The value of your home and the condition of the property can affect your home insurance rate, which may seem reasonable enough. However, insurers weigh a variety of factors when setting premium prices, some of which might be surprising even for long-time homeowners. Below are just a few of the unexpected ways you may be inadvertently raising your costs.

What Might Affect Your Home Insurance Rate?

1. A Pool or Trampoline

Swimming pools and trampolines may be fun and exciting, but your insurer will likely consider them “attractive nuisances.” This means they can draw young children onto your property and put them in danger. To cover the increased risk of these features, insurance companies typically charge higher premiums after they’re installed.

2. A Wood-Burning Stove

Anything that increases the chances of a fire breaking out in your home will lead to higher insurance costs. In fact, if you use a wood-burning stove as your primary heating source, many home insurance companies will decline to offer coverage.

3. Your Dog’s Breed

Standard home insurance policies include liability insurance, which should pay for damages if your dog bites a neighbor or another animal. However, if you own a pit bull, akita, chow, or other breed that is statistically more likely to be involved in a claim, insurers may charge higher rates or refuse to offer coverage at all.

4. Extremely Valuable Property

While standard home insurance policies protect your furniture, electronics, and other personal possessions, they may not be enough to cover especially valuable property. If you own expensive jewelry, antiques, firearms, or artwork, your agent may recommend extending your liability limits or purchasing a separate policy.

5. Where You Live

Unfortunately, many of the factors affecting home insurance rates are simply outside of your control. For example, your local crime rates, property values, and even the weather patterns in your neighborhood have an enormous impact on insurance costs, so you may want to request some quotes before making an offer on a home.

If you’re buying a home in Florida or Texas, the experienced agents at America’s Favorite Insurance & Tax are dedicated to helping you find the best coverage possible. Drawing on their in-depth understanding of the industry, they’ll compare policies from a variety of insurance companies, explain your options, and help you make the right choice. Call (972) 662-8221 or visit their website to request a free home insurance quote today.