From Insurance Lounge

  • Home features and characteristics – Your home’s age, structure quality and value all affect replacement cost, which affects your premium. The older your home, the more it will generally cost to insure.
  • Location – If your home is in a decent neighborhood where there is less likelihood of theft, close to the fire station, and in an area free from tornadoes or earthquakes it will generally cost less to insure. If any of these factors are untrue, your home will cost more to insure.
  • Protective devices – If your home is armed with a home security system, sprinklers, smoke detectors, locks and so on, it will help lower the cost of your premium.
  • Personal factors  – Personal factors such as credit score for on-time payment, and weather you’re a smoker or non-smoker can affect your premiums.
  • Claims history – If you have made claims on a homeowners policy before, this can cause your premium to increase.