The world has witnessed a dramatic increase in power outages in recent years, primarily driven by extreme weather events. A revealing statistic underscores this trend: from 2000 to 2021, a staggering 83% of major power outages in the United States were attributed to extreme weather, including severe storms, hurricanes, and other climate-related incidents. These disruptions are inconvenient and pose risks to home safety and security.
Whole-house generators have emerged as more than a convenience; they are becoming necessary in some regions. Designed to provide an uninterrupted power supply during outages, these generators are integrated directly into a home's electrical system, typically powered by natural gas or propane. Beyond the immediate benefit of continuous power, whole-house generators also allow homeowners to secure insurance benefits. As we delve into the world of whole-house generators, we'll explore how they offer a reliable solution to power outages and a potential for financial savings through insurance discounts.
Understanding home standby generators
The ultimate convenience of whole-house generators lies in their ability to provide total home functionality during power outages. They ensure that all major appliances and critical functions of your home remain operational. Whole-house generators enhance home safety by ensuring the continuity of essential services, preventing common outage-related issues like food spoilage and water damage, and providing a reliable power source during extended outages.
Financial advantages: insurance discounts and beyond
Installing a whole-house generator doesn't just ensure uninterrupted power during outages. It also offers financial advantages. Many insurance companies recognize the value of a whole-house generator, reducing homeowners' insurance premiums typically by 5% for those with propane or natural gas-powered automated standby home generators. This reduction reflects the decreased risk of damage during power outages, such as from frozen pipes or food spoilage, thereby qualifying as a loss mitigation credit. However, to benefit from these insurance discounts, the generator usually needs to be a permanently installed unit rather than a portable one.
In addition to insurance savings, whole-house generators can enhance property value. Homes with installed whole-house generators can see an average increase in value by up to 3%-5%, particularly in areas prone to frequent power outages. This increase in home value is a vital consideration for homeowners in rural or suburban areas where power outages might be more common, making the property more appealing to potential buyers.
Investing in a whole-house generator goes beyond immediate functional benefits, offering long-term financial gains through increased property value and reduced insurance costs. Before making a decision, it's advisable to consult with your insurance agent and energy professionals for tailored advice and to understand the specific benefits of your particular situation.
Considerations to qualify for an insurance discount
Depending on your insurance company, some stipulations may be required for your generator installation to qualify for an insurance discount. Here's how to leverage these financial benefits.
Initiate a dialogue with your insurance agent
Start by engaging in a conversation with your insurance provider. Discuss the possibility of discounts for installing a whole-house generator. Each insurer may have different policies and discount rates, so it's essential to understand the specifics.
Insist on professional installation
To qualify for potential insurance benefits and ensure optimal safety, have your generator installed by certified professionals. Professional installation not only guarantees compliance with all safety norms but also enhances the reliability of the generator.
Adhere to safety regulations
Compliance with local and national safety standards is crucial. Ensure that your generator installation meets all the necessary regulations, as this can impact your eligibility for insurance discounts.
Maintain accurate installation and maintenance records
Keep a detailed record of the installation process, including invoices and maintenance schedules. These documents serve as proof of the professional installation and ongoing upkeep of the generator, which your insurance company might require.
Battery storage insurance discounts
While insurance discounts for whole-house generators have been well-established, the idea of insurance discounts for battery storage systems is relatively new. Just like generators, battery storage plays a crucial role in maintaining essential functions in a home during power outages, such as keeping the lights on and preventing pipes from freezing. Insurance companies are increasingly recognizing this capability to prevent further disasters from happening when power fails, offering system owners an opportunity for financial savings.
The introduction of battery storage insurance discounts complements the benefits already provided by generators. Investing in these technologies enhances the safety and security of your property while potentially reducing insurance premiums. This dual advantage — improved safety and potential financial savings — makes the choice of installing whole-house generators and battery storage systems compelling.
Ready to experience true energy independence?
Request a consultation with a Briggs & Stratton dealer or installer near you by clicking the button below.
