Nobody likes to pay more than they have to so when purchasing a home it's important to know that there are features that increase your homeowners insurance based on risk and liability. Here are five home features that can increase your homeowners insurance.
#1. Location.
Where you live can affect your homeowners insurance costs because the riskier the location, the more expensive it will be to ensure it. This could be people living in hurricane or tornado zones, homes that are prone to earthquake locations, flooding, or erosion. In Palm Desert, it gets so hot that we have to make sure homes are properly ventilated and have the equipment to cool down the house.
#2. Safety.
High crime areas can mean higher insurance costs. Installing security systems can save you money and could lower your insurance costs.
#3. Pools and hot tubs.
Your home can be a liability if you have a swimming pool or hot tub in the backyard. You want to be completely covered in this means being honest with your insurance company about any of these hazards. Even if people break into your house and are injured or drown in your backyard, you will be liable.
#4. Trampolines.
Similar to pools, a trampoline can pose a high risk for children and anyone bouncing on it. If you have a netting around it or it's an enclosed trampoline, it might not be as high of insurance as if it's completely exposed. But you'll want to make sure you understand your insurance carriers policy regarding trampoline.
#5. Age.
The age of the home can affect homeowners insurance costs. An older home will naturally have more issues and need more maintenance, which means that things are liable to break down quicker than a new home. The age of your home will affect your homeowners insurance policy.
One of the biggest things to remember is to be honest with your insurance company in everything about your home so that you are properly covered in case of an emergency.
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