🛠 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.
📜 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
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