In Kalamazoo, MI, the average homeowners insurance is $731 per annum. Vhome’s extended analysis reveals that homeowners in Kalamazoo can save as much as $292 by choosing the cheapest home insurance company.
The quote provided to Kalamazoo homeowners varies between one home insurance company to another. Home insurance companies consider different features before deciding on the quote. For example, State Farm quoted an insurance rate of $372 for a Kalamazoo home built in 1984, on a policy coverage of $100,000 to $1,25,000, for a deductible rate of $1,000 to $2,500.
Home insurance companies calculate home insurance rates based on the lifestyle choices of homeowners. Kalamazoo homeowners who own a swimming pool incur an additional $88 in home insurance costs. Households with pets also attract additional insurance rates. Kalamazoo homeowners are recommended to choose insurance companies that charge less for their lifestyle choices.
Home insurance companies tend to provide discounts to homes that are less prone to damage and burglaries. Newly constructed Kalamazoo homes get discounts of up to $183 on homeowners insurance. Homes equipped with safety features also get substantial discounts. Homes can avail discounts of up to $88 based on their construction materials.
Deductible vs. Insurance Rates
The deductible amount homeowners opt to pay on their insurance policy can have a substantial influence on the cost of insurance. Home insurance companies offer different deductibles from which homeowners can choose. According to a study done by Vhome, Kalamazoo homeowners can save $600 on a lock-in period of 8 years, by opting for a high deductible of $2,600 in place of $1,600.
Post-Claim Insurance Rates
Home insurance companies tend to increase or decrease homeowners insurance based on claims history. Homeowners who have a claim-free history can avail discounts from home insurance companies. On the other hand, home insurance rates for Kalamazoo homes increase by up to 44% based on the type and number of claims. Kalamazoo homeowners should be wary of the potential increase in post-claim insurance rates before choosing a home insurance company.