In order to get the most out of home insurance premiums, owners are wise to practice a regimen of daily maintenance on their homes. While home insurance is designed to cover events like fires, thefts, or electrical damage that cannot be reliably predicted, it will not cover items that homeowners should have taken care of themselves. In fact, if a home insurance claim can be proven to have a root cause of failure on the owner's part to conduct proper maintenance, the claim will likely be rejected. But it is not simply to avoid problems that homeowners should engage in daily maintenance; over time, proper daily maintenance may in fact result in a lowering of home insurance premiums.
It works in a few ways. First, home insurance companies are in the business of mitigating risk and maximizing profit. If a home or owner represents risk, they will face increases in premium rates for coverage based on the assumption that they will use their insurance more often. A homeowner that is diligent in daily maintenance can demonstrate to an insurance provider that he/she is not only reliable, but also rarely, if ever, makes claims on his/her insurance policy. Over time, the insurance company will often reward homeowners that maintain their properties with reduced insurance rates. A consistent record of home maintenance and standards keeping can help to slowly bring down the cost of a premium and reduce the amount that it will increase should a home insurance claim need to be filed.
In addition, daily maintenance of a home can help to limit the amount of coverage that a home requires, once again lowering the amount of premiums paid. If a homeowner is extremely knowledgeable about his/her own property and its problems, he/she can correct and predict many of the issues that may arise. In cases such as this, owners may be able to purchase only the minimum required coverage for the home, as they are able to mitigate most, if not all, of the damage that the home would ordinarily suffer. This knowledge of a home's ins and outs, in conjunction with regular maintenance, can help to keep home insurance premiums to a minimum.
Finally, regular and effective maintenance on a home can help to keep it not only problem-free, but also in need of fewer interactions with an insurance company. This in turn sets the homeowners in good stead, as they would then have an excellent standing with the insurance company and could deal with many problems before they become larger issues. Over time, daily maintenance can have payoffs for both the home and also the homeowner's insurance premiums.