properly install these premium siding products. That way, they will last the longest and perform at the optimum. We will correctly install this siding the first time, every time.

We can assist you in determining which siding is ideal for you and which will provide you with the most significant insurance reductions. We never utilize high-pressure sales methods for this purpose, instead opting for an educational approach.

This approach gives you all of the essential information you need to make an educated choice. We can decide what is best for you, your house, and your budget together. We provide financing options so you can have the siding you desire for your house.

Please contact us if you have any questions; we are always happy to assist. We are your trusted siding company, as well as your trusted local home remodeling and new construction contractor. We also install windows, doors, soffits, gutters and paint the outside of your house in addition to installing siding.

Call KV construction now for a no-hassle-free quotation! Let’s get started on beautifying the outside of your property and get the insurance reduction that may be associated with it!