Orlando Homeowners Insurance: Factors That Influence Insurance Costs

Orlando Homeowners Insurance: Factors That Influence Insurance Costs

When it comes to purchasing a new home, the price of homeowners insurance is not often a priority when determining a budget. However, understanding what it is that influences insurance costs could mean saving a significant amount of money per year.

Our agents at Newman Crane will provide you with the best policy at the most competitive price available, but it’s wise to keep the following factors in mind when you’re looking for a new home.

Susceptibility to natural disasters. While it’s nearly impossible to live in Florida and not be affected by a hurricane or tornado, you may be able to avoid living in areas that are not on typical storm tracks.

Roof and plumbing quality. Your insurance costs may rise if the roof, and plumbing, has not been updated in 25 years, as this puts you at greater risk for wind and water damage.

Electrical system status. While your system doesn’t need to be replaced, it does need to have been updated within the past 25 years to meet current codes.

Distance from emergency services. How close is the home to a fire station? This could affect cost; however every situation is different, so discuss your concerns with one of our agents.

Neighborhood quality. This can be subjective, but the largest determining factor is the nature of the claims filed in that neighborhood. You probably won’t have access to this information, but try talking to your potential neighbors to get an idea.

Age of the home. A new home means new utilities, which means you likely won’t have to worry about plumbing and appliance issues. This does not automatically discount older homes though.

Home and pool security. A security system that automatically generates a call to a security company or fire station could mean significant discounts on your premium. Also, living in a gated community can help. If the home has a pool, having an adequate fence around it could help as well.

At Newman Crane, it is our business to provide you with the highest-quality and most comprehensive coverage for your home in Central Florida. We have formed partnerships with some of the most respected insurance companies in the country, and together we can create the right plan for you, highlighting your needs and requirements. Call us today for more information about our Orlando, Florida homeowners Insurance policies at (407) 859-3691.