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Homeowner’s Insurance Premiums Explained

Many people believe that they have little or no control over their homeowner’s insurance.  Often, people think that premiums are determined by some “secret formula.”  It is true that every company has rates for their homeowner’s premiums, but there are many factors that help make up your homeowner’s premiums.

Factors That Help Determine Your Homeowner’s Premiums

  • Location
  • Age of home
  • Age of roof
  • The replacement cost
  • Distance to fire station

Get the Best Possible Homeowner’s Premiums

  • Install deadbolt locks.
  • Increase your deductible.
  • Some insurers offer occupational discounts for teachers, police, firefighters, government employees, etc.
  • Install a central station security system.
  • Your agent can help you evaluate the different policies and companies so you can make the choice this is right for you.
  • Ask for other discounts offered by your insurer.
  • Make sure your replacement cost is up to date.
  • Do you have replacement cost or actual cash value (ACV) coverage? We recommend replacement cost.
  • Do you need loss of use coverage? Most homeowners and renters do.

You work hard to build a future for yourself and your family, and it’s important to protect what you already have while providing for a financially stable future for your family. Whether it’s protecting assets such as your home, automobile and valuables, or insuring that your family is taken care of should something happen to you, the professionals at Leap / Carpenter / Kemps are here to help.


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