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Finding the right home insurance is not only desirable, it is required when you take out a home loan so that the lender can recoup costs in the event of property damage or loss. But of course, the more important thing is that you, the homeowner, is fully protected in case a tornado tears up your house, a drunk driver crashes through the sitting room, a burglar breaks in and makes a mess or steals valuables, or a roof leak leaves your upper floor in shambles with water damage and mold, just for example. As a responsible homeowner it is your duty to protect your asset, and this means shelling out the dough for home insurance. Unfortunately, there are a number of factors that can influence your rates. And having some idea of these elements could help to reduce your expenditure while still securing the coverage you need. Here are some common insurance modifiers that could affect your cost.

1. Your home. Perhaps the most significant factor associated with your home insurance rate is your home itself. Your rates are certainly linked to the value of your home, and this revolves around things like the size of your property, the size of your structure, the age of your home, and the type of construction. But it also has to do with potential liabilities such as a swimming pool, an aggressive dog, or even a business run out of your home, all of which could definitely raise your rates, if they’re even covered.
2. The climate. Where you choose to live is important since the weather conditions could affect the type of insurance you need to protect your home. In addition to standard homeowners insurance, you may have to spring for an extra policy to cover common natural disasters in your area. Flood is one that you have to pay extra for almost everywhere. But if California you’ll want earthquake insurance. In Florida you need to account for hurricanes. And in Kansas, coverage for tornados is a must. You get the idea.
3. Provider and policy. You’re bound to comparison shop before you purchase home insurance, and what you’ll discover is that different providers offer different policies, which can certainly affect your rates, as can the deductible you opt for. But you don’t necessarily want to go for the cheapest policy you can find; you need to read the fine print to make sure it’s not too good to be true.
4. History of claims. If you have a minor incident that you’re well equipped to handle on your own, it’s probably best not to bother with an insurance claim for the simple reason that too many claims can cause your home insurance rates to go up. And before you cry foul, you should know that this practice is clearly spelled out in your contract, most likely.
5. Number of policies. It can seem like no matter which way you turn there is something associated with buying home insurance that will cause your rates to go up. But there are also ways to make your rates go down, and one of the best is purchasing multiple policies from the same insurance provider. Whether you go with the nearest Pronto Insurance Franchise or opt for Progressive because you like their commercials, the important thing is to find an insurer that can meet your needs for home, auto, life, and other insurance policies so that you can bundle them at a great discount.