Shopping for a new home is one of the most exciting times you can experience, regardless of whether it's the modest first place you'll own yourself or an upgrade to the dream home you've always desired. As you browse real estate listings and visit open houses, it's easy to get swept away by the home's size, number of rooms or even the features it possesses. During this time, it's also advantageous to give some consideration to location-based factors that can influence your home insurance rate. While the rate that you'll pay each month to insure your home shouldn't solely influence what you should buy, it's worthy to consider. Here are three factors that can affect your insurance rate.
Distance To Fire Hydrants And Fire Stations
Initially, you might not feel too enthused about living close to a fire station—after all, doing so can mean that you'll be hearing sirens whizzing past at all hours of the day. However, this proximity can actually lead to a reduced home insurance rate. The premise is that by being so close to emergency services, a fire in your home can quickly be contained before it spreads, which is something your insurance provider will like. If there isn't a fire station near the homes you're considering, keep an eye out for hydrants -- living close to one can also help your rate.
Swimming Pool
A swimming pool is often a desirable feature for a home, especially if you have children or enjoy holding get-togethers at your place. These benefits aside, the concern with a swimming pool is the risk of drowning, which means you'll pay more home insurance for having this feature. The insurance company isn't just worried about one of your family members drowning in the pool; it's also cognizant of the fact that neighborhood children who might be visiting will also be at risk.
Neighborhood Safety
While the average homeowner doesn't want to move into a neighborhood that is unsafe, the reality is that your budget might partially dictate your choice of location. Insurance companies will charge more for insurance when a home is in a neighborhood with high incidences of property crime such as break-ins and vandalism. It's beneficial to consult your local police force or community crime awareness group to obtain crime statistics for any neighborhoods you're considering. Buying in a safer neighborhood will often lead to a lower insurance rate.
For more information, contact companies like Crooked Tree Preserve.
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