FACTORS AFFECTING THE COST OF YOUR POLICY

FACTORS AFFECTING THE COST OF YOUR POLICY

Some of the factors considered when determining the cost of your insurance are:

The quality of local fire protection — Municipalities have different capabilities in combating fire. Many factors such as volunteer vs. full-time firefighters and the availability of approved fire hydrants and equipment make up the protection classification assigned to your area.

Type of construction — Masonry or noncombustible materials decrease the possibility of severe damage or total destruction in the event of a fire. A home with at least two thirds of its exterior wall area constructed of these materials may benefit from a lower premium.

Where you live — The average cost of a Homeowners policy is affected by the different loss experience of the cities and counties throughout the state.

Coverages, limits and deductible — The more coverage, the higher the limits, and the lower the deductible, the more your insurance will cost.

High Risk Home Insruance
DISCOUNTS AND CREDITS

New Home

Discounts ranging from 2% to 20% are automatically applied to any home that is less than 12 years old. The age of the dwelling is determined by the time since completion of the original construction. This discount applies to homeowners policies only.

Premises Alarm or Fire Protection

Credits from 2% to 18% are available for various types of burglar alarms, smoke alarms, fire alarms and automatic sprinkler systems.

Superior Construction

A 15% discount is given automatically to any home, condominium or apartment unit if the exterior walls, floors and roof are built with noncombustible materials.

Automobile Policyholder Credit

If you have both a Homeowners and an Automobile insurance policy with the same company, you may be eligible for a discount on your Homeowners premium (excluding several optional coverages). We will automatically apply the discount to your policy if our records indicate that you qualify.