Saving money on household expenses has become a necessity for many families. If you're looking for ways to make your income tax return benefit you beyond a vacation this year, consider investing that money into home improvements that will cut the cost of your homeowner's insurance premiums.

Security System

Home security systems have come a long way in recent years. Today, the systems available offer you direct access from your smartphone or computer.

If you currently have a system in place, how old is it? Does it include fire and smoke detection? Does it detect carbon monoxide? Is it currently connected to the security monitoring service?

Upgrading your system, or installing one, may actually reduce the cost of your homeowner's insurance premiums. This is due to the expedited response time of the newer systems since it not only alerts the monitoring service, but it also notifies you directly.

Siding Replacement

The new siding materials available today aren't like the vinyl stuff found on many homes. Today, you can find metal siding or fiber-cement siding that is fire-resistant. These materials are beneficial for all homes, but especially for those in fire zones. They aren't fire-proof, but they will delay combustion for longer than wood or vinyl siding. This could result in a reduction in the cost of your homeowner's insurance premiums.

Roofing Upgrade

New roofing is a big investment, but it's one with a great return. Not only could the right roofing material improve the value of your home, but it can reduce your homeowner's insurance premiums.

If you live in an area prone to fires, a fire-resistant material is optimal. If you live in an area prone to strong winds and harsh storms, wind-resistant materials are a good idea.

A roofing professional or your insurance agent can help you determine if this upgrade would provide you with the discount you seek.

Electrical System

If you live in an older home, it's possible that the electrical system is outdated. Older systems increase the chances of house fires. Having an electrician inspect your system will help to determine if the system is in need of an upgrade or not.

Call your agent. They can help you to find discounts that are available for you. If these investments are beyond your budget, using that extra money to pay your premium for the next year could result in a discount. Hopefully, you find the savings you need to meet your budget.

To learn more, contact a homeowner's insurance agency near you.