Four Seasons Sotheby's International Realty
Four Seasons Sotheby's International Realty
MARIANNA VIS, Four Seasons Sotheby's International RealtyPhone: (603) 860-8115
Email: [email protected]

Homeowners insurance: A basic guide to factors affecting premium cost

by MARIANNA VIS 08/26/2024

Towhomes with text about insurance premiums

Purchasing homeowners insurance protects your home and assets in case of emergency. As premiums increase, you may wonder what affects insurance costs. There are several factors determining the cost of your homeowners insurance, and understanding them will help you choose the best coverage.


Geographic location

Geographic location plays a huge role in homeowners insurance costs. Areas inclined to certain natural disasters can see a spike in insurance price. Some natural occurrences are not covered under standard insurances. 

For example, you may live in an area prone to wildfires. Yes, fires are covered under standard insurance. However, if you live in a place where they often occur, insurance costs may rise. 


Home structure & condition 

The premium cost of your insurance may be higher depending on the condition of your home. Living in an older hold may signal repairs may be needed more frequently. Due to this reason, the homeowners insurance premium would be higher. 


Roof condition 

In addition to the overall home condition, the state of your roof is a large factor on insurance premiums. If the roof is older, it will need to be replaced sooner, and the cost of this replacement can be significant. If the home you purchase needs this replacement sooner, insurance premiums may rise. 


Home safety by location 

Many factors in your very own neighborhood can have an effect on the cost of your insurance. For example, you may live in an area prone to tornadoes. Due to this occurrence happening frequently, it can increase your insurance cost. 

However, if you live in an area less likely to be hit by large storms or other natural perils, your insurance premium may be lower. 

 

About the Author
Author

MARIANNA VIS

Why be ordinary when you can be remarkable? 

Marianna Vis of Four Seasons Sotheby’s International Realty’s Bedford office has over two decades of real estate experience in the Bedford, New Boston and Southern NH area, with 1000+ homes sold, over half a billion in sales, and consistently placing in the Top .1% of New Hampshire Realtors® year after year. Facilitating over 41 million dollars in New Hampshire home sales in 2023, Marianna is also the number one Listing agent in the town of Bedford, NH again …and has been the top Agent for neighboring New Boston for over 11 years. And she has placed in the “Top 10” REALTrends list of America’s Best Real Estate Agents since 2019.