No one wants to see any of their insurance rates go up, especially their home insurance. After all, you need this coverage to protect your property. So, you should be able to afford it.

Home insurance premium increases can happen for countless reasons. Sometimes, they occur through no fault of your own. In others, however, you have control over the situation that might raise your premiums. Let’s take a closer look at common causes of rate hikes and what you can do about them.

Risk 1: Your House is not Structurally Secure

As a home ages, safety risks might begin to beckon. Older wiring, unsafe appliances or other potential hazards might put you at risk of a fire or other issue that, while not apparent, might still lurk below the surface. These safety risks might cause your rates to increase, which is why you should always perform regular upkeep and maintenance tasks.

Risk 2: You Make Risky Additions to the Home

If you make changes or improvements to your home, then you might face safety risks even by trying to make your home better. Adding a fireplace, swimming pool, tree house or even a deck to the home might create additional safety risks. For example, the fireplace might become a fire risk. Swimming pools could cause injuries. Therefore, your home insurance rates might increase.

Risk 3: Your Neighborhood Might Become Unsafe

Most property owners are concerned about safety when choosing where to live. For example, burglaries might increase in your neighborhood. Risks of bad weather, floods or other disasters might also increase, even if they don’t directly impact your home. The fact that there is a higher likelihood of them happening could cause your home insurance rates to increase. However, by making your home more secure against weather, theft and related hazards, you can still minimize these risks.

Risk 4: You Bought More Expensive Possessions

As you accumulate more possessions, particularly possessions of value, you will likely need to buy more contents insurance. As a result, you’ll probably see your home insurance rates increase. Not only is this added coverage, but it is also added risk to the insurer. If an expensive item is damaged or destroyed, there is a change your home insurer might have to pay more.

Additionally, other factors might influence your premiums, such as inflation, state insurance regulations and adjustments to insurance risk pool might drive up your costs. Furthermore, if you make a high number of claims on your policy, then you might see increased rates, too. Still, your home insurer will work with you to make sure you maintain as affordable a premium as possible under the circumstances.