When it comes to insuring your home, there are going to be several factors that play a role in how much you pay for that coverage. A lot of the factors will have to do with the way that your home was constructed, credit history, claims history and other things like that. However, there are some surprising factors that come into play when it comes to your homeowner’s insurance premiums. InsureWise LLC is here to talk about some of the factors that can have an impact on what you pay to insure your home.
What Factors Impact the Cost of Your Homeowner’s Insurance?
Most people can wrap their head around most of the factors that play a role in what they pay for homeowners insurance. However, there are definitely some that might surprise you.
– Type of Insurance Policy: It might come as a surprise to find out that there is more than one type homeowners insurance policy available to you. Depending on the type of policy you choose, you might pay more. As a homeowner, you want to be working with an agent that will be able to help you understand the INS and outs of the different insurance policies that are available to you.
– Proximity to Water: Whether or not your home is located near water is going to impact how much you pay on your homeowners insurance. For instance, the closer that you are to a coast, the more likely you are going to experience a type of flooding or damage due to natural disasters like hurricanes. If your home is located in a flood zone, be prepared to pay for that.
– Distance to a Fire Station: If your home is located close to a fire station or a fire hydrant, you will not be paying as much on your homeowners insurance as homeowners that are further away from these two things. In the case that your house catches on fire, your insurance company wants to know that there is a means to put that fire out as soon as possible to limit the damage.
– Dog Breeds: Many people have a great love for dogs and will own dogs as pets. While there are many different dog breeds out there to choose from, there are certain dog breeds that are going to end up costing you more on your homeowners insurance policy. If you have a dog that your insurance company deems a “bite risk” you are going to have to pay more. However, if your dog is a service dog, talk to your insurance agent about seeing a savings there.
– Backyard Toys: If you were lucky enough to have a pool or a trampoline in your backyard, there are several insurance companies that will raise your insurance premiums because there is a higher risk of accident on your property.
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Saving on homeowners insurance is something that most homeowners want to do. You can turn to InsureWise to help you get the best rate possible. Call us today or click here to submit these quick and easy quote form!