Are you preparing for an upcoming move? If you are buying a new home in a different city or a different state, you have a lot more to do than just pack your boxes and reserve a moving company. Another step in the preparation process is to price the cost of your homeowners’ insurance so that you can budget for premium changes.
All of the leading San Diego home insurance companies set their homeowner’s insurance rates based on the location of the property, the value of the property and several other factors like the distance to the nearest fire station. Read on, and learn about the factors that cause your premiums to change when you move to a new home.
If you are moving to a new city or out-of-state, you cannot simply change your address and expect your home insurance plan to transfer to your new property. You must have a new policy written by an insurer who is licensed to sell insurance in the state. Your new premiums for your new home will be based off of your zip code, which can either cause your payments to go up or go down depending on your prior zip code and other features of the property. Click here for a free, instant quote from American Tri-Star Insurance in San Diego.
In addition to location, other factors will play a role in how much you pay for coverage. Home insurance underwriters use a long list of different factors to calculate the final premium, and all of these factors involve risk. The cost to rebuild the home, the age of the home, whether or not the home has been updated and safety features can all affect your premiums. The distance to a fire hydrant, police state and fire station can also affect your premium.
There is no way to know exactly how your premiums will change when you move unless you take the time to receive a quote. Be sure to have information on your new property so you can determine the correct amount of coverage and budget for the rising or falling cost of insurance in San Diego.