Swimming Pool that Raises Homeowners insurance rates

9 Weird Things That Affect Your Homeowner's Insurance

After leaving your annual homeowner’s insurance bill on the kitchen table for a week, you finally slowly open it. You sit for a moment starting dumbfounded at the amount of money you owe this year. If this scenario sounds painfully familiar, you might be interested in learning 9 weird factors that affect your homeowner’s insurance. Once you understand what triggers your insurance rate to rise or fall, you can adjust your policy accordingly.

  1. Your Private Vices
    If you are a smoker, you are probably paying more than the average homeowner’s insurance rate per year. It’s not because they care about your health. Insurance companies raise smokers’ rates due to the increased risk of house fires. There’s hope though! When people quit smoking for at least a year, their insurance rates are often lowered.
  2. Fido’s Lineage
    Does your beloved pet have a bad attitude? If your canine companion belongs to a supposedly “dangerous breed”, your homeowner’s insurance might be adversely affected. Breeds that are classified as dangerous often include Pit Bulls, Rottweilers, and Akitas. If you own one of these pets, you need to notify your insurance agent. If you fail to do so, your insurance company may refuse to pay for damages caused by your pup.
  3. Your Bone Structure
    Your home’s structure can positively or negatively influence your homeowner’s insurance rate. Do you live in tornado alley? If your area of the country experiences this type of disaster often, living in a brick home can save you money on your insurance. However, residing in a wood frame home will cost you.
  4. Hometown Blues
    Do you dream about living on a dirt road out in the country miles away from your nearest neighbor? If country living is your style, you can expect to pay more for your homeowner’s insurance. People who live long distances away from police stations and fire stations pay higher premiums than city or town dwellers. City centers come with their own trade-offs, though. For example, living in a high crime area will also cause your insurance rates to skyrocket.
  5. Garage Band
    Potential home buyers often look for a property with a large garage (even if they aren’t musically inclined). Big garages are handy for storing all sorts of items, especially tools, boats, and jet skis. Because of their infinite storage opportunities, they are often targets for greedy thieves. Therefore, having a spacious garage can actually raise your homeowner’s insurance rate.
  6. Your Mermaid Guesthouse
    On a hot humid day, nothing compares to cooling down in a luxurious swimming pool. Unfortunately, because of the inherent dangers of owning one, a swimming pool will raise your homeowner’s insurance premiums. There are still other factors though. For example, a diving board will raise your rate even higher, but if you live far from a fire hydrant, the pool’s water supply could wind up giving you a discount.
  7. Electronic Bouncer
    If you’ve worked hard to buy your dream home, you probably want to protect it from potential break-ins. This is easier to accomplish by installing an advanced security system than hiring an army of body guards. Your system may include cameras and an alarm. In addition to protecting your home from intruders, purchasing a security system might lower your homeowner’s insurance premiums because they automatically call the authorities if your home is broken into or if there is a fire.
  8. Your Dolla-dolla Bills
    Did you think you could relax about your credit score once you secured your mortgage? Not so fast. It could get you a discount. Insurance companies sometimes offer lower rates to customers who have outstanding credit scores. They believe that customers who are responsible with their credit will also be conscientious with the upkeep of their homes.
  9. Ramshackle Shack
    Is your property dotted with buildings besides your home? For instance, do you own a dilapidated barn, a mother-in-law cottage, or a tool shed? Having multiple buildings on your property will increase your homeowner’s insurance rates. If you own buildings that will never be used again, demolishing them might save you some money.

Homeowner’s insurance premiums are determined by a plethora of factors. If you want to lower your rate, you may even decide to tear down an old tree house or cancel your order of a swimming pool.

Last Updated: June 10, 2015