How to Keep Utilty Bills Low This Winter

   

The winter season brings with it special times and special challenges, both of which can challenge one's personal finances. Scoring that perfect holiday gift for a loved one shouldn't distract you from other, more mundane activities that can drain money from your wallet as snow and ice build up outside, so now's the time to prepare your home for the winter wonderland that looms ahead.

According to the Insurance Information Institute (III), winter storms can become a huge burden for homeowners. The organization notes that from 1989 to 2008, winter storms accounted for eight percent of all catastrophic losses across the country. 

Jeanne Salvatore, a senior vice president with the III, said that people should make sure they're properly insured before winter swings into full force.

"Standard homeowners policies cover winter-related disasters such as burst pipes, ice dams and wind damage caused by weight of ice or snow, as well as fire-related losses," Salvatore said.

While those common types of losses are covered under your policy, keep in mind that damage from flooding generally is not. After heavy snow and ice melts, there is a greater risk that ground water can get in to a home, creating a situation that requires a special flood insurance policy. Such policies, the III notes, are available through the National Flood Insurance Program and some private insurance companies.

In addition to having the proper insurance, you can take additional steps to make sure your home is ready for winter. For example, the III suggests that people clean out gutters and install gutter guards, which will help prevent ice buildup in the outside drainage system that can lead to leaks in ceilings and walls.

Other outdoor maintenance you should consider includes trimming trees around your house and keeping stairs and handrails repaired. Cracks and holes should be sealed, and weather stripping on windows should be checked.

There are also things you can do inside your house to make winter more tolerable for both you and your personal finances. 

Start by keeping the house warm, around 65 degrees. Having a cold house in winter can lead not only to personal discomfort but also to burst water pipes. If you're concerned about being able to afford keeping your house warm, consider energy-saving steps like using plastic window kits for insulation and to reduce heating bills.

Another option for trying to keep heating costs down is to install an automatic thermostat. Although there are some upfront costs for the homeowner, a report from U.S. News & World Report notes that the equipment can lead to savings. Program the thermostat to keep the heat down when no one's home and to bring it up again to a more comfortable level by the time people return.

All homeowners, including those who use alternative sources of heat like fireplaces or woodburning stoves, should make sure they have working carbon-monoxide detectors in the house to protect themselves and their families from deadly fumes.

U.S. News & World Report also notes that there are federal and state programs available to people who can't afford to properly winterize their homes. For those who can afford to do the work, it's an investment that will pay off by keeping the cold at bay and money in their wallets.