x
Breaking News
More () »

Home Improvements Can Actually Save You Money

Home repairs can be pricey but they can seriously pay off.

Nobody likes paying for home improvements. They can get pricey. But getting that honey-do list" done can actually save you some serious money. It can save you from more expensive issues and insurance companies will reward you for that.

"A better roof will reduce the insurance claims drastically," says contractor Brendan Rogers. Replacing an old roof can get you between 5% to 35% off of your home insurance depending on where you live, the materials you use, and your insurance company.

Security systems can also help you save. "Insurance companies are looking for upgrades that will improve safety and security. So, it's worth considering a home security system, you might save on premiums." says, Consumer Report Money Editor, Tobie Stanger. You're more likely to get the discounts if your system is tied to an outside monitoring device.

And upgrading your electrical system is a major plus for insurance companies. Consumer Reports found a company that would give you up to 8% off your premium if you upgraded your electrical and plumbing system. A stationary generator might also get you a discount. Just make sure you keep it at least 20 feet away from your home, windows, and door to avoid carbon monoxide poisoning.

Before You Leave, Check This Out