Not all home insurance coverage is the same, nor are they the same price. When in the market for homeowner’s coverage it’s important to make sure that you are shopping around for the best and most accurate homeowners insurance quotes for your situation. Read more for some facts about your insurance quotes.
What Goes into your Homeowners Insurance Quotes?
There are many factors that determine your homeowners insurance quotes. Every insurance company is different and prioritizes these aspects differently. While some may care more about the age of your home, other companies may care more about the location of your home.
Here are some of the factors that can determine your homeowners insurance quotes:
When it comes to your home itself, prices can change depending on:
- Whether you purchase a brand-new home
- Rebuild an old home
- The types of materials you use
- Security features you have set in place
Older homes with no updates tend to be more expensive to insure due to the chances of the home no longer being up to code.
If you live in an area that is more susceptible to natural disasters or your neighborhood crime rate is high, then your insurance quotes will typically be a bit higher. However, if you live in a home that is located in close proximity to local fire protection, such as a fire hydrant or station, then the price of your insurance can go down.
Yourself and Your Personal Items
Finally, you and your belongings can be a big factor in determining homeowners insurance quotes. Your credit score can either help you or hurt your rates. The type of appliances you have, personal belongings, and even pets can also increase the price of your quotes.
Types of Homeowners Coverage
There are a few different types of coverage that will be helpful when it comes to making sure your home is protected against any potential hazards.
1. Dwelling Coverage
This coverage will help you repair or rebuild your physical structure.
2. Other Structures Coverage
If you have structures that are not attached directly to your home, such as a detached garage, this insurance will cover that.
3. Personal Property Coverage
This coverage will protect your belongings, such as clothing, furniture, and electronics.
4. Liability Coverage
If a person is injured on your property and you are found legally responsible for their injury, this coverage will aid in covering costs in regards to medical bills and legal costs.
Many aspects go into determining the price of your homeowners insurance quotes. It’s important to shop around when deciding who to get coverage from in order to ensure you are completely protected and also not paying an astronomical price.
When trying to find the best insurance rates, contact Lighthouse Insurance. We provide instant quotes and compare to other leading insurance companies.