Insurance rates—how are they even calculated? It can be complicated, but it all comes down to an algorithm that takes many variables into account. If keeping your rates as low possible is your number one concern, you need to know about these five factors that can affect your bottom line.
1. The age and condition of your house.
This is one of the most obvious factors and also one of the biggest. The age of your house and the wiring, pipes, roof, lumber, square footage, and even how many corners it has all play a role in the price of your insurance.
It comes down to the risk associated with the house a…
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