Does Home Insurance Varies In Price Like Auto Insurance?
February 21st, 2010 - ByPosted in Home Insurance
I know that expensive houses will cost more on home insurance, but what about your age, sex? Does it matter? I know that for auto insurance, 18-25 male, the premiums will be high, what about home insurance?
7 Responses to “Does Home Insurance Varies In Price Like Auto Insurance?”
February 21st, 2010 at 9:02 am
westernshippers, Home insurance covers lots of different things. I’m not familiar with all the details of my home policy, but my home insurance agent is always helpful. Try contacting your agent or a homeowners agent in your area. http://www.goodinternetdeals.com/Home-Insurance.html They should be able to assist you.
February 21st, 2010 at 2:12 pm
It doesn’t look like your age will have any impact on your homeowners insurance rate. You may be more likely to total a car if you are a young male, but not necessarily a great risk of burning your house down. Homeowners insurance is influenced more by the house itself and the neighborhood than it is by the owner.
The following is copied directly from:http://www.naic.org/consumer_homeowners_…
What Affects the Cost of Homeowners Insurance?
Like auto insurance, the cost of homeowner’s coverage depends largely on where you live. Crime rates vary from community to community and so does the access to your local fire department, police department, and water supply. These factors help determine the protection class. Along with the value of your house, the following factors determine the rates you pay for homeowner’s coverage.
* Type of Construction: Frame houses usually cost more to insure than brick.
* Age of House: New homes may qualify for discounts. Older homes may not qualify for preferred programs. Insurers may require older homes to have updated heating, plumbing, wiring and roofing.
* Local Fire Protection: Your home’s distance from a fire hydrant and the quality of your local fire department determine your fire protection class.
* Amount of Coverage: The amount of coverage you buy for your house, contents and personal liability will affect the price you pay.
* Deductible Amount: Your choice of a higher deductible will reduce the price for homeowners insurance.
* Discounts: Insurers offer lower prices for such things as insuring your home and car with the same company and installing dead-bolt locks or alarm systems.
February 21st, 2010 at 2:49 pm
What will matter is if you’ve ever had homeowners insurance before and ever had a claim. If you’re thinking of buying a home soon and are only renting, run out and get some Rental insurance! It’s not expensive at all and it will show you as previously insured. In other words, someone that has things that need to be insured. If you go out and get home owners insurance without ever having renters, it’s like getting your first credit card, you’ll pay more. Also, some insurance companies will do a credit check and that can certainly go against you. Be sure to shop around and definitely go with a company that is well known. Buying insurance is like a parachute….sure, you can get the cheapest, but if you ever need to use it….. you’ll get what you paid for. Needing a parachute is a one time deal when you need it! YOur home owners insurance should be the same in importance.
February 21st, 2010 at 8:24 pm
It’s not YOUR age that counts, or your gender, but the age of your house, or the construction, and location. A house in the boonies costs more than a house in the city – because if there’s a fire, it’s probalby going to burn down before the trucks can get there. Wood houses burn faster than brick. Log houses are almost impossible to partially repair.
February 22nd, 2010 at 3:10 am
You can easily check your quotes in internet, for example here – homeinsurance.awardspace.us
February 22nd, 2010 at 10:03 am
You may try to google it,here http://www.InsuranceFreeTip.info/insurance-for-free.htm has some direct resource that might be helpful.
April 7th, 2010 at 10:31 am
The protection offered by building and contents insurance, can cover a valuable home and all of its contents against a huge range of risks, but if you are one of the many people struggling to afford the mortgage that comes with a new house your first home then there are various government initiatives to help, it is not hard to find them.
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