Tips for Calculating Your Home Insurance in Durham
Home insurance provides homeowners with stability, security and peace of mind that their investment and belongings will be protected, no matter what the future holds. Whether you are a new homeowner shopping for your first home insurance policy or have existing coverage that needs to be updated to suit your needs or budget, Petley-Hare can help. Not sure what factors will impact the price of your policy? Read our tips below or contact our Durham insurance brokers for friendly advice and quality service from our team of experts. We can answer your questions and provide you with adequate coverage that is suitable for your needs, budget, and property.
Factors that Could Increase Home Insurance Cost
Here are two factors that will have a direct impact on the cost of your insurance premiums. This shortlist is by no means exhaustive, but will give you an idea of the common factors and types of risks and identifiers insurers look for when underwriting your coverage.
- Dogs and Exotic Pets – If members of your family have a little more fur or feathers than average, your insurance rates may be higher than average, too! Dog bite claims are extremely common, making your canine a liability that will drive your rates higher. Exotic pets like snakes, tarantulas and big cats will also increase costs because of the risk factors associated with these types of animals, even once they are domesticated. Certain policies will exclude ‘risky’ dog breeds, so checking with your specific policy and filling in any coverage gaps is critical. Speak to your Oshawa insurance broker to learn more and consider taking your pet to obedience classes, which some companies will offer discounts for completing.
- Attractive Nuisances – This sounds contradictory, but will be a big factor for insurance companies when they assess your property. These are features of your property that make it ‘attractive’ or more valuable, but are seen as ‘nuisances’ to insurance companies because they pose some sort of risk or liability. Pools are the most common one, and will increase the cost of your policy because of the safety issues that they can cause. Trampolines are another common residential ‘attractive nuisance’, since they can also lead to injury. Not ready to part with your attractive nuisance? Follow the insurance company’s advice and install safety fences in order to keep your rates as low as possible.
Want to learn more, or have specific questions about your property? Don’t hesitate to contact our insurance experts in Oshawa today. Petley-Hare makes shopping for home insurance policies easy, with our easy-to-use and comprehensive online insurance quoting tool. Alongside our team of reliable and experienced insurance professionals, you can find the best Durham home insurance with transparent costs and coverage.
Want home insurance in Oshawa that suits the unique needs of your home and family? Petley-Hare has a team of Durham insurance brokers who can customize a home insurance solution that is right for you. Call us at 1-647-557-6653.