How To Make Your Home Recession Proof

Rising food and gas prices are leaving American homeowners with less money to spend and more concerns about the future.

That is why in addition to suggesting smarter ways to spend a dollar, MainStreet also looks for ways to stretch dollars, too. How so with homes? "People have a lot of opportunities to reduce their home owners [insurance] premium if they invested in certain equipment and protective services in their house," says Peter Spicer of Chubb Insurance (CB). "It’s a good time for people to look to see if they have taken advantage of all these credits and services."

Home improvements can also increase your asking price when you sell, and can result in your home being sold sooner than later. (Of course, where your house is located should always be considered before you begin recession-proofing your home, not every home will benefit from home improvements in the same way.)

Here are a few tips to recession-proof your abode:

Safety can save you. Not only can a security protection system protect you from a robber or fire, installing one can also lower your monthly insurance payments. The benefits depend on what type of system you have in place, be it a deadbolt or something more. Your premium can dip by as much as 20% if you install a sophisticated sprinkler system, and a fire and burglar alarm that rings a monitor station, according to the Insurance Information Institute. That could mean $400 annual savings if your insurance plan costs $2,000.