Purchasing a homeowners insurance policy is essential in protecting your house and possessions. However, the average cost of homeowners insurance varies widely across the nation. Understanding the different factors impacting the cost of insurance for homes in Volusia County is important in finding affordable insurance coverage.
Here are a few of the most common variables impacting the cost of homeowners insurance.
Location of Your Home
One of the biggest factors impacting the cost of insurance for your home is location. Insurance for homes in Volusia County is often higher compared to other areas of the country due to the threat of hurricanes. These natural disasters can cause massive damage to homes across a large area. Living in a city or rural location can also impact costs, as insurance for homes is generally higher in cities. A high-crime area with a large number of insurance claims will also increase the cost of your insurance.
Age and Condition of House
Insurance for your home may also be more expensive due to the age and condition of your house. Vintage homes will usually cost more to insure due to the construction materials being more costly to replace. A bad roof can also increase the cost of insurance due to the likely potential of leaks during a storm. Making a few home improvements can help lower your insurance while also providing additional protection.
Cost of Rebuilding Your Home
The cost of rebuilding your house will play a big role in the price of your insurance. Higher-priced homes will nearly always cost more money to insure due to them being more expensive to rebuild compared to lower-quality homes. Local construction costs will also play a factor in the cost of your insurance. Other factors include the style of your home and if you have any special or custom-built features that can potentially increase your insurance rate.
Additional Coverage Costs More
A standard homeowners insurance policy often includes coverage for personal belongings, liability against lawsuits, and additional living expenses. Choosing to increase the amount of these policies will provide you with additional coverage, but it will also raise your insurance premium. Carefully reviewing your policy is always a good idea, as an insurance agent will work with you to find the right coverage at the right price.
Bundling Insurance Policies
Many times you can reduce the insurance for your home by bundling multiple policies together. These cost savings can be significant, as it’s always important to compare multiple insurance carriers before choosing a provider. A local insurance agent can help you through this process by finding the best deals while also saving you a lot of time and energy.
Credit History
The cost of insurance for your home can also be impacted by your credit history. Looking at ways to improve your credit history can help you lower your insurance. Always paying your bills on time, disputing any credit report errors, and making frequent payments can all play a key role in boosting your credit score. Following these simple methods will not only help lower your home insurance cost but will also save you money in the long term.
Reduce Insurance With Higher Deductibles
Choosing to raise your deductible is another way you can lower the cost of insurance for your home. The deductible is simply the amount of money you pay toward a claim before an insurance provider covers the remaining amount. Always weighing the pros and cons of a high deductible is important before making a decision, an insurance agent can help you determine the right choice for your situation.
Safety and Security Discounts
Installing additional safety or security features for your home can result in a discount on your insurance. For example, you may earn a discount on premiums by purchasing a security system or installing deadbolts on your doors. However, it’s important to remember that insurance providers will offer various discounts, as working with an insurance agent is helpful in finding the best policy for your situation.
Why You Should Partner With Local Insurance Agent
Always shopping around for home insurance is well worth the effort to find the best coverage at the right price. Using a local insurance agent is an excellent choice, as they will compare multiple carriers to help you find the most affordable policy that meets your needs. You can also reach out to a local insurance agent at any time if you have any questions or need to make changes to your policy.
Reach Out to Wellcovered Insurance to Learn More
Wellcovered Insurance is an agency that works with numerous insurance carriers to help customers find the best coverage at an affordable price. Our office in Orange City is conveniently located to serve customers throughout Volusia County.
We take pride in offering the best customer service, as you will receive an auto insurance quote within 15 minutes, and it only takes between one to two business days to obtain a quote for homeowners insurance. Our company also maintains an active role in the community, as we are a member of the DeLand Breakfast Rotary and West Volusia Regional Chamber of Commerce.
Contact Wellcovered Insurance today to learn more about our insurance options!
