alchemy insurance factors that influence home insurance
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Factors that Influence Home Insurance
Homes age and type of construction
If your home is older, theres a higher chance there will be problems with major components like plumbing, electrical wiring, and HVAC systems. New homes are less susceptible to these major problems.
Location
If you live in an area prone to natural disasters, with a relatively high crime rate, or located far from emergency services, expect to pay more for your policy.
Claims History
If you file several claims a year, you are more likely to pay a higher premium
Risk Factors
If your home has a swimming pool, aggressive dog, trampoline, or other characteristic deemed risky, youll likely pay a higher premium
Credit Score
Your credit score (whether good, bad, or average) has an impact on the price of your policy
Deductible
The level of deductible you choose plays a role in the price of your coverage. If you choose a high deductible, that means you have to pay more out of pocket if an incident does occur. The trade-off is a lower premium.
Coverage Amount
The amount of coverage you select will play a role in the price of your insurance
Alchemy Insurance
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