Unexpected Factors Impacting Your Orlando Home Insurance Rates
Most Orlando homeowners are looking for the best insurance coverage available at the lowest possible rates to get the biggest bang for their buck. However, most don’t realize that Orlando home insurance premiums are determined by a wide variety of factors, not just the type of policy, coverage limits and deductibles a policy holder may choose. The rates you pay as a home owner vary based on location, size of the property and other factors as well. Here are a few factors that many homeowners do not realize can impact their ability to secure inexpensive homeowners insurance.
- Pets– Having pets can be a rewarding experience for many Orlando residents, but from an insurance standpoint your furry friends can also increase your injury and liability risk exposures. As such insurers often factor a policy holder’s pets into their rate. If you have a dog, there is a strong change that your pet’s breed might increase your Orlando home insurance premiums, especially for large breeds and breeds frequently deemed “aggressive” such as pit bulls, boxers, rottweilers, Dobermans and others breeds. Furthermore, owning an exotic animal or breed might make finding home insurance nearly impossible, as some insurers might consider your pet too risky.
- Your Credit– Insurers often check a policy holder’s credit report to see if the individual regularly pays their bills on time. The credit score numbers are also a frequent factor in determining premium rates. A lower credit score could result in higher premiums depending on your insurance provider.
- Owning a Trampoline– While it might sound silly, owning a trampoline can be a huge risk exposure. Experts indicate that trampoline related activities result in approximately 92,000 hospital visits each year. Users are often unaware that one wrong fall or slight misstep off the elastic surface can cause spinal, head, neck and other severe injuries such as fractures and bone breaks.
- Property Upkeep– Some homeowners may be surprised to learn that regular home maintenance and upkeep can help keep home insurance rates from drastically rising. Owners who don’t keep up with their home maintenance may see their rates raised or their homeowners insurance cancelled altogether. Leaky roofs, old hot water heaters, dripping pipes and poor water seals are just some of the items to watch out for.
Working closely with local insurance providers l throughout Central Florida can help homeowners secure the perfect coverage to fit their needs and risk exposures. Newman Crane provides the complete home insurance Orlando residents need at affordable rates. Our personal insurance specialists can help craft the right policies for all your assets. To learn more about our Orlando home insurance or any of our policies, give us a call today (407) 859-3691.