When looking at your home insurance rates, it’s important to understand the factors that can raise or lower your monthly premiums, whether they are out of your control or something you can influence. Common factors are your credit score and the value of your home, but there are other factors many homeowners don’t think about when it comes to home insurance.
Proximity to a Fire Station
When agents discuss how location can influence your rates, you generally link of how different states and even different cities charge various premiums for home insurance. While this is true, the proximity you live to a fire station or a source of water can also affect how much you pay.
In general, it is harder to insure a home that is far away from any source of water or fire station. The further away you are, the longer it will take to receive emergency services, meaning that one fire can cause more damage in the time it takes for the firefighters to arrive. If you live closer to a fire station, however, you may pay less in home insurance premiums since it will be quicker for you to receive assistance which reduces the amount of damage a fire can do.
Believe it or not, what you do in your spare time can have an affect on your home insurance policy. This primarily influences your general liability coverage. Personal general liability insurance provides compensation for incidents of bodily injury and property damage someone else may suffer on your home property.
If you host a lot of parties or have a career that may concern lawsuits, you could pay more for home insurance. Also keep in mind that if you bundle home and auto insurance, your vehicle can affect the cost of your insurance.
The Breed of Your Dog
You may not realize that the breed of your furry friends can affect the cost of your insurance rates. In fact, some insurance providers won’t provide coverage for some dog breeds. Other insurance providers will cover all dog breeds, but with higher premiums. This is based on the liability coverage that covers any damage or injury your dog may cover. Certain breeds (such as huskies, German Shepherds and pit bulls) are seen as more likely to cause damage or injury, thus causing your liability insurance to cost more.
Also Read: 5 Of The Easiest Home Insurance Discounts To Qualify For
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