Every homeowner has a personality of their own, and so does every home insurance policy.
Different unique features of your home need to be covered differently so that your policy really
protects you in the event of a disaster.
When you’re shopping for your homeowner’s insurance, you should know the factors that go
into your insurance rate. Here are the most important factors that could affect your cost.
If you live in an area where natural disasters are common, such as Wild Fires or Tornado’s, your
home risk factor is considered “high” and will cost more to insure. Similarly, areas that tend to
have less severe weather and other natural disasters the insurance is considerably less
2. What’s inside and Out
This included both the things you own as well as the home’s occupants. Pools, fireplaces, hot
tubs: all of these things could affect the cost of your insurance policy because they either
increase the replacement cost and value of your home, but also it could increase the liability risk
therefore it could have an effect on your coverage and premium.
But insurers also take into account who lives in the home, including their financial well-being.
Insurance premiums are discounted for policyholders that have favorable credit and favorable
financial habits where bad credit and unfavorable credit history has a negative effect and severe
surcharges could apply.
3. Your insurance history
Insurers have access to your insurance history, meaning they can see how you’ve treated
properties in the past and how often you make claims. This information is considered is used in
not only pricing but in some cases acceptability. Unfortunately, if you’ve had to make claims in
the past, your homeowner’s insurance premium could be a bit higher and depending on the
claims and how many some insurers will deny writing coverage at all.
4. The age and integrity of your home
New construction homes are much easier and cheaper to insure because they haven’t been
subjected to the aging and decay of older homes. While new construction may not have the
character of a “well-loved” home, it also doesn’t have the creaky floors, crumbling fireplaces, and
asbestos that can be found in some older homes.
5. Replacement Cost
Probably the most important factor in your homeowner’s insurance policy is how much it would
cost to replace or rebuild the home. In a worst-case scenario, like a fire or tornados, you’ll want
to make sure that your policy will cover the cleanup and replacement of your home and
The best and only way to find your homeowner’s insurance rate is to talk with one of our agents
face to face. Make your appointment today by calling (417) 883-4343 and let us find the best
policy for you.