Learn how your home insurance premium is calculated.

Generally speaking, your insurance company calculates your home insurance based on your individual risk factors.  This means that the riskier you are to cover, the higher your premium will be.  Wonder what insurance companies see as risks?  Here’s a list of factors that can affect your home insurance premium.


Your home’s location is one of the most common factors that affects how your rates are calculated.  For instance, if your home is right on a fault line, it has a greater risk for earthquake damage.  This risk translates into higher insurance premiums.  Additionally, if your home is in a dangerous part of town, your rates might be higher due to your home’s increased chances of being vandalized or robbed.


If you have a furry friend, they might be costing you some money on your home insurance.  Insurance companies view pets in relation to the damage that they could do to your home.  This means that pet owners generally have higher rates than non-pet owners.  If you have a large dog or a dog that is considered “dangerous,” then your rates may be even higher.  In some cases, insurance companies will refuse to insure you at all.


While having a spa or a pool in your backyard is a great luxury, it does affect your home insurance premium.  Because spas and pools increase the chances of an accident (slipping, drowning, etc.) happening on your property, your rates will reflect this higher risk.  If you have a pool or spa, you should expect your insurance rates to be higher than your neighbor without a pool.

These are just a few factors that affect how your home insurance premium is calculated.  If you want to learn more about how your individuals risk factors are assessed or if you simply want to get the best coverage for your budget, then contact the professionals at Weaver & Associates.  Located in Arcadia, California, our dedicated team is ready to get you the coverage you need today.