There are many factors that contribute to insurance costs. Your home’s features do contribute to the perceived risk of your policy. It is important to be aware of that. Below are 4 home features that increase homeowners insurance rates in Massachusetts.
Pools are understandably risky. As a homeowner, you can be liable for injuries sustained by you or your guests while using that pool. Because of the dangers of drowning, insurance companies may view pools negatively and charge an increased rate for that added risk.
Trampolines are among the common home features that increase homeowners insurance rates in Massachusetts. You may not even think about or realize this when going to purchase one. Injuries from trampolines are very common. They are prone to failure and people can get easily injured while using them. Naturally, insurance companies know this and will charge more for homes that have trampolines.
It seems that dog attacks are on the rise,… at least the news attacks on them are. When your dog attacks someone on or near your property, the injured person(s) may file a claim against your homeowners insurance policy. Because certain dog breeds are prone to violent behavior, insurance companies believe that you are more likely to file a claim as a result. Therefore, your insurance premiums may increase when you own certain types of dogs.
Wood Burning Stoves
Wood burning stoves are considered a cost-efficient alternative to heating your home, but they are a fire hazard. This is especially true when they are left unattended. Thus, some insurance companies apply a surcharge for homes with wood burning stoves.
Summary of 4 Home Features That Increase Homeowners Insurance Rates in Massachusetts
Although there are many things that can increase insurance premiums, the above four are very specific items that your insurance company may ask about. These home features increase your likelihood for filing a claim and therefore makes your policy riskier to insure. It’s helpful to be aware of this before deciding to add any of them to your home. For additional information on these and other home features that increase homeowners insurance rates in Massachusetts, give your insurance company a call. Don’t forget that you can shop for rates in Massachusetts. So, in some cases, switching companies can save you money.