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

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

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

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

The First Airports and Early Air Travel

If You Think Air Travel Is a Challenge Today…

What Did You Do For Your First Job?

First Work Experiences Can Teach Us Quite a Bit

Life’s Life Insurance Reminders

Events That Can Remind Us to Check Our Life Insurance

Five Things to Know About That New Car Before You Buy It

Sure you want your next car to be affordable, reliable and to look good. But here’s what else you should be concerned about.

7 Definitions to Know Before Buying Home Insurance

Home Insurance Doesn’t Have to be Confusing

Things You May Not Realize You Can Do In Michigan

There’s More to Michigan Than Meets the Eye

Nurturing Your Small Business

Taking Steps to Ensure the Future of Your Young Company

What Do You Do With Your Spare Time?

Do You Find Yourself Doing the Same Things?

The Art of the Car: Famous Car Designers You Likely Never Heard of

The Unknown Names Behind Some of the World’s Great Car Designs

Why Paying Home Insurance with Your Tax and Mortgage Payment May Not Be a Good Idea

How Much Is Convenience Costing You