Your home insurance premium is based on several variables that tell insurers about your risk. For example, your location is a significant factor in your rates – some regions, like California, may be more prone to wildfires. In contrast, coastal homes in Florida face hurricane risk. Your neighborhood even says something about your likelihood of experiencing a claim: gated communities, for example, maybe less prone to property theft than unsecured neighborhoods. Factors like that impact home insurance costs include; Home traits, which is a significant factor in how much the coverage costs – and the types of coverage needed. For instance, a premium coverage may be impacted by the home's construction, type of roof, square footage, age, value, and other structures on the property (fence, garage, etc.) All of these factors determine how much it would cost to rebuild your home if disaster strikes.