Home Insurance Rates
Opening your home insurance statement to find that your premiums have increased can be very bothersome. While there are many reasons for the increase, many homeowners are not aware of them. Some of the most common factors that will drive up your homeowners insurance costs include:
- Getting older – as your home ages, it will cost more to insure since it becomes much more vulnerable to certain issues. As your roof, plumbing, heating, electrical, and cooling systems all age, they are much more likely to be damaged or have a problem.
- Your location – although the location of your house probably did not change, some factors about your location may have. If the cost to rebuild homes in your local area has increased, so will your insurance rates, since most of your premium is based on what it would cost to rebuild your house from the ground up. If your area is more prone to storms or other weather conditions, you may also see a rise in your costs.
- Home additions – adding a pool to your backyard or building a guest suite at your house will increase your home insurance premiums. The more it will cost to rebuild your house due to extra square footage, and the more risks at your property, including a pool, will mean paying more for your protection.
- Losses – Just as in auto insurance, carriers can surcharge your home insurance due to prior losses. Whether it is a theft loss or water loss, these can be carried over for three years and charged additional premium for prior loss history.
For all of your home insurance needs throughout Yorba Linda and Placentia, California, contact the independent insurance agents at Bisson Insurance Services. We will work with you to make sure that you have the right amount of coverage for all of your needs.