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Factors That May Affect Your Homeowners Insurance Premium

homepremiumThere are numerous factors that could affect what you pay in homeowners insurance premiums, some of which may be out of your direct control such as weather conditions or the criminal activity happening in your neighborhood. Despite these uncontrollable factors, there are steps you can take to reduce your risk of loss and potentially keep your premium from skyrocketing.

If you own pets, there are certain breeds that are considered uninsurable, such as German shepherd, Doberman pinscher, and pit bulls. While dogs tend to be the most common pet, this also extends to certain exotic animals. Make sure to be aware of what pets may be blacklisted.

Do you own a pool? If so, it should be secured. A gate, fence, or another safety measure that reduces the risk of an accidental drowning is a good idea. Alternatively, you could save money on your premium by simply not having a pool.

Did you know that your credit also plays a role in what you’ll pay for insurance? Insurers will closely examine your credit score and whether or not you pay your dues on time. Poor credit could mean a higher premium.

This information is provided by Miami insurance attorney Alonso, Perez & Santos, LLP.  Our areas of practice include bankruptcy, insurance litigation, debt harassment, credit card defense, foreclosure defense, immigration law, condominium law, business start-ups, and more.  Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.