People who smoke generally pay significantly higher rates for health insurance, but did you know that smokers also pay more for their homeowners insurance policies? Smoking is viewed as a risk, and this is why agents ask people if there are any smokers in the home when offering quotes for insurance policies. Here are several things you should know about smoking and the effects it has on home insurance rates.
Rates are higher because risks are higher
People who smoke pay higher rates for their home insurance because there are more risks involved for the insurance company. When people smoke in their homes, there is a greater chance for fires to occur. Additionally, statistics show that smokers tend to be riskier in nature compared to non-smokers.
You should also think about the things a smoker would have in his or her house, such as matches and lighters. If these get in the hands of a child, the child could inadvertently catch the house on fire. All in all, people who smoke are of a greater risk to insurance companies, and the result is that they will pay more for their insurance.
If you smoke, you cannot lie about this to the insurance company just to save money. If you told them you did not smoke but ended up with a fire in your home due to smoking, there is a chance the insurance company might not pay the claim. You should always be honest with your insurance agent about your house and habits. If you want to know how much you could save by stopping this habit, you could always ask your insurance company for a quote.
How quitting smoking could help you save a lot of money
If you like saving money, cutting smoking out of your life could help you with this. Not only would this place you in the non-smoking category for your insurance premiums, but you would also save money by not buying cigarettes. You would also probably save money on your health insurance costs and medical expenses, and you might save money in a lot of other ways too.
If you currently smoke, you are probably paying a higher rate for your homeowners insurance, but you can call around and get quotes from other companies. If you have not done this for several years, you may want to contact a company for a free quote for homeowners insurance on your house.
For more information on getting insurance, contact an agency like Bear River Insurance.
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