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How Your Home's Age, Materials, And Condition Can Affect Your Premiums

by Rick Mcguinness

When you purchase home insurance for your house, the insurance company will base your premiums on a lot of different factors. While there are some you can control, there are other factors relating to your house and area that will affect your rates that you have no control over. Here are some of the factors relating to your house that may affect the amount you pay for your home insurance coverage.

The material your house is made with

You may not realize this but the material you see on the outside of your home can affect the amount you pay for your home insurance coverage. Homes that are made of brick are often considered safer than those that have siding, and this is primarily because storms and fires cannot damage brick as quickly as they can damage siding. If your house has siding only, you are probably paying a little more than you would be if your home was made of brick.

The age of your home

Insurance companies also factor in the age of a house when they are calculating quotes for home insurance. Newer homes are usually considered safer than older homes, which is why people will often pay more when insuring an older house than a newer one. Older homes may have faulty electrical systems, which puts a homeowner at a higher risk for an electrical fire occurring. Older homes may also be more prone to water damage and mold issues from faulty plumbing.

The safety of the area

The area in which you live can also affect your premiums. If you live in a really safe area that has very little crime, or if you live in an area where the homeowners rarely file homeowner's insurance claims, your insurance company is likely to give you a discount on your policy. Homes that are located in areas with high crime rates will pay higher rates for insurance coverage.

The distance to the nearest fire department or fire hydrant

The insurance company is also likely to calculate how far away you are from a fire hydrant or fire department. This is important if a fire strikes your home, because the distance you are located from a fire department makes a difference in how quickly they can arrive to extinguish the flames. If you are located next to a fire department, you will probably pay less than you would if you were located 10 or 15 miles from a fire department.

There is not a lot you can do if your house has features that are considered risky to an insurance company, but you can request quotes from other insurance companies. If you feel you are paying too much for your home insurance right now, contact a different company to request a free quote. For more information, visit websites like