Home Insurance Articles
How Distance From Services Affects Home Insurance Premiums
2010-09-02
Buying a home is usually the single most expensive investment that anyone will make during their lives. It only makes sense that a homeowner will want to protect that investment by purchasing home insurance. Home insurance covers expenses incurred from a partial or total loss of property. Fire, theft, vandalism, hail or windstorm can all cause damage to a home. Not many people can afford to dish out thousands of dollars in home repairs or renovations should one of these occur. Many factors affect the cost of a home insurance premium, including the age of the home, the location, and distance of services. Obtaining a home insurance quote will help a homeowner determine how much they will pay for annual insurance premiums.
If a home is located close to a fire hydrant, the premiums will be lower than if the closest one is miles away. The reason is simple; if there is a fire, a fire hydrant provides the water to combat the flames. As well, the proximity to a fire station makes a difference. The closer the station is, the lower the premiums. In the event of a fire, the longer it takes the fire department to reach the home, the more damage that will occur and the more expensive the claim will be. There is also a difference in premiums depending on whether the fire department is volunteer or paid. Volunteer firemen may take longer to assemble and get to the scene of a fire. Because of this fact, more damage can be done and insurance companies will have to pay out more in claims.
Living in a home that is situated close to a police station is also a factor in determining home insurance rates. Theft, vandalism, and home break-ins are common crimes in many cities. Being close to a police station reduces the time they need to respond to an emergency call. A home security system can help deter these crimes, but they do not always stop thieves. If a person does manage to break into a home with a security alarm, being close to a police station may make a difference in whether or not the thief is caught.
When shopping around for the best home insurance quote, it is important to have all of this information on hand so that a person receives the most accurate quote possible. If a person is in the process of looking for a home, then it is important to remember to look at the distance of services from the house in order to keep home insurance rates low. These factors help reduce the possibility of claims; the more claims on a policy, the higher the premiums.