Ep. 40 - How Homeowner Insurance Prices are Impacted by External Factors and When Can We Expect a Decrease in Premiums
Update: 2023-06-05
Description
Homeowners insurance is designed to protect homeowners from financial losses due to damages. On this episode I talk to Zack Lansat from Lanset Liability Insurnace. We Discuss What type losses have made it difficult in Florida to have insurance and why premiums are so high. Highlights from this week's Epsoide
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Location: The cost of homeowners insurance varies by location. If you live in an area prone to natural disasters like hurricanes or floods, insurance rates may be higher.
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Age of the Home: Older homes may be more expensive to insure because they may have outdated electrical, plumbing, or Roof that increase the risk of property damage.
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Coverage Limits: The more coverage you have, the higher your premiums will be. Homeowners who opt for a high coverage limit or additional coverage for expensive personal property may pay higher premiums.
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Claim History: Homeowners who have a history of making claims may be charged higher premiums because they are seen as higher risk.
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