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Adding These 5 Home Features Increases Your Insurance Premiums


With some of the extra features we add to the house, our home insurance premiums may rise. The top 5 features that can raise your insurance premium are listed below.

6 features that increase home insurance premium

Source: Pexels

It takes up a lifetime and hard work to erect your dream house. 

Once you own a house, then comes its safety. Insurance protects your home from untoward events.

Nathen and Ellie have been best friends for a long time, and as all best friends do things together, they too invested in their dream houses.

Both got their houses insured from any risks and got a premium under their budget each month.

Nathen owned a lavish house!

He left no stone unturned to add every luxury to his house- a big, heated swimming pool, a trampoline for his kids to have fun, and even a high-end open drinks bar!

Ellie kept things modest about her house. Thanks to the knowledge she gathered on insurance.

Nathen would often make fun of his friend for his miserly nature, but little he knew about his friends’ long-term planning.

In the beginning, everything seemed fine, but a letter from Nathen’s bank upset his budget as they slammed him with a double insurance premium notice!

Adding high-end luxuries led to a high insurance premium!

If you are planning to add these features to your home, beware. They might add to your insurance expenses too!

Here is our list of features in your home that can hike your insurance premium.

1. Swimming pools & hot tubs

The first on our list is swimming pools and heated tubs. Both are luxurious amenities and add more to your premiums as the insurer considers it a risk. If you want to dodge high premiums like Ellie, count these luxuries out.

2. A trampoline

An outdoor trampoline for kids is fun but also risky. Insurers may charge very high because of trampolines on your premises. Adding such luxurious items increases your premiums.

Home Features that increase home insurance premium
Source: Freepik

3. A garden

A garden can bring you closer to nature but at a cost. It can add to your premium. Covering a garden adds more to your insurance policy premium, in the end making your expenses rise beyond budget.

4. Basements

Next on the list are basements. Ready basements add more to your space in the house and the costs of coverage. Basements are prone to many risks and covering these risks costs more on your premium amounts. 

5. A fireplace setup

Last on our list is a warm fireplace. Fireplaces burning with wood are very comforting, but also perilous. An insurer can charge a higher premium because of the risk to the house. Adding a wooden fireplace is costlier than a home without one.

Insuring your house comes at a cost. The premiums depend majorly on the features you add to your home.

Ellie knew about it, and now you know which features can increase your insurance premiums for your house.

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