What Affects Home Insurance Premiums?

What Affects my Home?

Several things can affect your home insurance premiums in Westerville, OH, and an agent at Associated Insurance Agencies, Inc. can help you make sure you are getting adequate coverage for your home.

  • Age of Home and Materials: As your home and roof age, the structure is more susceptible to damage. This causes the replacement costs to go up over time, which can increase your premium.
  • Trampolines and Pools: These and other attractive nuisances, as they are called, are fun things to have, but they can also cause premiums to increase. You are liable for injuries people have while using them, whether or not you permitted them to do so.
  • Certain Dogs: Certain dog breeds will raise premiums or make it even more challenging to get insurance. Dog bites can account for one-third of all insurance claims.
  • Previous Claims: If you have more claims made over time, then you are considered more of a risk, and it can lead to higher premiums. With too many claims, you run the risk of not having your policy renewed.
  • Home Security: A home security system can reduce your premium because it adds an extra layer of protection for the home and your belongings. Another thing that adds additional security is by replacing old locks with deadbolts.
  • Credit History: Insurance companies can use your credit history to determine your insurance score, which can affect your premium. Some of the items they look at include outstanding debt, credit history length, payment history, and credit mix.
  • Home Remodeling: Remodeling, whether it’s a bathroom or kitchen, is likely to raise the value of your home, which means this should be reflected in the policy. Materials and construction costs need to be taken into consideration, which could increase premiums.

Contact Associated Insurance Agencies, Inc. serving Westerville, OH, to get a quote on home insurance.