How Premiums Are Determined

Before you start getting and comparing residential insurance quotes, you may want to have a good understanding of the basics.

Every individual has unique situations and circumstances that influence the decisions they make when selecting a policy. However, there are essentially five factors that can help determine what kind of insurance policy you may need and how much you should expect to pay for it.

You can purchase insurance to match the amount of risk you're comfortable accepting. The dollar amount you're willing to pay toward a covered loss — commonly referred to as a deductible — will determine the amount of your annual premium. Typically, you'll pay less for your policy if you select a higher deductible.

Your prior insurance history, even outside of Allstate, can affect the types of insurance you are eligible to receive and the premiums set for them. Other examples of what can affect your premiums are:

• Frequency of claims
• Insurance Score (related to credit history)
• Continuous coverage (few or no periods without insurance)

One of the factors used to price policies are the types of claims that have happened in your neighborhood. Things more specific to your home's location, like how close you are to a fire hydrant and fire station, are also considered.

See the most common claims in your area.

Those items that you use, enjoy, store and generally keep at home can be protected by residential insurance. The types and values of those things determine the kind and amount of Personal Property Coverage you may need.

How are your belongings covered? Find out by reviewing our personal property coverage section.

No matter what kind of home you live in, insurance can help protect you. The coverage needs of a house, condominium, manufactured home or rental differ so greatly that each requires a different kind of policy.

The age and type of construction of your home, and what it would cost to rebuild it, are some of the factors that determine the amount of coverage you may need and how much it will cost.

Allstate offers insurance tailored to your housing situation Select the type that best fits you:

• Home Insurance
• Condominium Insurance
• Manufactured Home Insurance
• Renters Insurance