You purchase your new home and you set out to get Illinois homeowners insurance quotes. There are many things that go into the final determination of what your premiums will cost. They are broken down into three categories: your home, your choices, and other factors.
Your home – there are many things about your home that will have a bearing on how much you will pay for your homeowners insurance. They break down into the following areas:
- The cost to replace your home – many people think that your insurance is based on how much your home cost but it is how much will it cost to rebuild or repair your home in the event it is damaged or destroyed. It also matters what is inside your home that would also need to be replaced.
- What your home is made of – it matters to an insurance company if your home is made of wood or brick. Homes made of brick or concrete will enjoy lower premiums for their insurance.
- The distance from your home to the fire station – the closer your home is to a fire hydrant and the fire station is also factors in deciding your insurance premium. Of course the closer they are the lower you will pay for your insurance.
- The age of your home – the older the home the more it will cost to replace it and the more insurance you will pay. The newer the home the less your premium will be.
- The number of claims on your home – the insurance company will look at the history of claims made on your home and other homes that are located in your area.
- Your choice of coverage and your deductible levels will be part of the deciding factor at https://illinois-insurance.website/?p=2203 regarding your premiums.
- You will pay less if you bundle your insurance with your car insurance.
- Your credit history will also a have a bearing on your premium.
- Your insurance agent will look at previous claims you have made on previous properties.
- You can save money on your insurance if you have smoke detectors in each room of your home. You might want to consider a sprinkler system like most restaurants have for added protection. Also a security system will save you about 20% on your premium. Deadbolt locks also count towards less liability.