The cost of homeowners insurance in Sacramento can vary. The average cost can be anywhere between $1,044 to $1,559 annually. Each homeowners insurance policy will be different. You may not get the same rate your neighbor pays. There are many factors that will determine the premium you pay for home insurance. In this article we will go over what affects homeowners insurance rates and potential discounts to take advantage of.
Factors that influence homeowners insurance rates
There are several factors that will help the home insurance company determine the rate you get. For the most part homeowners insurance is based off risk. The more risky it is to insure your property the higher your home insurance premium will be. Below we go over some of the main things that will be considered to calculate your home insurance premium:
The location of your home / zip code:
Where you live will play a major role in what rate you end up with. If the area you live in is prone to natural disasters more than likely you will be looking at higher rates. This can be said for homes located in an area with a high crime rate as well. Location, location, location.
The material costs to rebuild your home:
Some building materials are more costly than others. When you’re determining how much home insurance you’ll actually need if you are forced to completely rebuild your home, this factor will have to be taken into consideration.
How much homeowners insurance coverage do you need?
Some homes are larger than others. Some homes may also have special features that may require more coverage. The rate you pay for homeowners insurance will be directly affected by the amount of homeowners insurance coverage you need.
The homes age and the condition it’s in:
Homeowners insurance cost in Sacramento CA will be affected by the age and condition of the home. Older homes typically come with more issues than newer homes. The plumbing on a new home is new. The roof on a new home is also more than likely going to be new. Due to this simple fact newer homes usually will get a lower homeowners insurance rate than older ones.
Safety features and home security systems installed:
Risk plays a major role in determining the rate you receive on your home insurance. Reducing risk can in turn help you to lower your rate. If you install home security such as a burglar alarm or a safety feature such as fire sprinklers, there’s a good chance you will be rewarded with a lower homeowners insurance estimate.
Additional forms of home insurance coverage:
Every disaster is included in a standard homeowners insurance policy. For example flooding and earthquakes are not covered under a typical policy. If you needed protection from these risks you will need to purchase separate earthquake insurance or flood insurance.
The homeowners insurance deductible you choose:
Homeowners insurance average cost will be heavily affected by the deductible you go with. The higher your homeowners insurance deductible is, the lower your rate will be. It also works the other way, the lower your home insurance deductible is, the higher your rate will be.
The homeowners insurance provider you choose:
Every home insurance provider will have different rates. This is one of the major reasons you should choose to go with a homeowners insurance broker like Eugene C Yates Insurance Agency. Our agents can help you to shop multiple providers to locate the rate that’s best for you and your family.
Homeowners insurance California discounts
There are many ways to take advantage of home insurance discounts. Most will be applied to your policy automatically, but there are some you should ask your insurance agent about. Below we go over a few common was to save money on your homeowners insurance policy:
Loyalty homeowners insurance discount:
Most home insurance companies will reward customers that have been with them for a certain amount of time. Usually you will need to remain claim free, in good standing and update to date with your home insurance premiums. Typically the longer you are claim free, the larger the discount may be.
Impact resistant roof home insurance discount:
Your roof can suffer damage from multiple objects and severe weather conditions. If you have an impact resistant roof it can prevent repair or replacement which will in turn save the home insurance company a potential claim.
Bundle your different insurance products:
One of our favorite ways to save money on homeowners insurance is to bundle multiple policies. If you have an auto, boat, motorcycle, or another insurance product through the same insurance provider, you may want to consider bundling them to save money on your home insurance premium.
Homeowners insurance quote California
If you’re in the Sacramento California area and would like a homeowners insurance quote, please reach out to us at 916 313 6100. One of our wonderful agents will answer your call and walk you through the process and answers any questions you may have.