Homeowners often think about resale value when considering home improvements. But if you’re not looking to sell anytime soon, there’s another good reason to remodel: you could save on your homeowners insurance.


Replacing the roof can be one of the most expensive house repairs, but a sound roof prevents even more expensive problems such as rot and structural damage caused by water leaks.

Insurance companies know that, which is why replacing an old roof can really pay off in home insurance discounts, ranging from five per cent to a whopping 35 per cent depending on where you live and what kind of roofing materials you choose.

Security systems

“No surprise, insurers are looking for upgrades that will improve safety and security. So it’s worth considering a home security system,” said Tobie Stanger, Consumer Reports money editor.

Discounts may be more likely for systems connected to an outside monitoring service.

Electrical upgrades

Upgrading your electrical system to safer standards isn’t glamorous, but it’s also a definite plus with insurance companies. Consumer Reports found a company that gives up to an eight per cent discount to homeowners who upgrade their electrical and plumbing.

Smoke detectors

And don’t forget simple precautions such as smoke detectors. They’re usually required by code, but installing certain fire and smoke alarms could get you a two to six per cent insurance discount.

Check with your insurance company to see what discounts are offered. The individual breaks may be small, but taken together they could add up to significant savings.