In risk management the two most important factors in assessing and prioritizing risk is the level of the danger and the frequency of the danger. The threats that are the most dangerous and difficult to avoid are the ones you should take the most seriously. Homeowners can be proactive to mitigate risk and lower premiums by recognizing threats and taking precautions. Five areas posing the greatest risk are swimming pools, fire safety, electrical safety, alcohol, and pets.
Accidental drowning is a leading cause of death in children under the age of fourteen, and nearly a third of the victims are neighborhood children. Almost a fifth of all children who suffer a near drowning require long term medical care. The best preventative measure is having a five feet wall or fence surrounding the pool with a self-latching gate. The barrier should be non-climbable with openings small enough to prevent a child squeezing through. You should also: install a pool cover, have rescue devices poolside, appoint someone to supervise the pool during social gatherings, have a phone poolside, and maintain a current CPR certification. If you have a pool and you take all of these actions you can lower your insurance premium.
After the swimming pool, the most dangerous hazard to people on your property is fire. This risk can be mitigated in a number of ways. Install and maintain smoke detectors in the home. Keep fire extinguishers that are effective against liquid fuel and electrical fires. A powder based extinguishment is best because most household fires will be grease fires in the kitchen or electrical fires. Water is not effective for either. For overnight guests staying in an upstairs bedroom keep an escape ladder and inform the guests where it is located and how to use it. If space heaters heat the home make sure all safety instructions printed in the manual or enclosed documentation are followed. Finally, you should also subscribe to a home security monitoring service, which includes a fire alarm in addition to security and medical emergencies.
For electrocution and electrical safety, conduct a monthly inspection of the outlets in the home and replace any plugs that are loose fitting. Unused plugs should have safety plugs in them to prevent small children from inserting body parts or metal objects like eating utensils into them. Extension cords should not be used continuously and never placed under a rug or carpet where they may be walked on. This is a leading cause for starting a fire. Keep electrical appliances and water as far away from each other as possible and use Ground Fault Circuit Interrupters in the kitchen and bathrooms. Lastly, keep all electrical appliances in good repair.
Alcohol is also a major household hazard. If you entertain regularly you should consider the dangers of alcohol and your potential liability as a homeowner. Guests that become intoxicated and injure themselves on your property could sue you for damages; especially if you provided the alcohol. Common alcohol related injuries are falls and drowning. Alcohol poisoning is another risk. When you entertain, moderate the use of alcohol.
The last major safety hazard associated with most properties is pets, especially dogs. The most common victims of injuries caused by pets are children and service providers visiting the home. This includes the proverbial mailman as well as utility workers and solicitors. Dogs are a great deterrent for potential burglars and home security because they can be dangerous; especially large or aggressive breeds. Keeping a pit bull will likely raise your premium based on the reputation of the breed. Minimize the risk of your pet harming someone who could then sue by keeping your pet indoors or securely restrained when you are not home. Your property should be fenced properly to keep the pet from escaping and harming someone off your property. A sign should be posted warning visitors of your dog, but a sign alone will not absolve you of liability. Criminal trespassers may be the only people exempt from damages resulting from your pet, but you should consult your state and municipality laws to be sure.