Do you ever wonder why you pay more for home insurance than your friends in the south? It might seem unfair, but factors such as the neighborhood you live in, your home’s proximity to rivers and trees, and the number of claims you previously made can all influence the cost of your home insurance in Detroit, MI. Here at Premier Insurance Agency, we hold a fundamental rule that the greater the risk of loss or damage involving your possessions, including their estimated value, the more your premiums are likely to be.

Knowing the following factors will help you on your homeowner’s policy:

Neighborhood – Insurers keep statistics on claims made from different locations in Detroit, MI. These claims are then recorded and calculated into rates. Therefore, if you reside in a neighborhood that is prone to burglary, your premium may reflect that.

Claims, coverage, and deductible – The higher your deductible – the amount you agree to pay upfront when claiming – the lower your insurance rate. A higher deductible can reduce the number of small claims you make, keeping your claim history clean, which in turn contributes to keeping rates down.

Value of your possessions – It goes without saying that the more valuable of items you own and want to be insured, the more you will have to pay. At Premier Insurance Agency, we ensure our clients are cognizant of this obvious, yet important factor.

Proximity to water and fire halls – Being close to or living in an area that is deemed to be prone to flooding may cause your rates to increase. Hydrants and fire halls may lower your premium because every extra minute of response time can affect the extent of the damage.

Premier Insurance Agency in Detroit, MI is dedicated to helping customers find the right home insurance policy. To speak to one of our dedicated experts, call 866-680-7283.