3 Things Affecting Your Homeowners Insurance Premiums

Home is where you hang your heart, and there truly is no place like it.

Owning a home might be a great investment, but it’s so much more than that. By making the decision to own a home, you are setting your roots. For many, this might mean starting a family, making memories and growing up surrounded by people who love you.

Although owning a home is a wonderful experience, and purchasing home insurance is a must, you might wonder why your insurance premiums fluctuate over the years. You might be aware that things like location and past claims can impact your homeowners insurance premiums, but did you know that your sweet dog Fido could affect your rates?

Here are a 3 things that might be affecting your homeowner’s premiums:

-Your dog. Since we already mentioned your dog, let’s start talking about sweet old Fido. Owning a dog can result in higher premiums. Unfortunately for even sweet dogs, the rising costs of litigations for dog bites and other similar incidents have caused premiums to rise as well. Although it might seem frustrating, these heightened premiums are intended to protect homeowners/dog owners from injuries and damages incurred as a result of a pet.

-Your pool and trampoline. Having a pool in the backyard certainly does add a certain aesthetic. And c’mon—no matter how old you are, everyone has fun jumping on a trampoline! That being said, these backyard attractions have a tendency to bring with them injuries, safety issues, and worse, if the proper precautions aren’t taken. There are ways you can prevent premiums from getting too high, like adding safety fences to the pool and padded springs to the trampoline, but higher premiums are practically a given when it comes to things like pools and trampolines.

-Your woodstove. Your woodstove and fireplace could both be causing a spike in your insurance premiums. Residential fires are most commonly caused by cooking fires and heating fires. And oftentimes, even if you’re properly maintaining your woodstove or fireplace, there’s little that can be done about the costs of your premiums.

The important thing to remember is that, as frustrating as a higher premium can be, its purpose is to protect you, your family and your home from any potential harm. Luckily, regardless of your situation, Latorre Insurance is here to help you find the most beneficial, affordable homeowners policy for your unique situation. Contact us today for more information!