Your home insurance premiums depend on a variety of factors, some of which are surprising to many homeowners. Basic influences on your home insurance premiums include your location, the replacement cost value of your home, coverage limits, deductibles, value of your belongings, credit score and claims history. If you have poor credit or a history of filing claims, you could see a rise in your home insurance rates.
Also keep in mind that the total replacement cost value of your home is not the same as its market value. The replacement cost value of your home can be calculated to include material and labor costs in the event the home was destroyed in a disaster. A Greening, Abercrombie & Piekarski Insurance agent can help you discover your home’s total replacement cost value, as well as introduce you to discounts that can lower your monthly premiums.