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Homeowners who live in areas prone to severe storms or floods might expect to pay more for insurance coverage, but there are dozens of variables that can affect your rates. Insurance companies base their premiums on the risk you’ll need to file a claim, which can be influenced by everything from the age of the house to your credit rating. Understanding how carriers calculate homeowner’s insurance rates can help you take steps to lower your costs.

4 Factors That Influence Homeowners Insurance Rates

1. The Age of Your Roof

Your roof protects the rest of your house from water damage, storm debris, and a broad range of other threats. New roofs made with high-quality materials are less likely to be damaged in a storm, so insurance companies will usually offer a discount to homeowners who make the investment.

2. A Home Security System

homeowner’s-insurance-raleigh-ncBecause homeowner’s insurance also protects the valuable belongings inside your house, carriers also look at your exposure to theft or vandalism. A cutting-edge security alarm with motion detectors and advanced sensors on doors and windows will keep your home safe and could bring down your premiums.

3. The Value of Your Home

If a hurricane, fire, or other covered peril destroys your home, your insurance policy should provide enough funds to rebuild. Larger, more expensive homes built with high-end materials will usually cost more to insure than more modest houses.

4. The Type of Dog You Have

If a guest is injured on your property, your kids break a neighbor’s window, or your dog attacks someone, your homeowner’s insurance should pay for their damages. It might not seem fair, but insurers believe certain breeds are more likely to result in a claim, so they’ll usually charge more for coverage.
 

The independent agents at Superior Insurance understand how essential a quality homeowner’s insurance policy is, which is why they’re committed to treating customers throughout the North Carolina Triangle like family. Drawing on their extensive expertise, they’ll compare options from a broad spectrum of leading insurers to find one suited to your needs. Visit their website to learn more about their homeowner’s insurance options, get more tips and advice on Twitter, or call (919) 224-8034 to reach their office in Durham. To speak with an agent in Raleigh, call (919) 790-9699.

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