If you’re in the market to buy a new home, one of the most crucial factors to account for in your budget is home insurance. Adequate coverage is essential for protecting your investment and belongings, and you’ll be paying for your policy as long as you own the property. As such, you should learn how insurance companies calculate rates and use this knowledge while house hunting to avoid ending up with an unmanageable premium. Here are some common factors that determine coverage costs.

What Affects the Price of Home Insurance?

1. Age & Condition of the Roof

Homes with an older roof are more susceptible to damage, which typically means insurers will charge more for coverage. Newer roofs can usually stand up better against the elements, reducing the risk that you’ll need to file a claim for a replacement. It’s essential to make sure you get a thorough report on the condition of a home’s roof before you close the deal.

2. Renovations

Minor repairs won’t have much of an impact on your home insurance, but if you’re looking at a home that requires major renovations and upgrades, this will likely result in a higher premium. Any work you do that increases the value of the property will make it more expensive to insure. On the other hand, insurers often offer discounts for updating the HVAC, plumbing, or electrical systems.

3. Neighborhood Crime Rate

home-insurance-Dahlonega-Gainesville-GALiving in a neighborhood with high crime rates will make you more of a risk to insurance providers, as it raises the possibility of experiencing theft or vandalism. Before choosing a home, research police reports and crime statistics for the area.

4. Swimming Pool or Hot Tub

Having a swimming pool or hot tub can provide hours of fun and relaxation, but it also increases the chances of someone getting hurt on your property. In turn, you would need more liability coverage, causing your policy rates to go up. If you’re looking to minimize your costs, you’ll want to reconsider purchasing a home with these features.


Although they may consider similar variables when setting premiums, home insurance companies evaluate risks differently, so it’s a good idea to compare quotes from multiple providers. As an independent agency that represents a network of reputable carriers, Stringer Insurance Agency can help you easily explore different policies and prices to find the lowest rates available. They’ve been offering Georgia residents high-quality and affordable coverage solutions since 1931. Call the Dahlonega office at (706) 864-3515 or the Gainesville location at (770) 531-9986 to set up an appointment. You can also visit them online to learn more about their products.