🛠 How Is My Custom Home or Tenant Insurance Premium Calculated?

Your premium isn’t random — here’s what goes into it:

📜 Your insurance history:

Have you had past claims? Are you a first-time policyholder? Your history helps insurers assess risk and pricing.

🏠 Your home’s details:

Things like your building’s replacement cost, year built, and square footage all factor in.

🔥 Fire protection rating:

This is based on how close you are to a fire station or hydrant, which helps gauge emergency response times.

🔧 Upgrades & construction details:

Have you replaced the roof? Upgraded the plumbing, heating, or electrical? These kinds of updates can reduce risk — and sometimes your price.

🧾 Other rating factors:

Insurers may also look at construction materials, neighborhood risk levels, or even your postal code.

Updated on: 16/04/2025