What Affects Home Insurance Prices?

There are many factors that may affect home insurance rates. The following are the most common:
  • Types of Construction
    Frame houses usually cost more to insure that brick houses.
  • Age of House
    New homes may qualify for discounts. Some insurance companies may not insure very old homes or may offer a limited form of coverage.
  • Local Fire Protection
    Your home's distance from a fire hydrant and the accessibility of your home to your local fire department determines the fire protection classification.
  • Amount of Coverage
    The amount of coverage you buy for your house, contents, and personal liability will affect the price you pay.
  • Deductible Amount
    Your choice of a higher deductible will reduce the price for home insurance.
  • Discounts
    Insurers may offer lower prices for such things as insuring your home and car with the same company and installing dead bolt locks or alarm systems.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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