What Type of Residence Do You Live In?
Home, Condominium, Townhome, Rental or Manufactured Home.
The differences between these types of residences are considerable.
Each has its own policy type, requirements and more.
When Was Your Home Built?
Typically, a home is less expensive to insure when it is newer. As a home ages, the insurance rates increase. A brand new home is usually the least expensive to insure. However, no matter how old your home is, you can generally get an additional discount for buying a home that is "new to you," which will phase out over 5 years. Ask if that is available in your area.
What is Your Home Made Of?
It's the "Three Little Pigs" principle - and why they ended up in the brick house. The wolf wasn't able to blow the brick house down. In addition, wood is an easier target for fire. Not that we all should live in brick homes, but this tale helps illustrate why what your property is made of matters.
Where is Your Home Located?
Your location (from your residence to your community) carries a history of events that may have caused home and property losses in the past. These statistics help insurance carriers usually determine premiums appropriate to the area's risk.
Does Your Home Have an "Historic" Designation?
If your home is listed on the National Registry of Historic Homes, The National Register of Historic Places or any other locally designated Historical Society, a landmark status may be a factor in how your home should be insured. This is certainly important information to share with your agent.
How Far are You From Fire Protection?
The closer the better. Take a drive to the nearest fire station, or map it using Google Maps or MapQuest. Note the mileage. Count your steps to the nearest fire hydrant and multiply by three to roughly estimate the distance in feet.
Have You Had Any Recent Losses or Claims?
Be prepared to talk about the number and nature of losses you may have experienced in the last five years.