What factors do home insurance companies consider when setting premiums?

I'm trying to guess how much I'll end up paying for insurance for my new home. What factors are at play when setting premiums?

There are many different factors that are taken into consideration when an insurance company is coming up with your premium, such as the age of your house, the materials used to build your house, the roof type and age of your roof, any updates that might have been made to your home, your credit score, home security systems, and claims.
There are also liability exposures that can cause you to have higher premiums, such as owning a dog or having a swimming pool and/or trampoline.
Alexah Grinnell
Answered on Mar 12, 2021
Alexah Grinnell has been working in the insurance industry for 5 years with a primary focus of coverage consulting in the sales department. She has been working for Jerry Insurance since July of 2019 and has also has experience working for AAA and State Farm. She currently lives in Rochester, NY with her husband and 3 kids

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