Home Insurance Articles
Distance To Emergency Services And The Price Of Home Insurance Quotes
2010-08-25
The key term in purchasing real estate is "location." That's because property values are based on the overall value of an area. Home insurance is no different, and home insurance quotes are based on the replacement value of homes; those that are of a higher value will cost more to replace than those of a lower value. Therefore, it will cost you more to insure a home with a high replacement value than one with a lower replacement value. The proximity to emergency services is also a factor.
Your home's distance from emergency services determines in part what your home insurance quote will be. That's because how quickly, for example, firefighters can respond to an emergency can determine how much of your structure can be saved. That in turn would affect cost of replacement. Hypothetically, if there is a fire in your garage and firefighters arrive quickly to extinguish the flames before they spread to the rest of the house, it will cost your insurer less to repair your home than to replace it.
Your home is actually grouped into a fire protection classification that determines proximity to fire stations, fire hydrants, quality of water pressure and quality of fire protection services in your area. For example, your rate could vary depending on whether or not the closest fire station is manned by professional or volunteer firefighters. In reference to emergency services, your insurance agent might ask you if your home is within 1,000 feet of a fire hydrant. Access to a water supply with sufficient water pressure is critical in fighting a house fire. You can often qualify for discounts on your homeowner's insurance premium by installing fire alarms that alert authorities to an emergency or even a fire suppression system.
Crime statistics in your area can also affect a home insurance quote. A burglary, although not as drastic as a structure fire, remains a risk that insurers must factor into a home insurance premium. Homeowners' insurance policies will usually cover the cost to repair damage caused by burglars and the cost to replace stolen property. Therefore, emergency services such as a police station or substation close by can help minimize the risk of being burglarized. Installing dead-bolt locks and a home security system can make your home less of a burglary risk and can perhaps qualify you for a home insurance discount.
How much your homeowner's insurance rate is affected by proximity to emergency services will vary depending on your state and local area. It is always a good idea, however, to ask your insurance agent from time to time to reevaluate the risk and to periodically shop for new home insurance quotes.