Things That Increase Your Homeowner’s Insurance Risk

home insurance

Everyone is looking to reduce homeowner’s insurance premiums. Most people think the only way to reduce your homeowner’s premiums is to shop for the best price. While that is always a good idea (our agency represents many fine and stable insurers that we can select from), lowering your risk is a big factor in obtaining lower insurance rates.  By improving your homeowner’s risk, you will attract better insurers and obtain the best possible price for your risk.

Here are factors that will increase your risk factors (and your premiums) in the mind of the insurance company:

  1. Pets and farm animals. Not all pets are going to increase premiums, but owning a German Shepherd, Great Dane, Siberian Husky, Doberman, Rottweiler, Pit Bull, or any other dog that could be considered aggressive, could raise insurance rates.
  2. Owning a trampoline will increase your rates. Trampolines result in approximately 92,000 hospital visits each year.
  3. Claim Frequency. Multiple claims may be seen as a larger risk and charged accordingly. On the same property, damage from a burst pipe, a tree that falls on the roof, or a kitchen fire will raise a red flag and cause insurers to take a closer look.
  4. Swimming pools (both above and in-ground) will increase your homeowner’s insurance rates. Over 1,000 people die each year because of pool accidents.
  5. Condition of your home. Keep up on basic home maintenance. Keep your roof in good repair.
  6. Fire Concerns. When it comes to fire stations, location is also important. Living too far away from a fire station or hydrant may result in higher insurance costs. Of course, a neighbor’s pool, as well as a nearby pond, could be a source of water in an emergency. Or living in an area where wildfires are a regular event will increase tire premiums.
  7. The location of the home, much like in real estate, is quite important. Homeowners who live in Tornado Alley, along the coast of Florida (or any coast), in a hurricane-prone state, or in a sinkhole-prone area can expect to pay extra for homeowners’ insurance.

According to a recent research, 69 percent of homeowners are underinsured. Unfortunately, many homeowners believe they are completely insured and are surprised to learn, after a loss, that their coverage is inadequate.

Choosing the best homeowners insurance coverage for your home and belongings is dependent on a variety of factors, including local crime rates, flood risk, and wildfire threats, as well as the specific personal property coverage and deductibles that make the most sense for your household.

Buying home insurance should be an important part of your financial planning. It is important to consider many different things in order to obtain the best possible combination of coverage, price, and service.


A Basic Homeowners Insurance Policy Will Cover The Following:

  • The structure of your home
  • Replacement cost
  • Personal possessions (up to a set limit)
  • Living expenses in case of a disaster
  • Liability
  • Renters insurance (duplex, apartment)

We also understand that you want your claims covered and you want outstanding customer service. Unlike some faceless internet company, we will always work more than “7 minutes” to find you the best possible combination of price, coverage, and service for your insurance needs.

Davidson Stewart Morelock Independent Insurance Group LLC (DSM) was formed in 2008 (Originally Stewart Morelock Insurance, est. 2005) by insurance professionals with over 50 years of combined experience in the property & casualty insurance industry….experience includes; senior officers of regional insurance companies & wholesalers, reinsurance brokers, personal & commercial insurance production agents, agency owners, underwriting managers & agency directors. DSM is directly appointed with all major insurance carriers and brokers, and has the capability to place virtually all lines of business and personal lines insurance.