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Why Is My Homeowners Insurance Premium So High?

Why Is My Homeowners Insurance Premium So High?

Things that Increase your Austin Homeowners InsuranceSince you spent months, maybe even years, searching for the home of your dreams, it only makes sense to protect that beautiful home with a comprehensive homeowners’ insurance policy. Many homeowners are surprised to find out that there are a variety of factors that increase the premium rates of their homeowners’ insurance policy, including:

  • Insurance companies will likely raise your rates if you have one of the famous attractive, but dangerous nuisances in your home. These include swimming pools, dogs, trampolines, zip lines, tree houses, and more. Sadly, the commonality of dog bite claims means you will likely have a spike in your homeowners’ insurance premium if you adopt a furry friend. Likewise, the amount of pool accidents that occur each year is astoundingly high, therefore, expect a bump in your premium.
  • If you decide to conduct a home renovation project with questionable structural design, you may notice an increase in your homeowners’ insurance premium. This may include a wood burning stove or risky wiring.
  • If you conduct business from your home, you will likely see an increase in your premium. Depending on your particular business operations of your home-based business, you may even need to purchase a separate insurance policy all together for coverage.
  • If you have any particularly expensive assets on your hands, such as collectable art or high-end jewelry, you may need additional insurance for coverage. Those expensive items put you at risk for burglaries and will influence your insurance premium.
  • Neighborhood trends may also affect how much you pay for your homeowners’ insurance. For instance, if multiple homes in your neighborhood are burglarized this summer, your home becomes more of a risk.

Contact the Insurance Agency of Dean Davis for all of your Austin, Texas homeowners’ insurance needs. As your biggest investment, your home deserves comprehensive protection. Allow us to provide you with the peace of mind knowing your home is receiving the best coverage.