There are 5 things that can have a big impact on your home insurance premiums.
AGE. The age of your house is one of the biggest factors. There may be several areas of your home that aren’t up to the current building code, which makes it more expensive to repair or replace items. It’s also possible that some older homes are more likely to have damage or to have a fire break out, so the risk is higher for the insurance company.
FLOOD ZONE. Being in one of the high-risk flood zones can obviously make your premiums go up. But if your property is flagged as being in a flood zone, don’t despair. The flood maps can be incorrect at times and it’s possible to get a waiver sometimes.
SOME DOG BREEDS. Some insurance companies will ask about the breed of your dog, and they may charge higher rates for some breeds, or exclude any claims surrounding the dog, or they may decline to insure you at all.
ATTRACTIVE NUISANCE. Some insurance companies charge more if you have a pool or trampoline in your back yard.
PROXIMITY TO FIRE DEPARTMENT. The longer it will take the fire department to reach your house, the higher your premiums may be. It also helps to have fire hydrants close by.
Some of the above items you can change, but most you can’t. But don’t lie or exclude the information when you apply. One of the first things the insurance company does when a claim is filed is to double-check your application. If they discover the application wasn’t filled out truthfully, they can possibly deny your claim and cancel your coverage altogether. Check with your insurance agent to make sure you have the right coverage for your situation and be sure to discuss any of the above issues. They can often shop around to fit your needs.
If you have questions about real estate, call me at (925) 240-MOVE (6683). Voted “Best of Brentwood” multiple times. To search the MLS for free, go to: www.SharpHomesOnline.com. Sharp Realty. #01245186