After moving across town—or even within the same neighborhood—you might have noticed that your car insurance or homeowners insurance rates changed. Robert Taylor Insurance, an experienced independent insurance agency in Lorain, OH, explains why your rates can increase or decrease—sometimes considerably—when you haven't even moved ten miles. Renowned for their expert advice and friendly service, they can help you find the most affordable home, auto, commercial, and life insurance if your current rates spike unexpectedly after a move.

Why Homeowners Insurance Rates Change Across Town

The most common reason homeowners insurance rates change after your move is that your new house is a good deal larger or smaller and, therefore, more or less valuable than your previous home. It may also have different risk factors, such as an in-ground pool. However, even identical homes that are mere blocks apart can have home insurance rate differentials that are surprisingly large. For instance, Home A is technically located in town and is serviced by the nearby municipal fire department. Meanwhile, Home B on the next block is out of city limits and is serviced by the county volunteer fire squad, which is 20 minutes away. This puts Home B at a greater risk of fire. Moreover, crime statistics vary from block to block, and, as is always the case with insurance, greater risk leads to higher insurance premiums.

Why Car Insurance Rates Change Across Town

As with homeowners insurance, the area where you live affects the cost of your car insurance rates. Neighborhoods with higher rates of vandalism, auto accidents, and car thefts are more expensive to insure. Moreover, if your move increases or decreases the distance you drive to work every day, you will also see a commensurate rate increase or decrease, since driving distance is a key factor in rate determination.

Contact Robert Taylor Insurance in Lorain to ask if you qualify for discounts. They can help customers find the most affordable auto and homeowners insurance after an unexpected rate hike. Visit them online for contact details, or call (440) 277-5191 to discuss your options with a helpful professional.