7 Actions that affect your Homeowner’s Insurance

homeowner's insurance

Besides paying your mortgage, owning a home comes with other expenses such as repairs and homeowner’s insurance. An increase in your homeowner’s insurance premium can seriously put a dent in your monthly budget, which makes it essential to look at options for homeowner’s insurance Florida has available such as Hallandale Florida Insurance groups. Keep these seven actions that can impact your rate in mind.

1. Remodeling
Remodeling improves the look of your home and increases its value, but can also increase your insurance premium. This is because it’s more expensive to rebuild if a disaster occurs, but not informing the company can mean you don’t have adequate coverage.

2. Attractive nuisances
Items that are fun, such as trampolines and pools, known as attractive nuisances, will increase your premium. Your liability can increase due to more significant risk. Limit access by using gates, fencing, and locks.

3. Installing a wood stove
Wood stoves are a rustic way to keep your home warm, but increase your premium because they can be dangerous. Verify that your stove is installed by a licensed contractor to comply with code requirements.

4. Running a home business
Running a business out of your home is convenient, but you need to have coverage for your equipment and inventory. You might need to purchase a policy with more coverage to protecte both your home and business.

5. Owning a dog
Dogs increase your insurance because there’s a risk that they could bite someone. Some companies charge higher rates or outright refuse to ensure certain breeds of dog. Check with your insurance before bringing a dog into your home.

6. Luxury items
Expensive cars and jewelry increase the risk of theft and can hike your premium. You may need to purchase a separate rider for your policy to provide coverage for the more expensive pieces you own.

7. Making a claim
Making a claim is why you have insurance, but a history of claims will likely impact your rate. Try to limit claims to only when you need them and cover more basic repairs or expenses out of your pocket if possible.

Riemer Insurance Group can help you find the right policy and coverage limits that meet your needs.

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