Factors that Affect
Your Homeowner/ Dwelling Premium

There are a number of criteria used by the company to establish your premium. Some of these are:

The age and condition of your home. Older homes and homes in poor condition generally are more expensive to insure. Companies may refuse to insure homes in poor condition.
Replacement cost. Since your policy will pay to rebuild your home if it is destroyed by a covered loss, premiums are more expensive for homes with a high replacement cost.
The construction materials used in your home. Masonry homes are less expensive to insure than wood frame homes due to lower fire risk.
Where you live. Premiums will likely be higher for homes in areas with a high frequency of storms, such as hurricanes or hailstorms, or with a high incidence of criminal activity.
Availability of local fire protection. Homes with access to good fire protection services get better rates. If you live in an area with limited fire protection, your rates will be higher.
Claims history. Companies will charge more if you have a claims history. For less expensive losses, it may be cheaper in the long run to pay for repairs yourself rather than file a claim. This is especially true for repairs that are not much more than the amount of your deductible.
Your credit score. Companies may consider your credit score when deciding whether to sell you a policy and what to charge you.

Discounts

Discounts can help you save money on your insurance. Companies may offer premium discounts if you take steps to reduce the chances of a loss. Each company sets the amount of the discounts if offers to its policyholders. Some of the more common discounts are listed below:

Age of house

Good condition of the home (companies set own standards)

Good claims experience for three consecutive years

Burglar, fire, and smoke alarm systems

Factors that Affect your Automobile, Motorcycle and Boat Premiums

Driving Experience. Three years or more offers best rate.

Where you live. Premiums will likely be higher for vehicles or boats garaged or stored in high crime or storm areas.

Type of Vehicle you drive. Some vehicles are more expensive to repair as well as statistically more likely to be involved in an accident. These vehicles cost more to insure.

Driving Record. Most Companies will look back three years for tickets and accidents to determine the likelihood of a future loss.

Credit History. Companies may obtain a credit score to determine risk and offer better rates to drivers with high credit scores.

Discounts

Discounts can help you save money on your insurance. Auto Insurance Companies may offer premium discounts for safety equipment like airbags and anti-lock brakes as well as offering discounts to homeowners and people who maintain coverage without a lapse. Each company sets the amount of the discounts if offers to its policyholders. Some of the more common discounts are listed below:

Homeowner

Prior coverage without a lapse

Company discount for loan, lease or credit card

Safety Equipment

Good Credit Score


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Carr Insurance and Realty Inc. 115 North Howe Street • Southport, NC 28461 (910) 457-6769 • FAX: (910) 457-9419
Personal Lines Specializing in property located in Brunswick, New Hanover and Columbus County, Carr Insurance Agency offers clients a wide variety of insurance products to meet special needs of coastal property owners where weather related property damage ranks among the highest risk of loss. Flood damage is not readily covered in Homeowner’s and Dwelling Fire policies and requires a separate policy through the National Flood Insurance Program. We are committed to the client and pride ourselves in obtaining new products to fulfill our customer’s needs. It is our goal to provide insurance expertise and high quality service to our community. Don’t forget, hurricane season runs June 1 through November 30 each year. Did you know Golf Carts must have a separate liability policy when used off the Golf Course or on public roads? We can help! GMAC Insurance offers a specialized policy just for this type of exposure.

Coverage Available Homeowner Windstorm & Hail Flood Automobile Excess Flood Dwelling Fire Watercraft Motorcycle Golf Cart Inland Marine
	Factors that Affect Your Homeowner/ Dwelling Premium There are a number of criteria used by the company to establish your premium. Some of these are: The age and condition of your home. Older homes and homes in poor condition generally are more expensive to insure. Companies may refuse to insure homes in poor condition. Replacement cost. Since your policy will pay to rebuild your home if it is destroyed by a covered loss, premiums are more expensive for homes with a high replacement cost. The construction materials used in your home. Masonry homes are less expensive to insure than wood frame homes due to lower fire risk. Where you live. Premiums will likely be higher for homes in areas with a high frequency of storms, such as hurricanes or hailstorms, or with a high incidence of criminal activity. Availability of local fire protection. Homes with access to good fire protection services get better rates. If you live in an area with limited fire protection, your rates will be higher. Claims history. Companies will charge more if you have a claims history. For less expensive losses, it may be cheaper in the long run to pay for repairs yourself rather than file a claim. This is especially true for repairs that are not much more than the amount of your deductible. Your credit score. Companies may consider your credit score when deciding whether to sell you a policy and what to charge you. Discounts Discounts can help you save money on your insurance. Companies may offer premium discounts if you take steps to reduce the chances of a loss. Each company sets the amount of the discounts if offers to its policyholders. Some of the more common discounts are listed below: Age of house Good condition of the home (companies set own standards) Good claims experience for three consecutive years Burglar, fire, and smoke alarm systems Factors that Affect your Automobile, Motorcycle and Boat Premiums Driving Experience. Three years or more offers best rate. Where you live. Premiums will likely be higher for vehicles or boats garaged or stored in high crime or storm areas. Type of Vehicle you drive. Some vehicles are more expensive to repair as well as statistically more likely to be involved in an accident. These vehicles cost more to insure. Driving Record. Most Companies will look back three years for tickets and accidents to determine the likelihood of a future loss. Credit History. Companies may obtain a credit score to determine risk and offer better rates to drivers with high credit scores. Discounts Discounts can help you save money on your insurance. Auto Insurance Companies may offer premium discounts for safety equipment like airbags and anti-lock brakes as well as offering discounts to homeowners and people who maintain coverage without a lapse. Each company sets the amount of the discounts if offers to its policyholders. Some of the more common discounts are listed below: Homeowner Prior coverage without a lapse Company discount for loan, lease or credit card Safety Equipment Good Credit Score
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