Before shopping for home insurance quotes tailored to one story houses, it's important for homeowners to understand how personal factors, property history and home construction affect insurance rates. Although one story houses are typically less expensive to rebuild than their split-level and multiple-floor counterparts, size, construction method, and building upgrades all factor into coverage limits, which consequently affect annual premiums.
One story houses are affected by many of the same factors as standard home insurance quotes for multi-level dwellings. If you have a poor credit score or a history that includes a disproportionate number of claims, insurers are legally allowed to charge higher home insurance rates within the limits of state laws. Although one story houses are typically smaller and less expensive to insure than homes with multiple levels, they are not immune to structural damage, system malfunctions or adverse weather.
If you're shopping for home insurance rates for one story houses, it pays to know your property's claims history. Before purchasing a single-level home, it's wise to request a copy of the home's Comprehensive Loss Underwriting Exchange (CLUE) report, which details all claims made in the past five years. In addition to helping you avoid inflated premiums, reviewing the CLUE report can help you identify a property with questionable integrity.
When calculating home insurance requirements, underwriters require a number of detailed specs to assess risk and estimate the cost of rebuilding the dwelling or replacing building components. Building size, age and construction type all affect the cost of rebuilding. Typically, insurers differentiate construction types between frame, masonry and aluminum siding. Upgraded features, such as granite countertops, luxury cabinetry, gourmet appliances and hardwood floors, will also increase the coverage needed to fully protect a one story home. Likewise, high-risk features, fireplaces, wood-burning stoves, and aging plumbing systems result in higher annual premiums due to the increased risk of claims. If you're planning to purchase a single-level home with a swimming pool, it's important to apply for a home insurance quote with a personal liability umbrella that will protect you in case anyone is injured on your property.
If you are purchasing a single story home or shopping for better homeowner's insurance rates, it pays to know how building specs affect annual premiums. Purchasing a home with copper or plastic plumbing and heating systems has significant cost advantages over insuring an older home with galvanized lead pipes that are prone to cracks. When applying for home insurance quotes for one story houses, it's important to provide accurate information and notify your provider if your home has security lights or any features that can qualify your property for special discounts.