Renovations Can Make Your Home Less Of A Risk For Insurers

Monday, March 1, 2010

Renovations Can Make Your HomeLessOf A Risk For Insurers (NAPSA)—Safety features reduce insurance premiums for critical component of reducing a . cars; can they work for homes,too? The short answeris: yes. According to the Insurance Information Institute, making a home discounts to home insurance premiums based on what homeowners do to mitigate against loss,” said Loretta Worters, vice president at the Insurance Information Institute. “For example, there are newhome discounts, mainly because new homeshave newroofs, wiring, plumbing and heating, and there- exposed,” said Brown. “Step one wil Na gi : i oe Fortifying a home’s exterior does more than reduce your risk of loss. It may also reduce your insurance premiums. concerns all insurers. Therefore, tems on an older homeandnotifies it makes sense that fire-related improvements offer the best chance for a premium discount. In fact, many insurers even offer of receiving a 10 to 15 percent dis- holds because of the number of Location also plays a part in risk assessment. Fortifying the home’s exterior fore are less susceptible to fire. But if a homeownerreplaces these systhe insurer, there is a good chance count on insurance premiums.” Location, Location, Location “There are state-specific dis- counts in particularly vulnerable areas of the country,” said Worters. “In Florida, for example, with the risk of hurricanes extremely high, you can save up to 30 percent on your premium by installing basic shutters. In regions of the country prone to wildfires, insurers look at everything from building materials to landscape vegetation.” Fire: Disaster’s Common Denominator Fire is one major risk that “IBHS recommends a systematic approach to property protec- tion, based on the specific perils to which an individual home is disaster-resistant is one of the best ways to lower home insurance rates. “Most insurance companiesoffer home’s risk factor. discounts to nonsmoking house- homefires started every year due to cigarettes. is an obvious way to help reduce the risk of loss due to fire, espe- cially in rural areas. Siding materials with high is to strengthen a home’s outer envelope—notably roof and wall systems, doors, glazed openings and the foundation.” Fiber cement siding, like James Hardie’s HardiePlank lap siding and HardieShingle siding products, is widely used because of its noncombustibility rating and its recognition for use in several one-hour fire-resistancerated wall assemblies. James Hardie siding is recognized by CAL FIRE for use in Fire Hazard Severity Zones in the Wildland Urban Interface (WUI). In addition to superior fire performance, James Hardie’s spe- cially formulated fiber cement has a FEMAClass 5 flood resistance rating and is rated to withstand 150 mph winds. It’s as beautiful as it is durable, fire ratings (meaning they resist too, designed to closely mimic the look of wood. benefit from an interior wall- For more information about home renovations and insurance burning for at least one hour) are preferred, and these should board that retards the transfer of heat from the exterior to the interior. Fortifying The Exterior Remington Brown, P.E. of the Institute for Business and Home Safety (IBHS), points to siding as a For More Information discounts, visit the Insurance Information Institute at www.ili.org or the Institute for Business & Home Safety at www.ibhs.org. More information about James Hardie’s exterior siding products is available at www.jhsavings.com.

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