Every house in every city is different. However, the insurance company uses some universal factors to determine how much the rate’s going to be. Everyone applying for homeowners insurance should know about them before they buy a house. Consult the guide below before asking an insurance agent for more information.

Common Factors That Might Increase Your Home Insurance Rate

1. Age and Condition of the Home

Older homes generally have higher insurance rates, since the materials to maintain, repair or rebuild it become rarer and more expensive over time. If you’re planning on purchasing an older house, consider upgrading heating, electrical, and plumbing systems rather than repairing or replacing. Use modern building materials rather than sourcing the originals. This will help decrease your rate. Depending on your homeowners insurance plan, some of the improvement costs might be covered.

2. Attractive Nuisances

Swimming pools, hot tubs, and trampolines add an incredible amount of fun to your home. However, they also increase the likelihood of injury, as well as your premiums. Homeowners are liable for anyone using the features, whether they had permission to or not. Installing safety equipment for these items won’t reduce premiums, but might prevent liability coverage from increasing, since the equipment is a preventative measure.  

3. Level of Protection

Proximity to a fire or police station can decrease your insurance rate. For security, install deadbolts to your doors and locks to your windows. Consider installing fire and security alarms that automatically notify authorities if there’s trouble. While these features can be expensive, they can decrease your rates between five and 20% depending on your homeowners insurance plan.

4. Claims History

If you’ve previously filed too many claims, companies might increase your homeowners insurance rates. Insurance companies consider your current house, as well as previous ones you had plans under. The reason for the claim is usually more important to the insurance company than the amount of the claim.

5. The Roof

The roof is one of the most expensive parts of your home. It also takes the most punishment from the elements. A new roof will have a smaller premium than an older one. Repairs done to the roof might be covered by your homeowners insurance. Consider adding additional weather protection to your roof, like hail or impact-resistance, which will help lower your rates.  

Are you in need of guidance on your homeowners insurance? Reach out to Barron Mutual Insurance Company. Operating since 1891, they’re experts in property insurance and have used their experience to provide the coverage their clients need while also considering their budget. Based in Barron, but also servicing the counties of Bayfield, Burnett, Washburn, Sawyer, Polk, Rusk, and Dunn, you can request a quote or set an appointment at (715) 537-5141. For more about their century-long history in Wisconsin, and for a list of their many coverage areas, including farm, mobile home, and rental insurance, visit their website.