Understanding the factors that influence your homeowner's insurance premiums can help you make informed decisions and potentially lower your costs.
The Top 10 Factors
- Location — Your home's geographic location affects risk from natural disasters, crime rates, and proximity to fire stations
- Home age and condition — Older homes may have outdated electrical, plumbing, or roofing that increases risk
- Construction type — Building materials impact how resistant your home is to damage
- Coverage amount — Higher coverage limits mean higher premiums
- Deductible — Choosing a higher deductible typically lowers your premium
- Claims history — Previous claims can lead to higher rates
- Credit score — In many states, credit-based insurance scores affect pricing
- Safety features — Smoke detectors, security systems, and fire extinguishers can earn discounts
- Swimming pools or trampolines — These increase liability risk and may raise premiums
- Dog breed — Some breeds are considered higher liability risks
Speak with your BlackArrow agent about ways to potentially reduce your premiums while maintaining the coverage you need.
