How Premiums Are Determined

Learn how different factors influence how much you'll pay

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.

Your Deductible Levels

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 History

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)

Your Neighborhood

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.

Your Personal Property

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.

Your Home Type

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.

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

The availability, qualifications and amounts of these coverages and discounts may vary from state to state. In addition, other terms, conditions and exclusions not described above may apply, and total savings may vary depending on the coverages purchased. In some states, we may offer coverages and discounts that are not listed here. For more information regarding your eligibility for certain coverages and savings opportunities, please contact your Allstate agent.

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