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Top to Bottom: 4 Factors Impacting Homeowners’ Insurance Rates

As a homeowner, you understand the importance of insuring your home. You don’t want to drive back home after a long weekend to find it vandalized, on fire or flooded; there’s always a chance this can happen!

Depending on the location, size and age of your home, you could qualify for a steep discount on your homeowners’ insurance.

We understand: insurance is not an exciting purchase, unless you’re able to get a great deal! When you compare homeowners’ insurance with CoverHound, you’ll get offered top-notch deals with company leaders in the insurance industry, and it doesn’t stop there.

To make sure you get the affordable and ample homeowners insurance coverage, there are some things to be aware of in the industry. Here are four factors that impact your rates, for better or worse.

Poor Credit Score

According to, nearly one-third of Americans have a credit score ranking below 601. Keep in mind that credit scores between 580 and 619 are considered low, and a low credit score does not reflect well on a homeowner.

Home insurance companies distribute rates according to what is covered under the policy AND how likely policyholders are to pay their monthly or annual premiums on time. As your credit score is the pay history of your bill payments, a low credit score will result in a higher premium—this is in an effort to safeguard the insurance company from losing money. While insurance companies are there to help you, they’re still a business.

Swimming Pools

The Centers for Disease Control and Prevention (CDC) has found that 10 people lose their lives every day from unintentional drowning. Of the 10 drowned, two are usually children under the age of 14.

Because drowning is the fifth leading cause of unintentional injury death in the United States, having a pool in the backyard will elevate your homeowners’ insurance rates. If you have a pool and want to cut down the cost of your homeowners’ insurance, install a fence or some type of guard around the pool. A pool that has protective measures against drowning will save you on your insurance premiums.

Weather Maintenance Measures

If you live in an area with extreme weather conditions, your homeowners’ insurance rates will be higher than homeowners who live in more temperate climates. Consider reinforcing the structure of your home by installing weatherproof double-pane windows, replacing and adding insulation in the attic and basement and sealing areas in the home for drafts and energy waste.

Neighborhood Crime Rate

You may live in a beautiful, well-manicured and modern home with updated appliances and furnishings, but if you live in a neighborhood that has a history of break-ins, vandalism or other such crime, your homeowners’ insurance company will see insuring your home as a liability, thus increasing your insurance premium.

If you install a home security system, change the locks and safeguard your home, your insurance company will take this into consideration and likely offer you a discount.

Insurance companies like to reward their clients for doing well, just as much as CoverHound likes to partner customers with an insurance companies who reward clients. Find your new homeowners’ insurance plan today with CoverHound.

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.
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