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A wide variety of factors determine the cost of your home insurance. One of the primary factors is the amount of coverage. If you opt for high dwelling and property coverage limits, your rate will likely increase.

Adding coverage for structures beyond your primary dwelling might also hike the rate. Increasing the limits for property damage and medical expenses will also add to the cost of the policy. Let's take a look at some other important factors.


If you live in an area that rarely has any sort of natural disaster, you will likely pay a lower rate. Or, if your home is in an area susceptible to natural disasters, your rate will likely be higher.

Additionally, your access to safety resources could save you money on your policy. A home located near a firehouse might cost less to insure.

Age of the Home

In general, insurance companies charge lower premiums for homes that are new. Older homes typically cost more to insure. They are often more vulnerable to natural disasters and in-home threats. Older homes are more likely to have structural problems that might exacerbate or even cause damage.

Credit Score

A low credit score won't result in a refusal of coverage. However, a homeowner with a high credit score might receive a discount. A higher score helps prove a customer can adequately pay for coverage.

Preventive Maintenance

It is even possible for home insurance rates to increase if the home is not well maintained. Keep up with all those minor problems like faulty thermostats or damaged shingles.

Tackle the large projects in good time as well. Never neglect the condition of your home. You just might save a bundle of money on your home insurance.

Materials of the Home

A home made of bricks tends to be cheaper to insure than a house made of flammable materials like wood.

Frequency of Claims

A homeowner with a history of claims will likely have a higher home insurance rate. It is advisable to review each claim before submitting it to the insurer. Your financial situation may mean you can afford repairs on your own, and won't have to submit a claim.

The result of frequent claim submissions might increase your home insurance rates.


Add a security system to your home and you will likely receive a home insurance discount. This reduces your risks of theft, vandalism and even fires in the home.

The Amount of the Deductible

A low deductible usually results in a fairly high premium. If you opt for a high deductible, your home insurance premium will likely drop. It is possible to reduce your home insurance premium by upwards of 25 percent by opting for a high deductible.

We've got you covered. Call Allen Harmon Insurance Agency today at (877) 205-0051 to get a fast, free home insurance quote. One of our agents can help you get the most affordable price of coverage.

Posted 7:15 PM

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