Things That Affect Home Insurance Rates

Home insurance is essential. It protects your home from unforeseen risks, such as fire, lightning, floods, windstorms, government action, and much more. However, this doesn’t mean that you overpay. With the right tips and tricks, you can significantly reduce the cost of your home insurance. But you need to understand the factors that can influence the cost of coverage. Read on!


A deductible is the amount of money you’ve to pay towards a particular loss before your insurer pays a claim. Opting for the right deductible amount is an extremely important decision. With a higher deductible, you stand a chance of saving more on your premiums.

Depending on where you reside, you might want to consider other deductibles when trying to balance your financial situation. If you live in an area that’s prone to disaster, for instance, your insurance policy might have a separate deductible for such kinds of damage.

Owning a Dog

You love your dog, right? But insurers might not be that enamored about it. The liability part of your home insurance protects you in case you’re sued by someone who’s attacked by your dog.

However, it’s important to note that certain insurers won’t insure you if you own certain breeds of dogs, like pit bulls and Rottweilers who’re considered highly dangerous. So, when discussing your insurance policy needs with an agent, be sure to provide details about your dog’s breed and history.

You may also want to consider investing in a separate policy if you’ve an “aggressive” dog. Certain insurers will increase your premiums, while others won’t. The standard home insurance rate for aggressive dogs is only 0.3%, remember.

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Wood-Burning Stoves

Wood-burning stoves can be environment-friendly and energy-saving. But they can significantly raise your home insurance rates. You might also be able to reduce insurance costs by providing your insurer with proof that the stove was designed and installed by a licensed contractor who meets standard code requirements. Wood stoves typically increase your home insurance premiums by 2 percent on average.


Any form of remodeling, whether it’s your kitchen or bathroom will significantly improve your home’s value. And the increased value will automatically be reflected in your policy. Just like it’s expensive for you to build a house, it’s also expensive for the insurance firm to rebuild it in case of a loss. Construction plus material costs will be taken into consideration and this could increase your premiums.

Building coverage is the portion of your home insurance policy that covers all the structures available on your property. Basic coverage typically pays for damages resulting from various natural disasters.

On the other hand, replacement coverage is what pays for your home’s replacement in case it’s destroyed.

The Bottom-Line

How does it feel about owning a luxurious home? Are you ready to lose such a precious possession? Then, protect it. And the only way you can achieve this is to purchase a comprehensive home insurance policy. Money Expert compare home insurance to give you the best deal on the market. Don’t take chances with your home. Make wise decisions today and enjoy a peaceful life.

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Author: Justin

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