Why does your neighbor pay less for homeowners insurance—even if your homes are nearly identical?
It may not be the house. It could be you.
A recent analysis found that homeowners with similar homes can pay dramatically different insurance premiums based on factors such as:
1. Credit-based insurance score
2. Claims history
3. Deductible amount
4. Bundling home and auto insurance
5. Roof age and overall property condition
One of the biggest surprises? Your credit profile can have a major impact on your premium, even when the homes are virtually the same. Shopping around for quotes, increasing your deductible when appropriate, and replacing an older roof can all help reduce costs.
If you’re buying a home in Central Florida, don’t wait until closing to find out what insurance will cost. Getting insurance quotes early can help you avoid unexpected monthly expenses and make a more informed buying decision.
Thinking about buying or selling a home? I’m here to help you navigate every step of the process—including understanding the true cost of homeownership.
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