As you know, homeowners insurance is required in order to obtain a mortgage loan. There are a number of factors that can affect the cost of homeowners insurance. For instance, did you know that people with average credit are paying 29% more for homeowners insurance than those with excellent credit?

Maintaining your credit is one of the smartest things you can do as it affects so many important aspects of your life. While not all insurers use credit scores to determine insurance premiums there is a definite correlation between credit history and insurance risk.

Along with your credit history, the features of your home play a large roll in how your premium is calculated. Your homes physical features such as type of siding, homes age, roof, garage etc. will be evaluated. Even things like swimming pools and trampolines are risk factors that can raise your premiums. Your homes location can affect the cost of insurance if you’re in an area prone to extreme weather or even in an un-safe neighborhood prone to theft. Another thing that can cause higher premiums is your claims history.

A few things you can do to lower your premium is install protective devices such as alarm systems. Even having deadbolts on your doors can help lower the costs of insurance. Another discount you can get is for having smoke and carbon monoxide detectors in the home.