Buying a Home Only Based on Homeowners’ Insurance Rates

Buying a Home Only Based on Homeowners’ Insurance Rates
Insurance rates certainly impact your consumer decisions to some degree. You may not buy a sports car, for example, due to high auto insurance rates. You can only buy as much life insurance as you can afford. Even businesses must make an assessment on how much risk they can absorb vs the cost of business insurance.
Homeowners’ insurance, however, is usually based more on need or what your mortgage company requires you to carry than cost. But what if cost of homeowners’ insurance was the ONLY factor you considered when purchasing your next home? It would impact your choices in a home in some interesting ways.
You Would Probably Buy New
Generally speaking, homeowners insurance will be less expensive on a new home of similar value to an older home. Why? Because a new home is built to todays standards and codes. This means electrical wiring, plumbing, roofing and other aspects are less prone to failure. There are safety features built into new homes that may not be present in older construction. Better built, safer homes will translate to lower homeowners’ insurance premiums.
Location
Virtually every area of the country has its own risks, but living on the banks of a river or cliff can offer more challenges, and higher homeowners insurance rates. On the other hand, purchasing a home in a newer neighborhood, close to a fire department and fire hydrants can save you on your home’s insurance.
Safety and Security Features
There may be discounts to be had if your home is loaded with safety and security features like cameras, alarms, double strength windows, steel doors with dead bolt locks and more. A monitored security system can save you as well. If you are looking for lower homeowners’ insurance premiums, buy a secure home.
Avoid “Attractive Nuisances”
Sorry, but if you are looking to buy a home based on the least expensive homeowners’ insurance rates you’ll have to say goodbye to that pool. A pool, trampoline, playground equipment and similar items are considered attractive nuisances and will bump up your homeowners’ insurance premiums.
Now, of course, no one is going to make a home purchase decision solely based on homeowners’ insurance premiums, but we all want to save money. That’s why you should contact one of our independent insurance agents when pricing homeowners’ insurance. They will compare the coverage and pricing from multiple companies, giving you the freedom to choose. Contact us today for your no-obligation quote.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
The Digital Clean Slate: Securing Your Business Cyber Insurance
Digital organization is key. An audit of your cyber policy and MFA security measures is vital to meet 2026 insurance requirements and lower premiums.
The Healthy Policy: Leveraging Your January Wellness Resolutions for Life Insurance Savings
Did you resolve to get healthier? Your improved fitness can translate into lower life insurance premiums in the new year.
Post-Holiday Adjustments: Auditing Your Auto Policy for New Drivers and Commute Changes
Did a student driver leave for school or return home? Update your auto policy’s garaging address and drivers to avoid huge claim issues.
New Year, New Value: How to Audit Your Home Insurance for Proper Coverage
Kick off the year by checking your policy. Ensure your home’s replacement cost is up-to-date and your new holiday gifts are properly scheduled.
Cinnamon, Cocoa, and Contentment: The Hygge Approach to December Holiday Feasting
Ditch the stressful feast! Simple, warm, and comforting recipes and rituals to bring the cozy Danish concept of Hygge to your holiday table this December.
Guard the Till: Insuring Your Business Against the Holiday Spike in Employee Theft and Fraud
Internal threats are highest in December. Secure your inventory and cash flow with Commercial Crime Insurance (Fidelity Bonds) to protect against employee dishonesty.
The Family Legacy: Why December is the Time to Name a Trust as Your Life Insurance Beneficiary
Protect your payout. Discover the benefits of naming a Trust as the beneficiary of your life insurance to control distributions and minimize probate delays.
Customizing Cold Protection: Essential Auto Insurance Endorsements for Winter Driving
Standard coverage isn’t enough for winter. Learn about Gap, OEM, and specialized endorsements to fully protect your vehicle and costly winter accessories.
Defrosting Disaster: The Costly Liability of Ice, Water, and Frozen Sidewalks in December
Frozen sidewalks, overflowing sumps: A December guide to home insurance liability and water damage coverage, and how to avoid costly claims.
Tinsel and Tropes: A Cozy Look at Why Classic Christmas Movie Moments Endure
From Zuzu’s petals to the leg lamp: Dive into the nostalgic tropes and timeless comfort of our favorite classic Christmas films.