Seniors or members of certain organizations may also be eligible for a discount. The deductible your policy carries may also affect the price of coverage. The higher your deductible, the lower your premium. The larger the risk your property carries, the more expensive it will be to cover. Rates can go up depending on the age of the house or if it has a wood stove or an underground oil tank.
Location is also a factor.
Building a house right under Mount St. Helen's or on the San Andreas fault-line may increase the cost of coverage, as might a high crime rate in the neighborhood. How many previous claims you have made may also have an impact on the price of home insurance. If your house has been broken into 15 times, you may find it quite expensive, or even impossible, to get the same coverage. One of the most important things to remember is not to under insure or over insure your house. If you are under insured, you could be out a lot of money should your property be damaged.