Which of the following is something that will not affect your homeowners insurance premium?
Expert-Verified Answer. The correct answer for this question above homeowners insurance premium would be option A. The one that is something that will not affect your homeowners insurance premium would be the distance of the home from school. In addition, the color of the home won't affect it as well.
Which of the following is something that will not affect your homeowners insurance premium? The distance of the home from a school.
Your age. Your age does not typically affect your property insurance premium. The other factors listed can have an impact on your premium. Location of the property can affect the risk of natural disasters or crime, which can influence the cost of insurance.
Final answer:
The distance of the home from a school will not affect your homeowners insurance.
Homeowners insurance factors like your location, credit-based insurance score and claim history may all impact your rate.
The factors that affect car insurance rates include your age, driving history and marital status and details about your vehicle, such as its model year. Discover if you are overpaying for car insurance below.
Your age, sex, smoking status and overall health come into play and have an impact on your premiums. While it's important that your premium fits within your budget, there are other things you should consider as well.
Homeowners insurance doesn't cover floods, earthquakes, typical wear and tear, and damage due to insufficient maintenance. You can usually add flood and earthquake coverage to your policy for an additional fee, but wear and tear and damage from a lack of maintenance are considered preventable.
Damage or destruction due to vandalism, fire and certain natural disasters are all usually covered. So is your liability if someone is injured on your property. Certain catastrophes, like flooding or earthquakes, are generally not covered by basic homeowners policies and require specialized insurance.
- Where you live.
- The price of your home and the cost to rebuild it.
- The amount of coverage.
- Your home's age and condition.
- Home security and safety features.
- Your credit history.
- Additional types of coverage.
- Your deductible.
Which of the following losses would not be covered by a homeowners policy?
Homeowners insurance also protects you against liability for accidents that injure other people or damage their property. The policy covers medical expenses for persons accidentally injured on your property. Most policies do not protect you against losses from floods, earthquakes, mudslides, mudflows or landslides.
Five factors can affect a plan's monthly premium: location, age, tobacco use, plan category, and whether the plan covers dependents. Notice: FYI Your health, medical history, or gender can't affect your premium.
Standard homeowners policies do not cover flooding, earthquakes or poor maintenance. Flood coverage is provided by the federal government's National Flood Insurance Program, although it is purchased from an insurance agent. Earthquake coverage is available either in the form of an endorsem*nt or as a separate policy.
- Age. Age is a very significant rating factor, especially for young drivers. ...
- Driving history. This rating factor is straightforward. ...
- Credit score. ...
- Years of driving experience. ...
- Location. ...
- Gender. ...
- Insurance history. ...
- Annual mileage.
-The greater the risk, the higher the premium. -Actuaries base life insurance premiums on three factors: mortality, interest, and expenses.
Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it's important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.
Expert-Verified Answer
The age and health of the owner is not a factor that an insurance company would consider before setting the cost of a homeowners insurance policy.
- Increase your deductible.
- Check for discounts you qualify for.
- Compare auto insurance quotes.
- Maintain a good driving record.
- Participate in a safe driving program.
- Take a defensive driving course.
- Explore payment options.
- Improve your credit score.
Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age, anti-theft features in your car and your driving record.
Insurance companies charge higher premiums to higher-risk individuals because there is a higher risk they may have to pay benefits on the policy.
What is premium insurance with an example?
What Is an Insurance Premium? An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance. Once earned, the premium is income for the insurance company.
Rumor: My homeowner's insurance includes flood insurance.
This is not true. Homeowner insurance policies do not normally cover flood damage. Flood insurance is typically a separate policy.
Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it's important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.
- Flooding. ...
- Earthquakes. ...
- Business equipment. ...
- Jewelry or artwork. ...
- Power outages. ...
- Nuclear hazard. ...
- War. ...
- Dog bites. Most homeowner insurance covers medical bills and legal fees caused by dog bites.
Lending of funds is not a function of insurance.
