How Your Home’s Location Affects Your Insurance Rates
Homeowners must take steps to protect their property and investments. However, while retaining the right insurance coverage may be a well-known necessity, purchasing a policy can also represent a significant expense. That’s why it’s essential to understand how specific details of your home, such as its location, can impact your homeowners insurance rates. By educating yourself on this key subject, you may be better positioned to mitigate risk levels and achieve lower costs. 
What Aspects of My Location Impact Premiums?
Your home’s location is one of the most important factors insurance carriers consider during the quoting process. As companies assess risk levels and analyze relevant perils, they may specifically consider the following:
- Natural disasters—Hurricanes, earthquakes, floods and wildfires can all wreak havoc on widespread areas, potentially leading to mass destruction and total losses of homes. If you live in an area prone to these incidents, you’ll likely need to pay more for your coverage.
- Crime rates—Several common criminal acts, such as burglaries, vandalism and damage caused by riots, are generally covered under most homeowners insurance policies. So if you live in an area perceived as being at greater risk of such incidents, your rates may be higher.
- Property values—As a general rule, if you live in an area where homes are valued more highly or where the cost of living is greater, you’ll need to pay more for coverage. This is due to insurers needing to plan for potentially higher claim costs.
- Proximity to emergency services—If a fire or other incident requiring help from emergency services affects your home, how quickly assistance can arrive is important to carriers. If you’re closer to such help (e.g., a fire station), you may be able to enjoy savings on your premiums.
Get the Right Coverage
Contact Total Insurance today to compare personalized quotes for homeowners insurance and make sure you have the right coverage at an ideal rate.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.