SSS g Your Assets Protect Your Home Investment, ReduceInsurance Costs Simultaneously (NAPSA)—If this year is anything like its recent predecessors, it is likely to be a busy severe weather season for homeowners. According to figures from the Insurance Information Institute, Mother Nature has takena toll on homeowners in recent years. Insured thunderstorm losses in 2010 totaled $9.5 billion in the United States, making it the third consecutive year in which losses totaled more than $9 billion. Thunderstorm losses typically include any damages caused by tornadoes, hail, lightning and straight-line wind. But as homeownersprepare for the severe weather season, there are ways to keep their property adequately protected from bad weather while also lowering their imsurancerates. “Making your home more storm resistant and purchasing a home-security device are two of the best ways you can reduce your homeownersinsurancerate,” said Michael Barry, spokesperson with the Insurance Information Institute. To reduce the amountof insurance claims homeowners make after a storm, many insurance carriers offer a “loss mitigation credit” or something similar, which reduces a homeowner’s insurance rate for investing proac- tively to avert losses. Installing a home standby generator is one way to keep a prop- erty safe in the aftermath of severe weather, potentially reducing a homeownersinsurancerate, Barry said. Automatic standby generator systems keep the power on when a home’s primary power source goes out, allowing homeowners to run appliances such as air conditioners, heaters, refrigerators, clothes washers/dryers and lights. Standby generators are viewed by the insurance industry as a ca dahl You can help your home and your wallet weather both natural and economic storms. theft-prevention mechanism. Insurance carriers may award policy premium discounts to homeowners whose property is equipped with a standby generator because it keeps the home inhabited— deterring thieves—when the power goes out. Any potential discounts should be discussed with an insurance agent or insurance company. “In addition to potentially saving a family on insurancecosts, automatic standby generator systems keep your home running smoothly when a weather-related incident knocks the power out in the neighborhood,” said Bill Reitman, senior vice president at Briggs & Stratton, the exclusive licensee of Standby Generator Systems by GE. “This not only keeps the family safe and comfortable, but it can also save a family thousands compared to the cost of spoiled food, basement cleanup after a sump pumpfailure or a hotel stay.” Other ways to reduce your insurancerate include: Retrofitting a roof to allow it to withstand high winds Installing a home-security device to discourage thefts Adding storm shutters * Modernizing your home’s heating, plumbing and electrical systems.
