How Much Do Residents Spend on Home Insurance?
The average premium for homeowner’s insurance in Sandy cost as low as $755 per year in 2018. Some homeowners paid up to $1,027 for their annual premiums.
An analysis of quotes from different insurance providers showed that the median rate in Sandy is cheaper than the state average, which costs around $908 per year. The study based its findings from a sample coverage for a 2,000-square-foot house built in 2000, with an attached garage and a value of $200,000.
How Sandy Compares with Other Major Cities
Sandy ranked as the fifth most affordable place for home insurance, the ten biggest cities in the state. The cheapest quote last year cost $755 for the study’s sample home, while the most expensive one amounted to $1,027. While even the lowest rates remain costly for some homeowners, you’ll find it more expensive to insure a house in Price where annual premiums cost almost $1,160.
If you’re planning to move into a different city, you might want to consider buying a property in West Valley City. The cheapest premium there only cost between $704 and $768. Kaysville isn’t far behind on the affordability scale. Homeowners in the city paid up to $775 for their insurance, although that’s just $20 less expensive than the lowest rate in Sandy.
Should You Get Insurance for Your Water Line?
A common question involves coverage for your pipes outside the house. However, it’s better to insure sewer lines because of their higher probability of breaking down. While your home insurance won’t likely cover broken water lines, these have a lower risk of failure that you might not need to replace one at all.
Even if you go ahead and buy a separate policy for peace of mind, the covered amount for water line insurance is often too small. You also don’t have a lot of options for choosing the plumber for repairs. If you don’t like to take any chances, an alternative for water line coverage involves an additional clause in your homeowner’s insurance. This will increase your premiums, but it’s better than having to review separate documents in case of emergencies.
Money-Saving Tips
A significant cost-saver for your premiums requires you to have a better insurance risk rating. Those who plan to remodel their houses should inquire with their insurance provider if specific projects could affect their premiums. Some insurers even include pets as a determining factor for a client’s premium.
If you’re okay with not keeping a Rottweiler, Doberman Pinscher or Pit Bull, you’ll have more options for your policy. Otherwise, you might have to settle with limited coverage. Always check the terms of your existing policy before getting a new pet, as some dog breeds like the previously mentioned ones can void your policy.
The actual rate of homeowner’s insurance in Sandy will vary based on several factors. These include the structural components of your property and technical aspects such as your creditworthiness and debt history. Find an insurance agency that can provide a comprehensive quote. You can further save money on your premiums by purchasing auto insurance from the same provider.
