Homeowner’s insurance is a necessity if you live in Smyrna. The peace of mind, the protection, and the security this policy provides is priceless, even if the insurance itself is not.

See also:  Homeowners Insurance Smyrna, Ga

However, that doesn’t mean you have no wiggle room in your premium price. Here are six factors that can influence the amount you pay for your Smyrna homeowner’s insurance premium:

1. Your insurance provider. The same insurance coverage may cost you a different amount based on the provider you choose. One company may have different rates because of their expenses, another because of the size of the company, and yet another because of the type of insurance provider they are. Rates may vary between independent agents, exclusive agents, and direct marketing agents.

2. Your coverage. Your Smyrna homeowner’s insurance premium is ultimately determined by the coverage you choose. You may add different riders and have a higher level of protection, which will influence your premium price.

The amount of liability you carry will affect your premium as well. Don’t forget to factor in things that aren’t covered by your traditional homeowner’s insurance policy, like flood insurance, when you consider the amount you’ll pay for premiums.

3. Your personal property.  If you have an extensive collection of valuable collectibles, vaults of precious jewelry, or a display of expensive art, you’ll have a higher insurance premium than someone else in Smyrna who does not own these things.

Your personal property, and the amount it would take to replace these items, will impact the amount of insurance you need, and therefore, change the premium you’ll pay. Someone with many expensive items will need more coverage—and have a higher premium—than someone who has fewer expensive items in the home.

4. Your credit history. Though you may not realize it, your credit history can play a part in determining your homeowner’s insurance premium. A lower credit score could mean higher premiums, while a high score might help you save money on those premiums. Your insurance company will consider whether you are a risk to them from a payment standpoint, and your rates will change accordingly.

5. Your claims. Filing a claim may change your insurance premium. Just like an automobile accident can raise your auto insurance, a homeowner’s claim can raise your homeowner’s insurance premium.

Even previous claims on the home prior to your ownership might impact the price you’ll pay. It is important that you talk to your Smyrna agent to find out how your claims will affect your premiums.

6. Your home itself. The size of your home, what it was constructed from, and its age are all variables when it comes to determining the price of your premiums. Any outbuildings you have on your property, pools, garages, and even the proximity to fire hydrants factor into your bottom line.

Alarm systems, improvements, and the type of dog you have are also considerations. Talk to your agent to find out how these things will help determine your rate and premiums.