If you have been wanting to get a a low cost homeowners insurance policy, but don’t know how to go about it, you should start by understanding the key factors that influence your rates. There are a number of variables that determine your premium prices. However, there are some that affect your premiums more than others. Right from your claims history, your deductibles, your home security solutions to your age, many factors can affect your insurance prices. Let’s look at the 3 important factors you should consider to lower your rates:
Where you’re located can highly influence your insurance rates. Location plays one of the major roles in determining your insurance premiums. The various factors that come into play include:
2. Home Characteristics
The characteristics of your home will determine what kind of coverage you need and how much insurance you’ll have to buy to rebuild or replace your home in case of a total loss. The factors involved include:
3. Insurance History
Many homeowners don’t know that the more claims you file; the higher premiums you have to pay. Even if the loss was due to a weather-related activity, your claims can keep on increasing your premiums. When determining a loss history of a customer, insurance companies usually look at the loss severity and the loss frequency. If you tend to file smaller claims frequently, the insurance company will increase your rates for 2 reasons:
The best way to get better rates on your policy is to file minimum claims and only call your insurance company if it is a major loss that you cannot afford to pay by yourself.
Give the insurance experts at USA Mutual a call today by clicking here, to see how we can help lower your Homeowners Insurance premiums.