Insurance companies consider a variety of factors when calculating the premiums that homeowners have to pay for insuring their homes. The type of home, its age, city, location, size and safety features are all factored into the equation in rating a home insurance policy and calculating the monthly premiums on it. Weather is another major component as well.
Homes in states like Illinois, which have extreme weather conditions during the year, tend to attract higher insurance rates than homes in more temperate climates. Homes in Illinois are exposed to extreme cold, snow and ice during winter and strong gusty winds and tornadoes during the summer. Such weather can cause damage that often requires extensive and expensive repairs. Snow and ice can damage roofs and sides. Shingles often get blown off roofs as a result of high winds while the exterior of a building can get damage from hail and other debris. Insurance companies minimize their exposure to such expenses by charging higher insurance rates for homeowners in states like Illinois.
To learn more about how Illinois weather affects your homeowners insurance contact the insurance specialists at Reta Insurance Agency in Worth Illinois.