Homeowners insurance was created to bring back your home along with your belongings back to the same as they were before a loss. There are many different types of homeowners insurance policies. Insurance companies in Florida will be able to offer you a wide variety of policies. However, keep in mind that the coverage they offer is not the same. It is crucial that you review all of your options and coverage so you can make the best decision out there.
One of the main questions asked when shopping for homeowners insurance is: What factors affect my premiums? Let’s discuss what can affect your premiums according to Floridainsurancequotes.net.
6 things that affect homeowners premiums
Did you know that how much coverage you decide on will have a major impact on your policy? For instance, if you have some valuable items like jewelry or antiques, they will more than likely not be covered in a general home policy. It may be necessary to get a rider to include extra coverage for those items.
Did you know that your location can affect premiums? Yes, it is true! If you are living in an area that is prone to crime or natural disasters, you should expect to pay a higher premium rate.
The neighborhood you live in also has an influence on premium rates. If your neighborhood is prone to crime, then your home is considered a risk to insurers. Therefore you will experience higher than average rates.
Did you know that how close you live to a firehouse that the lower your premiums will be? If your home isn’t close to a firehouse be sure to remove all fire hazards from your home.
Age of Home
Another factor that will affect rates is the age and materials of your home. Many people are unsure as to what building materials were used when their home was built. Most homeowners will know its age though. Usually, brick homes will provide lower insurance premiums than a house that was made from wood or other flammable materials. However, insurance companies will charge more for an older home. Especially one that isn’t maintained.
For anyone with a current Florida homeowners insurance policy, the more frequent your claims are, you will be hit with higher rates. Be sure to look over your claim carefully. Be sure to ask yourself if the claim is worth raising premiums for the next year? Remember preventive maintenance and keeping with small problems will help prevent larger and more expensive issues in the future.
If you are looking for the best homeowners insurance, be sure to remember these main factors that affect your rates. By properly taking on each factor you may be able to save hundreds of dollars when it comes to your home policy at FloridaInsuranceQuotes.net.