If you own a home in Portsmouth, Virginia, you probably already know that you need homeowners insurance. While the average cost of homeowners insurance in Virginia is around $662 a year (less than the national average of $800), there are many factors that go into determining a city's insurance costs; as a result, your insurance may end up being higher than the state's average.
Factors Determining Portsmouth Insurance Quotes
When shopping for Portsmouth insurance, it's helpful to know what is taken into consideration when determining the cost of your homeowners' insurance:
- Geographical location. An area off the coast, like Florida, or one that is prone to tornadoes, like Texas, will generally have higher rates. States that are more inland or do not experience many natural disasters will have lower rates.
- Proximity to rescue services. If you live far from a police or fire station, the response time to your home in the event of a burglary or fire will be longer. As a result, your insurance rates will be higher.
- Crime. Cities with a higher than average crime rate, like Portsmouth, can raise your insurance rates as well.
- Age/construction of home. If you live in an older home, insurance companies often assume you have older wiring and plumbing, so your costs increase. The construction of your home also has an effect; a house made of brick or stone is sturdier than one of wood and will be less to insure.
- Your claim history. If you have a history of filing claims, your insurance will go up. If you file too many claims or ones that are costly, your insurance may drop you altogether.
- Your credit score. More and more insurance companies are taking credit into account when determining premiums. If you have a high credit score, your Portsmouth insurance quotes will be lower.
Saving on Your Portsmouth Insurance
If your Portsmouth insurance quotes are higher than you anticipated, don't worry--there are many ways you can cut costs on your homeowners insurance, sometimes by hundreds of dollars:
- Install security features. This is particularly true in areas with high crime. A burglar alarm, deadbolt locks, motion lights, and other security devices can lower your insurance by up to 20%.
- Increase your fire protection. Smoke alarms, fire extinguishers in your home, or sprinkler systems will also lower your insurance rates.
- Ask about discounts. There are numerous discounts available to homeowners, from military discounts to multiple policy discounts to discounts for updates to your home, so it pays to ask what discounts your insurance company offers.
- Compare quotes. Shopping around for multiple quotes and comparing them will help you find the lowest price, as each company will differ in their costs.
Finding Portsmouth Insurance Quotes
If you are shopping for Portsmouth insurance quotes, netquote.com is an excellent source for information on all types of insurance. In addition, you can find multiple insurance quotes quickly and easily at netquote.com.