Getting home insurance is most practical for homeowners who spent thousands of dollars in building their home. In times of disasters, you can always rely on your premium coverage. Calgary insurance companies are giving their clients assurance in filing claims.
You need to know the factors affecting your home insurance rates before asking for free insurance quotes. Insurers don’t look at the value of your home alone. These are the factors that greatly affect the calculation of your home insurance rates.
- Age and Type of Construction – Newly built homes are in better shape compared to older homes. Because of this, newer homes have lower premium rates than older ones. Edmonton insurance looks at electrical wiring, plumbing and HVAC system as significant features in determining your new homes insurance rate.
Plus new homes that are strong and sturdy with fire resistance materials are cheaper to insure than homes using flammable materials like wood.
- Location – This factor greatly affects home insurance rates. Insurance companies are offering high rates when your home is situated in an area where there are no fire stations within 5 miles. Premiums are also high if you’re located in an area prone to natural disasters such as wildfires and tornadoes.
- Claims History – It’s not advisable to file frequent claims. If you can do minor repairs, then better do it yourself. Most auto insurance Edmonton give higher premium rates to homeowners who have history of regular claims.
- Risk Factors – Car insurance Edmonton consider these risk factors as a major influence in getting higher home insurance rates. It includes swimming pools, guest houses, aggressive dogs and trampolines. Most insurance companies don’t want to cover for accidents involving these factors.
- Credit Score – It’s simple to understand. High credit scores mean lower risk level. Homeowners with good credit score file fewer claims than with those who have poor credit. Insurers reward homeowners who have high credit score by giving them cheaper insurance rates. To get more info on insurance companies, please follow this link.
Don’t think twice in spending your money for home insurance. Natural disasters happen when you least expect. Preparation is the key to avoid costly accidents. And buying insurance will put your anxieties to rest.