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11 Factors That Affect Your Home Insurance Rates

Home insurance is always something that is important to get. You never know what could happen and it is always best to be insured to stay safe and not be sorry. However, the rates of home insurance could fluctuate based off some factors. The price for homeowners insurance in PA may not always be the same. To help you learn what could affect the rate, here are 11 factors that could change the rate.

Your Dog’s Breed

Unfortunately, some dog breeds may have a bad reputation even if you’ve got the sweetest pooch on the block. Some “dangerous” dog breeds such as Pitbulls might cause the insurance rate to change.

Your Stove

If you have a stove that runs through burning wood, this can cause the rate to get higher. This is because it poses a higher risk of home fires.

You Remodelled Your Home

Basically, if you made your home nicer by adding a new room or remodeled the bathroom, your home will increase in value. Therefore, the price could also get higher, but you should check with some homeowners insurance in PA to see what the exact changes are.

Swimming Pools

If you have a swimming pool, hot tub, etc., in your backyard, then your insurance rate will probably go up by around $100 more or less each year.

Your Roof

If you have an older roof, then the rate could be higher. This is because there is a higher chance that there will be problems with your old roof compared to a new roof.

The Location of Your Home

The location of your house can actually make a big difference. For instance, if you are pretty near the local fire department, the rate of your insurance can easily get lower. In addition to this, if you live near large bodies of water like the ocean, this can easily raise the price as well.

Credit History

Like most things in life like getting a car loan, or getting an apartment, your credit history will play an important role in it. However, take note that every insurance company calculates your worth based on their own credit formula rather than your actual score. This means that they’ll take your payment history, debt, etc., into account when giving you a rate.

Business at Home

Since most businesses at home require equipment to function, you’ll need to have those covered as well, which can hike up the price.

Home Security

Not only does having security features keep your home safe from potential burglars, but it can also lower the rate of your home insurance since it has a layer of security.

Your Claims

If you have a lot of previous claims, insurers will see you as a risk which can potentially make your insurance rate higher than usual.

Age of the House

Similar to why your roof matters which was mentioned earlier, the age of your house and what materials used would affect the price as well. The materials and age could make it more susceptible to damage from things such as the weather.

Don’t forget to always know what factors could affect your insurance rates. This will help you be more prepared for when you get that much-needed insurance for your home.

If you are looking for homeowners insurance in PA to protect the biggest investment of your life, tap our team at Miller Carlisle Insurance Services and we’ll find the best deal for you. Contact us today!

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