Most homeowners install fencing to either add an aesthetic element to their property, or to keep their children and pets safer. However, fencing can provide so many more benefits to your property than safety. In some cases, fencing installation may even reduce your insurance premiums. While this is not universal, many insurance companies will take into account fencing when considering your insurance costs.
Fences fall under the “other structures” coverage of your home insurance policy. Typically, the provider will help pay for repairs to the fencing in relation to its value. It’s important to note that this isn’t always the same as the initial installation cost, as fencing depreciates in value over time. In order to get the most from your insurance benefits, it’s important to maintain your fencing and choose material that is sturdy and safe.
Fencing can lower insurance premiums in several ways. Many providers will consider your home at a lower risk for vandalism and burglary if you have tall, secure fencing. This may not be true if your fencing is shorter or does not secure the entire perimeter of your home. However, it can help if you have a pool, trampoline, or other hazardous installation in your yard.
Fencing may even lower car insurance premiums because your car will be better protected while it’s parked in your yard. This is a more rare circumstance, but it is possible if you talk to your provider about rates. Full coverage insurance takes all factors into consideration, so you should include this information in your application or when you talk to an agent.
Fencing is not guaranteed to lower your insurance premiums, but you won’t know if you don’t ask. Talk to your provider about your premiums and fencing and find out what discounts you may qualify for. If you think a fence is right for your property, talk to FloriFence about installing a safe, secure, and sturdy privacy fence for your home.