1 / 8

What Factors Have the Most Impact on Your Home Insurance Cost

You never know when a fire or flood will destroy something in your home that cannot be replaced. This could happen to any of us at any time and without warning. Valley Insurance Group's home insurance will help pay for the things that have been covered in the event of an accident.

Tim19
Download Presentation

What Factors Have the Most Impact on Your Home Insurance Cost

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHAT FACTORS HAVE THE MOST IMPACT ON YOUR HOME INSURANCE COST?

  2. Home is one of the most important things you have probably invested in your life and own. Hence, it is essential to protect it and your possessions from unexpected events like calamities or burglaries.

  3. Homeowner’s insurance in Ohio depends on several different factors. They have been listed below: Coverage Type: Homeowner’s Insurance in Ohio comes with different packages, and the premium you pay depends a lot on the coverage type you have selected. The coverage you get may vary from 3 years to 30 years and protect your possession against a wide range of perils and damages. Home’s Location Matters: The location of your house plays a very important role in determining the cost of your home insurance premium. Dangerous areas often have greater chances of calamities and thefts hence shooting up the price of your home insurance in Ohio.

  4. Dwelling Coverage Amount: The Dwelling Coverage Amount includes the amount that needs to be covered because it will cost more insurance if a covered peril damages your home. Personal Property Coverage: The more personal property you have, the more the insurance will cost you. However, the homeowners can choose the personal property coverage that they want.

  5. Deductible Amount: A home insurance deductible is an amount required to be paid before the insurance company begins paying for your remaining damage to the house. When the deductible increases, the premium reduces, whereas when the deductible decreases, the premium increases. Your Home’s Age and Condition: Old homes are more prone to damage and wear and tear than new homes and, therefore, are perceived as risky by the insurance company and may incorporate more premiums. Credit History and Score: One thing credit history provides an payment record, which helps predict a person’s ability to pay their home insurance on time. insurance company with is a person’s

  6. Frequency of Claims: The more the frequency of claims you have, the more expensive your coverage becomes as the insurance companies will be able to see your past claims. Remodeling: The price of your home and the cost to rebuild it: The price of the home and the cost required to rebuild it forms an essential part of the premium you pay to the insurance company as the insurance company will estimate the amount it would need to make your home or rebuild it. Remodelling tends to increase the home’s value, thereby increasing the premiums to be paid by you.

  7. Many factors determine the insurance cost. Some are beyond our control, such as the size and age of the house. Some may be controlled, such as the personal property we possess. Take time to analyze options, and protect them with insurance!

More Related