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There are three main factors that impact your homeowners insurance costs.Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Price EvaluationThere are three factors that have the largest impact on your home insurance:Your home’s value: Consider the cost of your house as well as the total cost it would take to rebuild it because if it’s damaged or destroyed, you want to be insured for the full cost. Many times, this cost will exceed the price you paid for the home. A reputable builder can give you an estimate of the cost to replace your home. After you get an estimate, you’ll be able to insure your home accordingly. Location: The town or city comes into play, as well as other factors like the number of nearby fire stations. Insurers often use public protection classifications to measure the fire protection compatibility of your local fire department. Windstorms can also come into play, especially in areas like the Atlantic seaboard and Gulf Coast where insurers will include the cost of hurricane damage into the deductible instead of a traditional deductible. You must also consider crime in the area. If you spend some time learning about the risk associated with your home’s location, you’ll make sure it’s adequately insured. Your home’s design can actually impact your homeowners insurance. Condition: The age and condition of the house can affect your homeowners insurance, but you must also recognize that the home’s design can affect your insurance. For example, a home with a custom design may be more expensive to replace than one with a simpler design, making it more expensive to insure. Insurance companies also consider ‘moral hazard,’ or your likelihood of causing damage to your home because of apathy caused by having insurance. Maintaining your home’s condition can make you more attractive to insurers. In Florida, we also have a wind mitigation credit, which is great to have for impact windows or hurricane shutters throughout the house.If you have any other questions about the factors that impact your homeowners insurance, don’t hesitate to give me a call or send me an email soon. I’d be glad to help!