Home insurance rates often vary from one carrier to another, and might even change dramatically from house to house. These inconsistencies can sometimes make premiums seem somewhat arbitrary, but insurers base their rates on extensive information, which they use to determine how likely you are to file a claim. Below are just some of the issues they weigh when calculating your monthly rate.

5 Factors That Affect Your Home Insurance Costs

1. The Condition of the Roof

Your roof protects your home, and its belongings, from the elements. Older roofs are more likely to spring a leak or lose shingles in a powerful storm, so they usually result in higher premiums.

2. The Age of the House

Many people find older homes more personal and charming, but they may be more expensive to insure. Home insurance companies generally offer lower rates for newly constructed homes, which are built to meet the latest safety codes and use more advanced materials.

3. Pools & Hot Tubs

Pools and hot tubs are features of a dream home for many people, but you’ll likely pay more for home insurance. While a pool can provide your family with hours of fun and relaxation, they may also lead to accidents that can result in expensive liability claims.

4. Your Location

Homeowners in every area are exposed to unique threats that can damage your home. Homeowners in Texas might have to contend with ice storms or tornadoes, while Florida is subject to massive hurricanes and flooding. Home insurance also covers belongings lost to theft or vandalism, so the crime rates in the area may also make a difference.

5. The Size of Your House

The best policies are based on the cost of rebuilding your home, not the sale price. But since larger houses are more expensive to reconstruct, more square footage will usually equal higher premiums.

You’ve worked hard to buy your dream home, so let the home insurance professionals at the Beadle Insurance Agency protect your investment. With over 40 years of experience, they help homeowners throughout the Lubbock, TX, area choose coverage tailored to their needs at the best rates available. Visit their website or call (806) 385-3426 to request a free quote.