Essential Factors That Determines The Price of Your Homeowners Insurance Quote

Written By Alla Levin
December 01, 2022
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Essential Factors That Determines The Price of Your Homeowners Insurance Quote

There are many factors that insurance companies take into account when coming up with a homeowners insurance quote. What you pay for coverage will reflect your home’s age, location, and construction type.

However, there are some other essential factors to consider as well. In this post, we’ll talk about the essentials that drive the price of homeowners insurance. Read on to learn more.


One of the most significant factors that determine your homeowners insurance quote is where your home is located. You can expect to pay more for coverage if you live in an area prone to natural disasters like hurricanes or earthquakes. That’s because there’s a greater chance that your home will sustain damage from a natural disaster than if you lived in an area with a lower risk.

Dwelling Coverage

Dwelling coverage is the part of your homeowner’s insurance policy that covers the structural elements of your home. This includes things like the foundation, framing, walls, and roof. The amount of dwelling coverage you need depends on the replacement value of your home, which is the amount it would cost to rebuild it if it were utterly destroyed.

The Price of Homeowners Insurance Quote: Credit HistoryThe Price of Homeowners Insurance Quote

Your credit history is another important factor in determining your homeowners insurance quote. Insurance companies use credit-based insurance scores to help them determine how likely you are to file a claim. Studies have shown that people with lower credit scores are more likely to file claims than those with higher scores. As a result, people with lower credit scores typically pay more for their homeowner’s insurance than those with higher scores.

Claims History

You can expect to pay more for coverage if you’ve filed multiple claims on your homeowner’s insurance policy. That’s because insurers view customers who have filed numerous claims as higher risk than those who haven’t filed any claims at all. Some insurers may even cancel your policy if you’ve filed too many claims in a given period.

Marital Status

Did you know that getting married can save money on your homeowner’s insurance quote? That’s because insurers view married couples as less risky than single people since they’re more likely to take care of their homes and be proactive about preventing damage. As a result, married couples typically pay less for their homeowner’s insurance than single people do.

Age Of Your Home

The age of your home also impacts how much you’ll pay for homeowners insurance. Older homes are often less energy-efficient and have outdated electrical and plumbing systems, which can increase the likelihood of problems and make them more expensive to insure. On the other hand, newer homes are typically built with features like hurricane-resistant windows and roofs, which can help lower the cost of premiums.


Your deductible is the amount you’ll have to pay out-of-pocket before your insurance policy kicks in after a covered event. The higher your deductible is, the lower your monthly premium will be since you’re taking on more risk yourself by agreeing to pay more if something happens to your home.

Determine Your Homeowners Insurance Quote: In Closing

There are a lot of factors that go into determining how much you’ll pay for homeowners insurance. Some, like location and dwelling coverage, are out of your control, while others, like credit history and deductible, are within your control. By understanding the factors that impact how much you’ll pay for coverage, you can be sure to get the best rate possible.

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