Planning to move homes carries with it a long list of responsibilities, including informing your insurance company of the change. It's important to be prepared for a change in your home insurance premium once you get settled in your new place. If you're eager to lower your home insurance premium as a result of your move, you don't necessarily have to put on your negotiating hat and call your insurance agent at a place like Coast Comp Insurance Agency. A number of factors related to your new home can result in a reduction in the amount you pay for insurance. Before you make up your mind about the new home you wish to buy, consider the following areas that can affect the amount you pay for insurance.
Proximity To Fire Station
Many insurance companies provide homeowners with a discount if their home is within close proximity to a fire station. The methodology behind this idea is simple -- if you have a fire in your home, the fire department will be able to respond to it quickly and control it before it spreads and destroys your entire home. Likewise, you might also see a reduction in your home insurance premium if your new home is situated close to a fire hydrant. The specific distance regulations vary according to each insurance company, so contact your agent and find out how you might be able to save money in this regard.
Near A Body Of Water
A home facing a lake or river might offer tranquility, but you can also expect to pay more for your home insurance as you'll need to ensure you have adequate protection against floods. If you're looking at multiple homes, keep in mind that those closest to a major body of water will raise your insurance premium because of the increased risk of a flood. You can often get a break in your insurance rate by moving into a home that isn't near any water source. Talk to your agent to determine exactly how far away you should be to benefit financially.
Moving to an area with a higher property crime rate than your current neighborhood can cause your home insurance premium to rise, given that you're theoretically more at risk of someone breaking into your home. Before you make a decision on a prospective home, look for a breakdown of the city's crime statistics online -- often in a map format -- or contact the police department's non-emergency number to obtain this information. If you can find a home in a low-crime area, you'll likely see this fact reflected on your insurance statement.