What factors can affect the cost of HO insurance?
There are many factors which can affect the cost of your homeowners insurance. Some factors, such as location, type of construction, and age of the home are beyond your control. However, there are other factors which you can control. The type of policy that you purchase will affect the cost of your insurance. For example, adding a personal property replacement cost endorsement to your homeowners policy will increase the cost. The amount of deductible you choose will also affect your cost. Selecting a larger deductible will lower your cost of insurance. Finally, the financial strength of the insurance company offering the product can affect the cost. Financially healthy companies can usually command a slightly higher premium because the guarantee made to the policyowner is a stronger one.
