home insurance rate

Home Owner Insurance Rate

Many factors go into determining the home owner insurance rate that you pay on your homeowners policy. The age of your home, the materials used to build it, where it’s located, the square footage, and the number of rooms all play a role.

How do you heat your home? What’s the overall condition of the house? How many people live in your home? How close is your home to the nearest fire station and fire hydrant? The answers to these questions also help determine your home owner insurance rate.

Ways to save
If your home is equipped with an alarm system, smoke detectors and deadbolt locks, you could save money. Those items help make your home safer and more secure. If you have an in-ground pool or a trampoline, you might pay higher premiums. You can also expect to pay more if you are located in a higher risk area, such as a coastline. Your insurance company will also want to know if you plan to use the home for any business purposes, of if you plan to rent all or part of the house, both of which can increase liability.

Armed with all this information, insurance companies can determine how much to charge you for insurance, sometimes in a matter of minutes.