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Home insurance is one of the best investments you can make. When your premiums suddenly rise, however, it’s important to look into why. Batavia, OH insurance provider Kramer-Myers & Werring-Dickerson Insurance advises that understanding premium increases can help you avoid them in the future, as well as protest current raises.

3 Factors That Raise Home Insurance Premiums

1. Location

home insuranceWhere you live has a significant impact on the quality of your home. If your neighborhood is in decline, has recently been subject to crimes, or is in a newly-designated natural disaster zone, your home becomes a greater liability to insurance companies. Because of this, they’ll raise your home insurance premium. They have to suspect that the unfortunate events could affect you as well and that they’ll be covered if that happens.

2. Dated Features

Although older homes come with a quaint, antique aesthetic, they’re also usually equipped with dated property features. Old wiring, shoddy piping, a weakening foundation, and other structural issues are all red flags for home insurance companies. Because they’re more likely to break down, home insurance companies require a larger premium to be compensated. It’s a great reason to consider upgrading old home features, and your home insurance agent can advise on how this will help your premium.

3. New Additions

While adding a new bedroom, pool, or garage to your home may feel like an upgrade, home insurance companies see it simply as more space for problems to occur. For pools — known in the industry as “attractive nuisances” — the possibility of children or guests being injured also affects your home insurance premium. Higher rates shouldn’t deter you from making new additions you really want, but it’s important to consult with your home insurance provider first to see how you can keep your premium down.

If you’re looking for quality home insurance solutions, turn to Kramer-Myers & Werring-Dickerson Insurance. They’re provided insurance since 1960 and will work with you to find a cost-effective plan that matches your budget. Call (513) 732-1461 today to speak with their staff, and visit their website and Facebook to learn about their life insurance and auto insurance options.

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