If You Stop Smoking, Will Your Home Insurance Rates Go Down?

You likely know the benefits of being a nonsmoker. You may know it is a healthier way of living. You may know it could extend your lifespan and help you to maintain a smoke-free home. However, you may also recognize that the process of stopping is not easy. One way that may help to motivate you is the financial savings. Beyond just saving money on the cost of the cigarettes themselves, you may also see a drop in your home insurance premium if you stop smoking.

Why does your insurer care if you are a smoker? This may be one of the reasons your premium is significantly higher than others.

Reducing Your Home Insurance Costs

Saving money on home insurance should be a priority. There are many ways to do so. Living near a fire station, having working smoke detectors in place, and using a home security system are a few of the best ways to reduce your costs. But, there are more. One of them is to be a nonsmoker.

As a smoker, you are a higher risk to your home insurance company. Smokers are more likely to cause a fire started by a cigarette. You are also at a higher risk of having health complications which could put you and your family at risk. In short, if you do not smoke, you are less of a risk to the insurance company. As a direct result of this, the insurer will likely reduce how much they charge you for insurance each year.

However, some may require proof that you stopped smoking. This may include an inspection of your home. It may include a note from your doctor. Many others will take your word for it. However, if a fire occurs in your home due to a cigarette, your insurance company may not have to pay the claim. Ensure all of the information you provide to your insurer is accurate. This can significantly help to keep you and your family safe and financially protected when such an event occurs, but it also helps you to save money on your insurance costs. Now, you have another reason to stop smoking for good!