10 Things That Can Affect Your Homeowners Insurance Rates - Temecula Insurance Agency - Carver for Auto, Home, Life & Health

10 Things That Can Affect Your Homeowners Insurance Rates

The process of purchasing homeowners insurance may be annoying, complex, and confusing. However, here are factors to help you understand how to asses your homeowners insurance cost, before or after buying a home. These things can affect your rates for the better or for the worst.
  • Construction- Constructing a home using non-flammable materials such as concrete, stones and bricks can lower your insurance rates.
  • Geography- It is always advisable to consider buying a home near a fire station as you will pay lower premium rates, as opposed to those that are far.
  • Value- The current value of your home determines whether the rates will be high or low.
  • Claims History-If your home has clean insurance records then your rates will be low.
  • Age- Whether old or new, the home should be well built.
  • Additional Living Expense (ALE) Limits- If your (ALE) is less than 20% then you should work on increasing it.
  • Liability Limits-It is advisable for one to increase the liability limits to make sure they are well protected by the insurance.
  • Contents- Worth of your property is determined by the company, if the property has value above that amount then you have to boost the coverage limits on Contents.
  • Deductibles- Selecting high deductibles helps to lower the budget, thus paying low cover insurance.
  • Structure- Ensure that your property is in the best possible shape so that there are no exclusions included in your policy. Example: a bad roof might mean your roof is not covered under the insurance policy. For more detailed information about how these things and more can affect your insurance policy, please contact Carver Insurance Services, Inc. today.

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