Do you know what impact a particular house has on your insurance premium?

Some types of homes can qualify for a discount, thus reducing your insurance premium. At Farmers, there are a variety of discounts that may save you thousands of dollars over the time you own your home. They include the following:

• New Home Discount - If your new home was constructed in recent years, you may get a break on your premiums.
• Home Renovation Discount - If your new home was constructed long ago but the heating & electrical or plumbing systems were recently renovated, you may be entitled to a discount.
• Protective Devices Discount - If your new home has burglar or fire alarm that contacts a central alarm company when triggered, you may get a reduced rate. Or if you have an automatic sprinkler system inside your house that activates in the event of a fire, you can get a discount.
• Fire Safeguard Discount - If your new home has automatic shut-off values professionally installed on all gas or propane lines, you can get a lower premium

Can the type of home affect insurance premiums?

Certain homes, even if they don't qualify for these discounts, may have lower insurance premiums than other homes because of certain features. These include:

• More disaster resistant components - If your new home has a reinforced roof made of stronger material, you may get a lower premium. In the East, a brick house may withstand wind damage more easily, whereas in the west, a frame house may hold up better against earthquakes. The right house in the right location may lead to lower premiums, not to mention a home that you can still go back to.
• Robust fire-fighting facilities nearby - Homes near a fire hydrant and close to fire stations with a professional staff may have lower insurance premiums than those close to volunteer fire departments or far from any fire station or fire hydrant.
• Low-risk location - Homes in some areas, such as coastal Texas or the Alabama waterfront, are vulnerable to storms and will therefore have higher premiums. Similar homes, just a few miles inland, may have lower premiums.

You may want to keep in mind the above information as well as the discounts available to you when purchasing your new home as the type of home you purchase can affect the amount of premium you will pay.
Even if you have fallen in love with a home that has a high insurance rate, your local Farmers agent can review your policy with you to see if you qualify for any other discounts not mentioned here or discuss with you other ways that you may be able to reduce your premium.