Just as a poor credit score results in a higher i

Just as a poor credit score results in a higher interest rate on loans, it can also influence your home insurance premiums. Many states let insurers use your credit score when determining a premium. That credit score is a number that reflects your bill payment history, current amount of debt, and other measures of financial responsibility. It’s a quick way for a bank to determine how risky an investment you are.

The insurance industry is also a financial one. If you appear to be a risky customer with a history of missing payments, you could see that reflected in your premiums. The easiest way to avoid that is by taking the necessary steps to raise your credit rating: Big Boss votepay your bills on time every time, keep credit card balances low and eliminate debt.

your home has a swimming pool, aggressive dog, trampoline or other characteristic deemed risky, you’ll likely pay a higher premium.

If your home has a swimming pool, aggressive dog, trampoline or other characteristic deemed risky, you’ll likely pay a higher premium.

Because of the drowning risks both to your family and anyone visiting your property, a pool will significantly increase your home insurance premium. Securing your pool with its own fence, installing self-locking gates and having safety equipment readily accessible may be enough to lower your risk in the eyes of an insurance company.

However, the best way to avoid the higher premiums is avoid installing a pool at all. The money saved on the insurance may even be enough for a gym or private pool membership, a place where someone else assumes all of the financial risk.

Along with pools, trampolines make up what insurance companies refer to as “attractive nuisances.” They’re fun, but the risks involved make them a headache to insure. You can reduce your personal injury risk by installing a net around your trampoline, but it won’t be enough to lower your premium. The easiest way to do that is to not get one in the first place or invest in safer recreational yard equipment instead.

Even if you did your research when home shopping

While the average annual home insurance premium nationwide was $1,173 in the III’s most recent study, that ranged dramatically from place to place — from a low of $643 a year in Oregon to a high of $1,993 in Florida. If you live in an area prone to natural disasters, with a relatively high crime rate or located far from emergency services, you can expect to pay even more for your policy.

Even if you did your research when home shopping and chose a neighborhood with low or non-existent crime rates, you can never prevent all crime. Your home is stationary, but criminals aren’t. However, simple steps like adding an alarm system or deadbolts will not only make your home safer, it may also make it cheaper to insure.

You can control your personal claim history to some extent, but there’s less you can do about your location claim history. As seen on our interactive map, insurers charge a higher rate in states that are regularly victims of weather disasters. The same is also true of areas frequented by burglars.he same is also true of areas frequented by burglars.

Homeowners Insurance Rates by State

Homeowners Insurance Rates by State

To be fully covered against disaster, you’ll need plenty of added endorsements, increased coverage limits and potentially an extra flood insurance policy. These endorsements could significantly increase your annual premiums above the original “sticker price.”

While it may be tempting to cut corners to save some of those costs at the onset, the financial ramifications of not having adequate coverage when you need it could be severe. The trick of shopping for home insurance becomes finding the best coverage for your needs at the best price. You don’t want to overpay, but you also want to be protected, which might mean preparing to pay more than initially planned.

To help you plan your finances accordingly, we’ve created the following interactive map to use as a reference tool when doing your research. With it, you can view the average monthly and annual home insurance rates for each state, and also how they compare to the national average. For the most current rates in your area, check with your insurance agency locally or online.

Amica offers a quick and easy claims handling process

Amica offers a quick and easy claims handling process, and it enables customers to file a claim with a live agent, on the mobile app and through the online portal. Because Amica also has highly rated customer service, you can easily contact your agent, be treated fairly and get the money you need to make repairs quickly. Ranking exceptionally well in separate studies conducted by two of the most reputable companies is a good indicator that Amica is doing something right with its claims handling process.