Homeowners' insurance premiums are determined by

Question

Quizplus · Accepted Answer

Homeowners' insurance premiums are determined by all of these factors, including the policy limits, perils covered, and deductibles chosen. Policy limits refer to the maximum amount the insurance company will pay out in the event of a claim. Perils covered refer to the specific risks or types of damage the policy protects against. Deductibles are the portion of a claim that the policyholder is responsible for paying out of pocket. All three of these factors impact the cost of the insurance premium.

Homeowners' Insurance Premiums Are Determined by