What affects the cost of homeowners insurance?
The cost of homeowner’s insurance depends on the type of construction, the location, and the amount of insurance. A brick building, for example, is more fire-resistant than a frame building and sometimes it costs more to insure a frame building. Many insurers also charge less to insure a newer home than an older one because newer homes are less likely to sustain damages in storms and fires. Some areas have greater crime and vandalism problems than others. The building’s location affects the cost of coverage because some communities have better fire protection than others. Insurance companies divide the state into rating territories. Each city and locality in Wisconsin is given a fire protection classification ranging from 1 to 10, depending on the amount of fire protection in the area. These rating classes depend on such factors as water pressure, access to fire department, and the training and skills of firefighters. Most of the larger cities in Wisconsin are in classes 1-4, the lowes
The cost of homeowner’s insurance depends on the type of construction, the location, and the amount of insurance. A brick building, for example, is more fire-resistant than a frame building and sometimes it costs more to insure a frame building. Many insurers also charge less to insure a newer home than an older one because newer homes are less likely to sustain damages in storms and fires. Some areas have greater crime and vandalism problems than others. The building’s location affects the cost of coverage because some communities have better fire protection than others. Insurance companies divide the state into rating territories. Each city and locality in Most states is given a fire protection classification ranging from 1 to 10, depending on the amount of fire protection in the area. These rating classes depend on such factors as water pressure, access to fire department, and the training and skills of firefighters. Most of the larger cities in Most states are in classes 1-4, the l
