What do your choices cost?

Premiums are affected by a variety of factors, and the choices you make have a direct impact on the amount you'll pay.

• It starts with where you decide to live. In the country or in the city? A business, residential or historic district? An old or new neighborhood? A single-family home, a condo, or an apartment? New construction or not? Do you heat with oil, electricity, or wood? In other words, the physical features of your house and your neighborhood have a definite impact on your premium.
• Of course your insurer will take into account the value of your home. But value will be based on the cost of rebuilding in the event of loss rather than on its market value, the price you paid, or the municipal assessment.
• What you put in your policy influences you premium, too. The scope of your protection, the value of your insurable property, additional coverage you require-for a new piece of art, for example-it all adds up.
• If you own especially valuable collections or possessions, you'll require additional coverage that increases your premium.
• The type and effectiveness of your local fire department are also considered in setting your premium.
• The minimum deductible for home & property policies is usually around $300. If you can afford it, choose a $500 deductible. You'll be amazed how much lower your premium will be.
• Did you know that installing an alarm system and smoke detectors linked to a monitoring center can get you a premium discount?
• Your claims history makes a difference, too. If you've made a number of claims in the past, let's face it, you're a slightly higher risk for your insurer-and that risk has a price!