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3 Reasons Why Location Influences Home Insurance Rates

  • May 21, 2020

Understand How Your Location Impacts Your Insurance Premium


The price you pay for homeowners insurance in Thousand Oaks, CA is made up of several different factors. From the coverage you select to your credit history, no two people will receive the same premium for their properties. When determining a premium, your insurer will look at the location of your property as this plays a large role in how much you end up paying for coverage. Here’s why.

  • Flooding

Homes located near the coast or coastline are generally more expensive to insure than those that are inland. In fact, living in a home near any body of water  – such as Westlake lake – could affect home insurance rates because of the risk of flooding. Flood damage is not typically covered by standard home insurance policies. You may want to purchase separate flood insurance even if your home isn’t considered at high risk for flooding.

  • Crime

Quite simply, if your home is located in an area with high crime rates, you will pay more for insurance because there is a higher chance of you filing a theft or vandalism claim. Crime rates are rarely uniform from one part of a city or town to another, and because elements of your homeowners policy protect you against theft, the greater the risk, the higher the premium. You can take proactive steps whenever possible in order to reduce the risks such as adding a burglar alarm system and motion-sensor floodlights.

  • Fire

Being in close proximity to a fire station could mean that you spend less on home insurance premiums. This can also be broken down into fire stations that are operated by a professional fire department and stations that are served by the volunteer fire department. One fire department has an average response time of fewer than 5 minutes, and the other has an average response time of 15 minutes. If there is a higher risk of your home being damaged in a fire while waiting for a fire engine, then you may be paying more for home insurance.


Are you ready to find the right homeowners insurance? Talk to one of our friendly and experienced staff members at Falsken & Associates Insurance Agency serving Thousand Oaks, Westlake Village, and neighboring cities in California.