Premium Factors

Home insurance can often be confusing because many homeowners don’t always fully understand how insurers determine what to charge for premiums.

Once you understand how these premiums are calculated, you can proactively work with your insurer to lower you premium. What an insurance company does when they determine your rates is assess their risk in insuring your property.

According to the Insurance Information Institute (III) there are many factors insurance companies use for determining rates. These include your home’s characteristics, its age and condition, and whether you have a swimming pool.

Insurers will also use factors such as your proximity to the local fire department, whether you have any protection devices, and sometimes owning a large pet can affect your premium.

Finally, you will learn how having a home-based business, your claims history and credit rating, and the ways which your deductible can all factor into your premium’s final cost.

Using can help you find the right home insurance. So, don’t delay any longer, simply enter your zip code and get started today!