Ignite FB Tracking PixelHomeowners insurance: How much it will cost & why - Rebecca Bass
SeaBass Properties
Rebecca Bass, SeaBass PropertiesPhone: (843) 263-3772
Email: [email protected]

Homeowners insurance: How much it will cost & why

by Rebecca Bass 12/16/2024

If you’re a first-time homebuyer working on a budget for your future plans, you might be wondering about homeowners insurance - how much will it cost, anyway? Unfortunately, the answer can get complicated, as it depends on several factors.

To help you budget for your first home, here is a quick guide to what goes in to determining the cost of your homeowners insurance:

Your home’s location

Geographic location can have a major impact on your insurance coverage limits and premiums. This is because dwelling coverage limits are based on labor and replacement costs, which both vary significantly in different areas.

The hazard portion of your homeowners insurance policy can differ based on location, too. Hazard coverage protects you in case your home is damaged by fire, wind, falling objects and other events included on the list of “covered perils.”

Because natural disasters and weather-related hazards vary by region, so does the level of risk to the insurance company.

Some hazards, like tornadoes and earthquakes, require an additional insurance policy to cover. Additional insurance coverage will protect you from a wider variety of peril, but may cost more.

The overall value of your home and belongings

Homeowners insurance policies also include a personal property coverage component that includes your personal belongings separate from your home. Clothes, electronics, appliances and furniture are examples of property included in this coverage.

Consider the overall value of your personal property when deciding how much homeowners insurance coverage you need, as it will also affect how much you pay.

In the event your personal property is damaged or stolen, this part of your homeowners insurance can help you pay to repair or replace them.

Insurance can be complicated, and homeowners insurance policies are no exception. Until you get a quote from an insurance company, it may be difficult to budget for the expense. However, if you keep these variables in mind, you will have a greater understanding of what goes into your homeowners insurance policy cost.

About the Author
Author

Rebecca Bass

EXPERIENCE MATTERS

Accredited Buyer's Representative (ABR ®)

Seller Representative Specialist (SRS ®)

Pricing Strategy Advisor (PSA ®)

Rebecca W. Bass has worn every hat around the real estate closing table in the course of her career. She is an attorney, has been a mortgage banker and a real estate investor, and is the Founder and Broker-in-Charge of SeaBass Properties. She is licensed to sell real estate in South Carolina and Georgia. Rebecca had an exciting career as an international business executive for companies such as GE and Motorola. She applies her vast experience as a negotiator for the benefit of her real estate clients.

Rebecca and her husband have relocated about 15 times in the course of their marriage, so she knows very well the stress involved in finding the right home, negotiating the purchase, and accomplishing the move. They have lived in Beaufort County for over 20 years, and Rebecca is well-versed in the Lowcountry lifestyle and all it has to offer.

Rebecca has earned the impressive designations of Accredited Buyer's Representative (ABR ®), Seller Representative Specialist (SRS ®) and Pricing Strategy Advisor (PSA ®) from the National Association of Realtors. 

Her experience as an attorney, mortgage banker, real estate investor and broker-in-charge will ensure that your real estate purchase or listing for sale is accomplished with the utmost integrity and professionalism.