Your Home Insurance Cost Depends On These Factors

​Purchasing your dream house brings a sense of fulfillment. As a first-time homeowner, you are eager to protect your investment from unforeseen events so your home can continue to secure your family. One of the best ways that you find is getting home insurance. 

It is an insurance policy tailor-fit to safeguard your house, other home structures, and your personal belongings in your house. Standard home insurance can provide coverage for damages brought by windstorms, hail, fires, and lightning strikes to your house and other structures associated with it.

Home insurance can also shoulder the cost of repairing or replacing a damaged personal belonging due to a covered peril. However, you might be wondering about the factors that dictate the cost of your home insurance.

Your State
Few homeowners are aware that the state where they live is a major contributing factor in your home insurance cost. Believe it or not, the state you are residing in helps determine if you will pay more or pay less in your home insurance.

For example, if your home is in Louisiana, Texas, or Florida, you might be unaware that you are paying a higher home insurance premium every than the national annual average. However, if you live in Oregon, Utah, or Idaho, your yearly home insurance premium is nearly 50% lower than the national average.

The explanation is simple. Louisiana, Texas, and Florida's geographical location makes them more vulnerable to hurricanes and storms, while Oregon, Utah, and Idaho are not disaster-prone areas. 

Hence, if you reside in an area that is more prone to disasters, it increases the risk that a disaster might damage your house. Thus, insurance providers will charge you more on insurance premiums.

Your House's Age and Condition
Other than your state, the most significant determinant of your home insurance cost, of course, is your house. The age of your house dictates the premium that you need to pay. Typically, traditional places like Victorian houses have higher home insurance costs than the typical American home.

Vintage homes like these are more expensive to repair or rebuild, considering that some of their materials are harder to find. Older houses also have older structures like plumbing and wiring, which are more susceptible to fire and other hazards.

Conclusion
Undeniably, homeownership is an aspiration of most people. That is why you should feel fortunate if you get one. It is essential to treat your home as an investment that you need to value. Getting home insurance is the best way to protect your home from any perils.

At Kapasu Insurance Services Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (760) 995-3853 or Click Here to request a free quote.