Most people understand the importance of having a good home insurance policy, but many aren’t sure how much they should expect to pay. The truth is that there’s no one-size-fits-all insurance policy rate that will cover every single home. There are many different factors at play in determining what your home insurance rate will be, and we’d like to go over a few of these details below.
Here are a few major contributors impacting your home insurance rate:
- Property Size. Your home’s size plays a significant role in determining your insurance rate. This is simply because of the higher cost of replacing a larger home than a smaller home due to the increased number of materials and the amount of work involved to build a larger structure. For this reason, homeowners with larger homes will typically have a higher home insurance rate than homeowners with smaller homes.
- Home Age. Older homes are more likely to have older appliances and systems that may pose greater risks to the home’s overall safety and functionality. Therefore, owners of these homes are more likely to file a home insurance claim than owners of newer homes.
- Protective Features. Home insurance agencies like to see that you are playing an active role in protecting your property. For this reason, you can often get discounts on your home insurance rate for protective features like security cameras, fire sprinklers, and any sensors that alert you to damages before they worsen.
The search for a good home insurance policy with fair rates can be difficult, but we make it easy here at Pietila Family Agency by always keeping your needs and best interests at heart. Contact us today for more information.