5 Reasons Your Homeowner's Insurance Costs More

Your homeowners insurance may cost more due to factors outside of your control. Even obscure factors can raise their insurance rates, including:

  • Having a dog breed that is considered unsafe - You should always check your state's list of unsafe breeds prior to adopting or purchasing a new dog. You may be surprised to learn many large dogs are considered dangerous.
  • Filing claims, even when they are not your fault - If you file a claim due to a windstorm or flood, you will see your rates go up, even if it is not your fault.
  • Living in a home where the previous owner filed multiple insurance claims - You had no control over the claims made on your home by the previous owner, but you will still pay for them today. They can indicate an unsafe property to an insurer.
  • Owing on your taxes - If you have tax liens on your property, your insurance may skyrocket since you are considered a payment risk.
  • Having a poor credit score - Another factor that makes you a payment risk is your credit score. Low scoring individuals may find their rates on both their mortgage and insurance creep up simultaneously.