Factors Affecting the Cost of Homeowners Insurance
While the value of your home is a large factor in the cost of your homeowners coverage, the following factors also play a role:
- Age of the house – Newer homes typically have fewer maintenance issues. Insurers may require upgrades to systems such as wiring or plumbing before insuring an older home.
- Amount of coverage – The higher the required coverage amount for your home and all its contents, the more costly your premium will be.
- Deductible amount – Higher deductibles mean lower premiums, but you want to be sure you can afford that high deductible in one lump sum should you have to file a claim. (Minimum deductibles apply.)
- Discounts – A discount is offered for insuring both your home and auto insurance with us. Having deadbolts and an alarm system installed will also qualify you for a discount. Claims free and new home discounts may also apply. Ask your Alfa® agent about other discounts that may be available.