Your home insurance rates in North Carolina are based on many factors. By understanding the common major factors, you may be able to find areas where you can save on your yearly premiums.
The value of your home
The amount it will cost to insure an $80,000 home will be less than the cost for a $300,000 home. This factor also depends on the type of repair or replacement insurance. Options include actual value or replacement insurance. The amount of your deductible plays a role in your premium as well.
The risks to your home
The location of your home and the type of construction are major factors in calculating your homeowners insurance premium. If your home is located in an areas with a large number of wild fires, hurricanes or tornadoes, your premiums will be higher.
You cannot necessarily move your home to a better location, but you can take some steps to reduce risks. Smoke, fire and burglar alarm systems can reduce you costs.
Older homes with older roofs, outdated plumbing, HVAC and electrical systems, will cost more to insure. The insurance company is looking at the risks the home presents. Updating these systems can go a long way to reducing your insurance costs.
Your claim and credit history are considered in an insurance quote. If you file frequent claims, your insurance costs will be higher than if you do not. If the claim amount is small, consider handling it without insurance. Homeowners with a higher credit rating are seen as less of a risk than those with a poor credit history.
Property features also have an impact. If you have a swimming pool, trampoline or a dog that is characterized as aggressive, you insurance costs will be higher.
The independent agents at JC Demo Insurance Group are ready to help you get the lowest home insurance rates possible. You can also compare quotes online. Call us today to see how you can save on your insurance premiums.