St. Louis Home Owner’s Insurance
Getting the best rates on your existing home owner’s policy or getting a policy for a new home purchase can be influenced by many factors.
Some of the Factors Influenced by the Home Owner(s)
- Do you have a “dangerous” dog breed?
- Not always a pit bull, aggressive dogs of any size can trigger adjustments or denials of your home owner’s policy cost.
- Any idea what your Insurance Score is?
- Similar to a credit score but will look at any liens, judgments, or garnishments.
- Are you married?
- It may not the be the case but married policy owners have fewer claims and are rated accordingly.
- Claim’s History
- Based on the last 7 years, your claims history has proven to be a good predictor of future claims. Called the Comprehensive Loss Underwriting Exchange or C.L.U.E you can request a free copy here.
Some of the Factors Influenced by the Home
- Replacement Cost
- Getting an independent appraisal is often warranted to get an accurate replacement value rather than just the mortgage owed which will include the down payment, land and interest.
- Wood Burning Appliances
- Stoves, fireplaces, or other heating will definitely change how you rated with your home owners insurance.
- Home Based Business
- From an Ebay store to a business that includes expensive equipment you want to account for any inventory, equipment, records and loss of income if the home was a total loss.
- New roofs, HVAC, or other improvements should be reflected in your policy value to make sure you’re covered for the investments and get any discounts that may apply.
- Age and Construction
- Quality of materials, safety and other standards have changed over the years. Aging materials can increase risks for leaks, fires or accidents and will often negatively affect your rate.
- Pools and hot tubs
- Risk of injury or death increases the cost of insuring your home. If you are considering one of these improvements check with your agent.
- Neighborhood statistics, proximity of fire and emergency departments, flood risk are just some of the considerations.