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But its not just national weather events that may cause an increase in home insurance rates.
A variety of factors affect how much you pay to insure your property.
Insurance companies price their policies based on predictive analytics on the likelihood of certain events happening, he explained.
Couple that with the rising cost of replacement, and all costs need to go up.
But its not enough to equip your home with the latest technology to prevent problems.
The findings might help determine your premium rates.
Carriers will evaluate the overall look of the property and seek out telltale signs of disrepair.
For example, a cracked driveway is a predictor of afuture home claim, Lanham said.
The homeowner should take proactive steps to trim away the risk.
And its not just a lack of upkeep on your property that raises red flags.
If a guy doesnt take care of his finances, hes careless.
If hes careless that way, hes likely to be careless about the upkeep of his house.
Now, insurance could be the largest cost in there….
Some people are letting the cost of insurance dictate where they live.
Lanham said he has clients deciding where they will purchase their next property based on home insurance prices.
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