Factors that Affect Home Insurance Premiums

Home insurance is a substantial investment that many people overlook. It not only protects homeowners but also secures all of your sweet homes.

It is one of the best non-life safety policies that you can get. It protects your home from financial loss or damage. You also get coverage for valuable items like appliances, furniture, and other household belongings. This home insurance in the Philippines will provide you with many benefits, including the peace of mind that comes with sleeping soundly. There’s nothing better than knowing that your home is protected.


Providers usually offer two types of home insurance to homeowners. These include standard and comprehensive home insurance. They differ in their price and the coverage they provide.

Standard home insurance is the cheapest option, but it only provides basic coverage for your home and valuable belongings against lightning or fire accidents.

Comprehensive home insurance, also known as the “complete policy,” is the other type. It has the same benefits as the standard but comes with higher perks. It protects your home and belongings against natural disasters like earthquakes, volcanic eruptions, floods, mudslides, and storms. Comprehensive home insurance also includes protection against unnatural disasters such as vehicle crashes and explosions.


The deductible in home emergency insurance is the amount that you pay out of pocket when filing a claim. A deductible is an amount you pay out of your pocket to file a claim. This means that premiums and policies will need more payments. A higher deductible means a higher out-of-pocket cost to file a claim and lower premium rates. However, the amount you can afford will affect your insurance deductible.

To learn more about the factors that affect home insurance premiums, you can read this infographic from iChoose PH.


John Peterson

Amanda Peterson: Amanda is an economist turned blogger who provides readers with an in-depth look at macroeconomic trends and their impact on businesses.