How to Prepare Your Home for the New Year

There are many ways you can prepare yourself and your home to avoid damage claims and high rates in the New Year. Many carriers are raising their rates this year due to the large number of claims made in 2020. E .R. Munro is happy to provide you with tips on how to keep your home safe, and your rates low.

If you need to file a claim, it helps to create a complete home inventory checklist ahead of time. Although it may seem tedious, you will regret skipping this task if you face a disaster in your home. Take photos of the rooms in your home and include items of high value.

Check windowpanes, door seals, and thresholds for air leaks that can cause higher energy bills in the wintertime. Consider adding insulation in the attic or crawlspaces. You should also check the exterior of your home for weather damage such as peeling paint and structural repairs. Make sure downspouts and gutters are clear and they direct water away from the foundation. Maintaining the exterior of your home can help to prevent expensive damage to the interior walls, floor, and ceiling.

Inside your home, check the water and gas lines and valves for evidence of leaks. Shut off the water supply to outdoor faucets and cover the faucets with insulation to prevent freezing.

Clear the areas around the furnace, electrical box, and water tank. Clutter or other obstacles may restrict access with unnecessary delay, which would result in additional damage to your home if a loss occurs.

The New Year is the best time to reassess your health and life insurance needs. Consider any major changes to your family situation that have or will occur to affect your needs in the year ahead.

Take some time to check your credit report. You are entitled to a free credit report once a year. Use the report when making major financial decisions for the coming year. Start off by having a basic annual budget for the year, including a fund for emergencies. This fund may help to cover the costs of minor repairs to be made, before small problems become big ones.

The small changes you make today can directly impact your life in the New Year. Don’t hesitate to act now.

Sources:

Your Winter Checklist: How to Prep Your Finances for the New Year

Fall Homeowner Checklist to Save Money and Avoid Insurance Claims