If you recently purchased a house, you’re probably unpacking and decorating. One responsibility you can’t neglect, though, is investing in a homeowners insurance policy. This protects your family, property, and belongings. To find out how much your coverage will cost, you’ll need to evaluate a few factors. 

3 Factors That Affect Homeowners Insurance

1. Deductible

Your policy deductible refers to the amount you’ll have to pay with your own money before your coverage kicks in and pays for the rest. Increasing this amount is an effective way to lower your monthly premiums. However, you should only do this if you’re confident you’d be able to cover the upfront expenses in the event of an accident.

2. Credit

Insurance companies believe that those who have higher credit scores are less likely to cause damage to their homes. If you have a favorable credit history, your premiums will be lower. If your score is low, paying down previous debts and maintaining on-time payments will decrease your monthly costs.

3. Security

Insurance companies also take security into consideration when determining your monthly payments. If they believe you’ve taken significant actions to deter damage and theft, they’re more likely to give you a better rate. To show the company that you’re less likely to file a claim, invest in new fixtures for your home. These can include security cameras, new fencing, and automatic lights lining the perimeter of the property.

If you’re ready to invest in a homeowners insurance policy, contact the professionals at K.L. Smith Agency in Willimantic, CT. Since 1953, they’ve provided affordable coverage to homeowners throughout the area. Visit their website to learn more about their policy options, and call (860) 423-9294 to discuss your needs with a team member today.