Homeowners insurance is invaluable if an accident occurs. However, high rates can discourage you from investing in protection. Luckily, you can lower your rates and keep costs to a minimum without sacrificing coverage. Review the following factors that affect insurance premiums to ensure you make the most of your policy.

How Are Homeowners Premiums Determined?

1. Home Age & Materials

Older homes are often more susceptible to damage. They’ve likely endured more wear and aren’t equipped with stronger, modern materials. They’re a greater risk, so insurance companies will increase rates to compensate.

Premium materials, however, can also increase rates. Industry-leading slate roofing is durable but expensive to replace. It’s easier to replace vinyl siding rather than cedar shakes or vinyl flooring rather than marble. Agencies will account for these replacement costs with determining premiums.

Consider renovating an aging roof and ask your insurance agent about the preferred materials that can lower premiums. If you plan on building a home addition, consult with them to ensure you don’t increase your rates. 

2. Liabilities & Attractive Nuisances

homeowners insuranceIf there’s a chance that someone can get hurt on your property, rates will increase. Swimming pools, trampolines, and swingsets can drive up premiums. These features are known as attractive nuisances.

If a curious child is drawn to these features and use them — even without your permission — you could face a lawsuit if they get injured. Lower your rates by installing a fence around the yard, pool, and trampoline.

3. Security & Safety

The better defended your home, the lower your rates will be. Installing a security system or wood fence will deter break-ins. This reduces the likelihood that the agency has to cover a claim.

Upgrades don’t have to be expensive or complicated. Simply replacing your locks or installing a deadbolt could earn you a rate decrease. Trim tree branches that could fall on the roof and install carbon monoxide detectors by the furnace.


Residents of Kodiak, AK, trust Sweeney Insurance Agency with their coverage needs. These professionals have served the area for over 40 years, providing homeowners insurance at competitive prices. Their agents will help you find a policy that works for your unique situation. Explore their business, boat, and health insurance plans on their website, or call (907) 486-3101 to speak with an agent.