Every home insurance policy is unique to each individual’s assets, lifestyle, work style, travel habits and more. Knowing these components can help ensure you’re getting the best possible rates. You may already know that your credit history and the location of your home can affect your rate, but here are some surprising factors that affect home insurance you may not be aware of.
Poor roofing conditions can make your home more susceptible to water damage, animal/pest infestations and increased repair costs. Homes with new roofs will typically have a reduced premium, while homes with older roofs will have to pay more. If you decide to get your roof replaced or repaired, be sure to speak with your insurance agent to see if there’s any savings that may come along with it.
2) Pool, Hot Tub, or Outdoor Spa
While these features can increase the property value of your home, they can open you up to insurance risk. These additions increase your insurance rate due to the additional liability coverage in case someone gets hurt or there is an accident.
3) Fire Station Proximity
Having your home near a fire station or fire hydrant can be beneficial and may lower your insurance rates. In case of a fire or medical emergency, help can arrive sooner and minimize property damage.
4) Marital Status
Married couples historically file fewer claims than singles and are therefore usually given better home insurance rates. They are viewed as less of an actuarial risk by insurance companies than single counterparts.
5) Dog Breed
Owning an aggressive dog has the potential to increase the liability portion of your insurance policy. Dog owners should share their pet’s history, behaviors and care regimen with their insurer to see if there is a potential for savings.
Be sure to check with your insurance provider to ensure you’re receiving the best possible home insurance rate. To see your fast, easy, and secure quote, please click here!