Buying a home is expensive. Therefore, it only makes sense to protect your purchase by obtaining a homeowner's insurance policy. While the size of your home is one of the biggest factors affecting the cost to do so, three additional factors often create a larger impact on the price you pay. Here is a look at three of the aspects that have the potential to cause your insurance premium to skyrocket.

Risk of a Natural Disaster in Your Area

Unfortunately, living in an area where natural disasters occur regularly leads to expensive premiums for homeowner's insurance. The risk of stormy weather typically increases how much you need to pay for your insurance because the likelihood of home damage is higher in your area of the country than in other locations. Hail, high winds, flooding, mudslides, lightning, wildfires, hurricanes, and earthquakes are more likely to cause damage to your home and property than calmer forms of weather. Even the likelihood of extreme temperatures can influence premiums on your insurance.

Cost of Construction in Your Area

If your home does become damaged, your homeowner's insurance is designed to cover the cost of rebuilding it. The type of materials influences the cost to rebuild your home. Since construction materials vary in price from one area of the country to another, your location is also going to affect your insurance premium. The age of your home might also create an impact on the price you pay to cover your home, particularly if it has been listed as a historic property.

How Close Your Home is to Help

Yes, it is true that the speed with which help can get to you is going to influence how expensive your homeowner's insurance is going to be. Your proximity to a fire hydrant as well as to a fire station determines the category in which your home is placed for pricing purposes.

People rarely pick their home based on how much their homeowner's insurance is going to cost them. Nonetheless, it is nice to have an idea of the factors that are going to influence how much you are going to owe. In general, the location of your home influences the cost to purchase this type of insurance because it also determines the type of natural disasters you might experience, the cost to rebuild your home, and how quickly help can arrive to minimize the damage.