Why You Should Check Home Insurance Rates Before Buying a Home

 Posted on May 30, 2025 in Real Estate Law

Perhaps you have a checklist of all the things you must consider before choosing your perfect home. These issues may include looking for problems with the home itself, such as termites, foundation cracks, or a leaky roof, or it could include location, proximity to a school, or other issues.  

You may know when purchasing residential real estate that you should request a property tax history for the property to get a better idea of what your property taxes will be. However, one thing that many people overlook is checking the cost of homeowners’ insurance.

One woman bought her dream house only to find that her home insurance would be extremely high because the home was in "Zone 10" for fire department coverage. Zone 10 is as bad as it gets – essentially "no man’s land." In this case, the closest fire department was a volunteer department with a dismal record for responding to fires, largely because all the volunteers had regular jobs, and the property was very rural.  

There are many other factors that can influence your homeowner’s insurance. It is better to find out whether there are issues that could result in unusually high monthly insurance payments before you purchase a home. Speaking with an experienced Stamford, CT real estate attorney before you purchase a home can help ensure there will be no unpleasant surprises after the sale is final.

What is Homeowner’s Insurance Based on?

Insurance companies look at the risks associated with each area, along with the individual applying for the coverage, when calculating home insurance premiums. Below are some of the factors used by insurers to determine the cost of homeowners’ insurance.

High Crime Areas

If your new home is located in an area that has frequent vandalism, theft, and break-ins, the homeowner’s insurance is likely to be higher than normal. Conversely, if the home is located in a neighborhood with a strong police presence and community safety programs, or if your home has a high-quality security system, your insurance will probably be lower.

Homes Close to the Water

If your new home is near a lake, river, or ocean, the insurance company will assume your risk of flooding is increased. In areas with regular flooding, regular home insurance may not cover flood damage, and you will have to purchase a supplemental policy.

Homes in Wildfire or Storm-Prone Areas

Like flooding, a home that is in an area with a history of wildfires or severe weather – like earthquakes, hurricanes, or tornadoes – will have higher insurance premiums and may require an additional policy to cover these dangers.

Distance from Fire Stations

How close your home is to a fire station or fire hydrant can affect your insurance premiums, along with whether the fire department has a good record of quick responses. Remote or rural areas usually cost more because the fire department is further away.

Additional Factors That Affect Homeowners’ Insurance Premiums

The age of your home can affect your insurance rates; if you live in an older home, the insurance company may assume it is not up to local building codes or current building standards. Your credit history is a rating factor, as statistically speaking, homeowners with poor credit histories are more likely to file claims. The deductible you choose will affect your monthly premiums.

The higher your deductible, the lower your monthly premiums, but the more you will pay out of pocket in the event you have to file a claim. The insurer will look at your history of filing claims under the assumption that if you have previously filed claims, you are more likely to do so in the future. Finally, if your home has a swimming pool, a trampoline, a hot tub, or a dog considered more likely to bite, your insurance premiums will be higher.   

Contact a Fairfield County, CT Real Estate Lawyer

If you are considering purchasing a home, an experienced Stamford, CT real estate attorney from Law Offices of Daniel P. Weiner can make a difference in how smoothly your transaction will go. To schedule your free consultation, call 203-348-5846 today.