What Factors Can Affect Homeowners Insurance Rates?

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What Factors Can Affect Homeowners Insurance
Rates?
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• When looking to insure your home, its only
  natural that you would search for the very best
  rates possible, but how do you know what might be
  affecting those rates and if there is anything
  you might be able to do to lower them, without
  compromising on the level of protection it
  affords you?
• If youre confused as to what is making your
  homeowners insurance rate so high, the following
  information might be of use
• What is the primary factor that affects a
  homeowners insurance rate?
• According to experts, its the simple likelihood
  of a homeowner filing a claim that directly
  affects insurance rates, and this likelihood is
  usually referred to as a risk.

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• Determining just what level of risk a homeowner
  poses, is often done by the insurer having viewed
  any past home insurance claims the individual may
  have made, along with any claims related to that
  property, and the homeowners credit rating.
• The frequency of any prior claims and their
  severity, can play a significant role in
  determining rates, and if there is more than one
  claim relating to the same issue, such as storm
  or water damage, then the risk factor is
  increased tenfold.
• If you want to insure your home but have had
  multiple claims in the past three to seven years,
  your insurance premium could skyrocket and put
  you in a higher pricing tier altogether. There is
  also the chance that you wont be eligible for
  home insurance.

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• What other factors can affect your insurance
  rate?
• Some other things that might have a significant
  impact upon the rate of interest for homeowners
  insurance, include the neighborhood that your
  home is in, how high the crime rate is in your
  area, and the availability of building materials
  should you need to make any structural repairs,
  all play their own roles in helping to determine
  the rate of interest youre offered on your
  homeowners insurance.
• Annual premiums may also be adversely affected by
  other coverage options, such as deductibles, or
  added riders for wine, jewelry and works of art
  etc.

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• While the type of building you live in, what its
  made from and how old it is can also be factored
  in by risk analysts, along with the type of
  heating servicing the home, proximity to the
  coast, presence of a swimming pool, security
  system and much, much more. You might even be
  surprised to know that if you have a puppy in
  your home, your rate of insurance could rise,
  since young animals have been known to wreak
  havoc and destroy items when left unattended.
• All in all, there are many factors of varying
  significance that can have an impact upon
  homeowners insurance rates, but talk to your
  local insurance specialists, and theyll work out
  the best rate for you under the circumstances.

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• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Auto, business and homeowners
  insurance in miami. Our agents understand that
  you work hard every day to protect your car,
  home, business and family. WE are passionate
  about Insurance and passionate about serving you.
  If you are looking for auto or business or home
  insurance in miami, contact us for a quote or a
  complimentary review of your insurance policies.