5 Surprising Factors That Can Affect Your Home Insurance Premium

Home Insurance is a tricky subject at the best of times. Most people will focus on ensuring they have the right amount of cover for their buildings and contents insurance, and then look to get the best price.

But it’s hard to get the best quote if you don’t know about some surprising factors that can drive up your premium. Let’s have a look at a few of these before your next renewal.

1. Owning an Exotic Pet

They may be part of the family, but any pet that falls under the headline of ‘exotic pet’ could affect your insurance premium.

If you have species such as snakes, spiders, and amphibians in your home, the liability aspect of your coverage may be affected in case the animal was to hurt or bite someone.

It could be that the coverage could even exclude liability for any damage caused by the pet altogether, so it’s always best to check before taking out a policy.

2. Your Dog’s Breed

Yep, it’s not just a pet that is exotic that can increase your premium. As with the liability portion of your premium above, insurers are wary of certain breeds of dog (think Pitbull, American Staffordshire Terrier, Rottweiler, and others) which they see as more likely to bite or cause harm to someone.

If your dog were to bite someone, that person could then sue you. Your insurance company will want to ensure they have taken adequate precautions before agreeing to provide cover.

This may include asking you to sign a liability waiver, meaning they won’t be liable in the event of a claim, or it could lead to a substantial hike in premium.

It’s always best to ask if your insurer is providing cover for your breed of dog when choosing a policy. These types of claims can be very expensive.

3. Trampolines

A source of fun and good clean exercise out in the garden, owning this piece of equipment could mean you have to pay more for your insurance policy.

We’ve all cringed when we see a kid (or sometimes an adult), try a dangerous flip on the trampoline. Thankfully most of the time no-one gets hurt, or at least no more than a few bruises.

But accidents do happen, and serious neck and back injuries have occurred when people have been trampolining.

The cost of medical care and damages from such an incident can be substantial.

4. Distance from the Nearest Fire Department

It’s easy to take it for granted that we have great emergency services. In the event of a fire, the fire department will come and put it out. Then your insurance company will look after getting you back up on your feet.

Well, yes that’s true. But if you live a long way from the nearest fire department, or even from another water source like a fire hydrant, then the damage is likely to be worse.

This leads to extra costs for the insurer and so they may increase your premium accordingly.

5. Owning Firearms

Having a firearm in the house can also increase the cost of your policy, although not for the reason you might expect.

Most insurers won’t ask if you own or keep a firearm, however, if you have an antique or collectible, then it could exceed the limit you have for your valuable items limit.

Your agent can make sure you’ve adequate coverage in place if you tell them before your next renewal.


These are a few factors to keep in mind for next time you’re taking out a policy. Talk to your agent and ask them to check that your coverage is complete.

If something goes wrong, you’ll be glad you did.

For more information contact Chaney-Buskirk Insurance at 304-738-9419 or 304-298-4849.  You may also visit chaneybuskirk.com.