Factors That Impact Your Home Insurance Rates

Factors That Impact Your Home Insurance Rates

Obviously, your driving record impacts your car insurance rates. Your age and health will affect your life insurance rates. What factors impact your home insurance costs? Here are some major factors:

Age and Condition

A major factor in home insurance rates is the age and condition of the house. They may not be built to today’s standards and have older wiring and roofs. All things considered, a new home will be less expensive to insure than an older one.

Location

Where a home is located affects rates, including geographical regions down to the neighborhood. How close your home is to a fire department or even hydrants could affect rates.

Replacement Costs

It should be apparent that the more valuable your home is, the more it will cost to replace it. This can make it more costly to insure.

The Amount of Your Coverage

Your home insurance policy has limits ranging from contents to outbuildings to liability and overall coverage that will affect your rates. You should want these limits to be sufficient without being excessive.

Your Deductible

The deductible is the portion of a claim the insured pays before policy benefits kick in. The higher these deductibles, the lower your premium will generally be.

Safety Features

Various safety and security features in a home can earn discounts. This may include fire and burglar alarms, deadbolt locks, cameras, and more.

Credit Rating

Insurance companies have found that consumers with higher credit ratings tend to be more responsible with their insurance. This may lead to better rates.

If you haven’t had a home insurance review in years or longer than you can remember, connect with one of our independent agents. As independent agents, we are qualified to review the policies of any company and can even search for rates that may be more competitive. Contact us today for a no-obligation, no-cost home insurance review.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

The Uninsured Gap: Why Small Businesses Are Missing Crucial Protection

Why small businesses need more insurance.

Beyond “How Was Your Day?”: Engaging Your Kids with Deeper Questions

Get your kids talking with these open-ended questions.

The Rise and Fall (and Possible Return?) of the American Minivan

The minivan’s journey: from family icon to potential comeback.

Out with the Old: 7 Home Upgrades That Pay You Back

Upgrade these 7 outdated home features now.

America’s Linked Cities: Six Communities Forever Entwined

Discover America’s famously linked cities.

Navigating Price Increases: How to Retain Customers During Inflationary Times

Retain customers during price increases with these tips.

Beyond the List: What Your Bucket List Really Says About You

The hidden meaning and power of your bucket list.

Taking the Wheel: How You Control Your Car Insurance Costs

Control your car insurance costs with these tips.

Beyond the Walls: Maximizing Your Home’s Outdoor Living Potential

Unlock your home’s outdoor living potential.

The Welcome Mat: 5 Surprising Values of Your Home’s Unsung Hero

The surprising value of your welcome mat.