Homeowners must have property insurance to protect their homes from damage, theft, or liability. Lenders will likely not even approve you for a mortgage if you don’t take out a policy. Homeowner’s insurance might seem like another pesky bill to have to pay, but many shoppers aren’t fully aware of certain factors that can cause these premiums to go up.

The following are some of the biggest factors that come into play to cause insurance premiums to rise.

1. Pets

Your furry friend may be bringing you and your family oodles of joy and company, but did you know certain pets can increase your homeowner’s insurance premiums? Any animals on the premises that are considered to be likely to cause some sort of harm to others or damage to the property can result in an uptick your insurance payments.

Dogs have long been liabilities, and are among the biggest threats, depending on the type. Such breeds include pitbulls, Rottweilers, and Huskys. In fact, about one-third of all homeowner’s insurance claims are due to dog bites. However, some insurance providers are open to offering discounts on policies if you send your dog to obedience school, or take the dog to a Canine Good Certificate program.

2. Location

Properties that are situated near coastlines or in hurricane-prone areas generally come with more expensive insurance premiums compared to those that are further away from such characteristics. The reasons are obvious: the chances of damage from flooding or windstorms are a lot higher for these homes in these areas. Not only are the premiums more expensive, homeowners with properties located in these types of areas may also have to take out additional policies for flooding or windstorm insurance.

3. Old Age

Even if your aging home was built using solid craftsmanship and materials, it’s getting old, and along with age comes a lot of wear and tear. Not only that, the building codes from back when your home was constructed likely don’t match up with today’s more stringent codes. As a result, insurance providers probably don’t see your home as sturdy as a brand new house in the neighborhood. In this case, you can expect your insurance premiums to be a little more expensive.

In addition, insurance providers will estimate the true cost of rebuilding a home if it is ever damaged and needs to be reconstructed. If your home is considered difficult to replace or repair, or is estimated to be more expensive to replace, insurance rates can be higher. Things such as plaster walls, intricate crown moldings, stained-glass windows, and other traits that are not likely seen in modern homes are usually more expensive to replace. 

4. Pools

A swimming pool in your backyard may increase the value of your home (depending on the neighborhood), but it can also cause your insurance premiums to spike. Characteristics like these warrant additional liability coverage in case someone gets hurt or even drowns as a result of this feature. If you have a variety of special traits, including a pool, hot tub, or trampoline, you might want to consider getting an ‘umbrella policy’ that will offer you protection if anyone is hurt as result of any one of these features and decides to sue.

5. Frequency of Claims

The more insurance claims you’ve made in the past, the more likely you’ll be to take out more additional claims in the future. That’s precisely how insurance companies look at their clients. Even if the claims you’ve made in the past had to do with previous homes you’ve lived in, they still count. The more claims you’ve got on the books, the higher you can expect your insurance premiums to be.

6. Neighborhood Crime Rates

The more prone your home is to damage, theft, or other situation, the more money insurance providers will likely collect from you. If your home is located in an area with a high crime rate, it’s considered very vulnerable to crime. Even if you or your home have never been the victims of a crime, you’ll still have to pay up as a result of other happenings in your neighborhood. The reason for this is because insurance providers decide on their rates based on collective risk; if the neighborhood you live in is considered high risk for crime, then more claims have likely been filed by others in the area, which will affect your rates.

The Bottom Line

Do yourself a favor and become educated on homeowner’s insurance, and the factors that can drive your rates up, as well as those that can bring them down. Insurance companies use plenty of factors to establish your home insurance rates. Make sure you shop around and get quotes from a few insurance companies so that you’re not paying any more than you need to.

Photo: meunierd / Shutterstock.com

LINCOLN SQUARE

This year marks the 10th Anniversary Tour of Midnight Circus’ partnership with the Welles Park Advisory Council to bring cutting edge, live circus performers to parks around the city to raise funds for local park improvements. The troupe of performers had been inspired to bring this style of performance to the U.S. after witnessing similar kinds of theatrics in parks and piazzas in Italy and France, and have been doing so since 2007. This weekend, 10/8 and 10/9, the Midnight Circus will perform at Hamlin Park (3035 N. Hoyne Ave.) at 2:00 p.m. and 5:00 p.m. both Saturday and Sunday. But we’re expecting an even bigger turn out, and possible sellout, for next weekend’s blowout performance which takes place where it all started 10 years ago at Welles Park (2333 W. Sunnyside Ave.). This will also be the final set of performances for the season from Friday 10/14 through Sunday 10/16. Friday’s show starts at 7:00 p.m. with Saturday and Sunday shows at 2:00 p.m. and 5:00 p.m. Get your tickets here before they sell out.

LAKEVIEW

There’s new burger joint to discover that prides itself on organic, homemade and fair trade ingredients. Bareburger is a franchise that began in Brooklyn, New York in 2009 and now has several locations across NY, NJ, CT, OH, Philadelphia, and now Chicago at 3357 N. Lincoln Ave. It opened on October 3rd and offers an extensive menu of appetizers, sides, vegetables, and alternatives to beef burgers. We don’t just mean veggie burgers (black bean, quinoa, sweet potato & rice) but also turkey, duck, bison, elk, and wild boar burgers! As if that weren’t enough to get your head swimming in choices, there’s also brisket, falafel, fried chicken, organic shakes, and so many vegetable options that this is bound to be a burger joint to satisfy vegetarians and omnivores alike.

PORTAGE PARK

Here’s a cool and useful idea making its way to Portage Park. The former Air-Mite Devices Inc. manufacturing plant at 4739 W. Montrose Ave. is working on converting into a do-it-yourself car repair shop by the founders of Gearhead Workspace. It will be a 10,000 square-foot space for members or hourly/daily renters to work on their vehicles instead of the hassle and danger of working on the street or in their own garages. There will be 12 lift bays for easily accessing the underside of your car with specialty tools available for rental use. A retail space will have standard parts available for purchase or to be ordered for your specific needs. The Gearhead support team will be on hand if you need some professional help and classes will be offered to pass along valuable knowledge. Early memberships and donations are being accepted to help the concept get off the ground. Dealing with Zoning Appeal issues have stalled the project as they try to include the rear surface lot at 4720 W. Pensacola as part of the automotive shop which is required to have a lot within 100ft of the main entrance. In the meantime, Gearhead Workspace hopes to sublet lift bay space from nearby auto shops to beta test the project. Alderman John Arena is on their side and hopefully this zoning difficulty will be resolved so we can see this great idea move forward.

LOOP

The final installment of Chicago Loop Alliance’s urban alleyway parties, known as Activate, is coming up next Thursday, 10/13, 5:00 p.m. at Sullivan Center Alley (16 E. Monroe St., between State St. and Wabash Ave.). The final party is the culmination of the Celebration of the Senses that Activate has been  exploring through the summer season. This 21+ event will revisit the best elements of the past 5 parties that showcased artists’ conceptualizations of touch, sound, smell, sight, and taste. There will also be a live animal exhibition from the Brookfield Zoo and more. Drinks will be available for cash purchase only and, as always, your first drink is free when you follow the link above to RSVP ahead of time.

NAPERVILLE

The Mayor’s Office of Naperville is looking for residents to fill vacant volunteer positions on their Sister Cities Commission board and the Advisory Commission on Disabilities. The Sister Cities Commission aims to “foster international understanding and friendship by forging personal links through city-to-city affiliations.” This 15-member board is looking for two new members with backgrounds in education, finances, or special events and must commit to 7:00 p.m. meetings on the second Wednesday of every month. The Advisory Commission on Disabilities “is an advisory commission to assist, inform and advise the administrative and elected officials of the City on all matters pertaining to discrimination against individuals with disabilities.” They are seeking three to four new members who can commit to attending quarterly 6:30 p.m. meetings, starting in 2017, on the first Wednesday of February, March, August and November. Interested individuals should email trotze@naperville.il.us to apply and visit www.naperville.il.us for more information.

CATHY MALLERS & DEAN’S TEAM CHICAGO

Keeping your home safe is a crucial component to being a homeowner. After all, we’ve all got locks on our doors and windows for a reason. Other homeowners have added other layers of protection, including installing security cameras or alarm systems. While these are very helpful, home security systems have evolved a great deal over the years thanks to the emergence of digital technology.

A number of key advancements have emerged and shaped the modern home security market, providing homeowners with much more convenient and efficient means of keeping their homes safe.

1. Remote Monitoring

Today, homeowners have the ability to keep tabs on their homes even when they are not there. Whether you’re at work, running errands, picking the kids up from school, or even away on vacation, you can still monitor your home remotely thanks to real-time videos and images of what’s happening at home. Innovative features of today’s remote monitoring systems now offer homeowners with the capability of arming and disarming home security systems, stream security camera feeds, and even send alerts of a fire, flood, or break-in.

2. Recognition Technology

The realm of biometrics is now playing a role in the world of home security. Now, you have the option to arm or disarm your home using a part of your body. With this sort of security system, homeowners are offered hands-free authentication using their fingerprints, faces, eyes, or voices.

Since no two individuals have these exact same features, recognition technology is quickly becoming one of the most effective security systems today. Authorized persons have their features stored in a database, which means only the person him- or herself is needed to disarm or arm a home. While recognition technology is still somewhat in its growing stages, it’s quickly gaining speed and popularity among savvy homeowners.

3. Sensor Technology

Sensor technology has been around for a while, but has evolved to become more efficient than ever before. Motion detectors, in particular, have long been heavily used among many homeowners in an effort to protect the home from intruders. These devices detect any movement in the sensor’s vicinity, which is very useful when the home is unoccupied at any given moment.

Also falling within this category are infrared cameras, which read thermal heat signatures of a moving body close by. These cameras have become so innovative that they can even detect heat signatures from as far away as 10 miles.

4. Smartphone Apps

These days, there seems to be an app for just about anything. Whether it’s to play games online, tally up daily caloric intake, or quickly reserve a taxi ride, apps have become heavily depended on in just about every realm you can think of.

In addition to these purposes, smartphone apps are also being used for home security. More specifically, apps are available that will allow you to unlock your front door as soon as you – and your smartphone – get close to your home. You can use this app on more than one phone if there are more family members living there. Each household member can have the app downloaded on their phone to provide easy and secure access to the property and keep the home secure when you’re not there.

The Bottom Line

There’s never been an easier, more effective way to keep your home secure than today. With the advent of digital technology, homeowners have plenty of innovative options when it comes to arming their homes. Not only are the above technologies keeping homes safer, they’re also making it a lot easier and more convenient for homeowners to protect their properties.

LINCOLN PARK

Alderman Brian Hopkins is looking out for you and your family as flu season approaches by sponsoring the 2nd Ward Family Health and Resource Fair in the Loggia Room of Latin School of Chicago at 59 W. North Blvd. this Saturday, 10/1, from 10:00 a.m. to 2:00 p.m. Nothing says caring like FREE flu shots and health screenings. City and state agencies will also be on hand to provide health and resource information.

LOOP

The $240 million purchase of the Tribune Tower has been finalized and the landmark now belongs to CIM Group®, the real estate investors who also owns Block 37 on State Street and several other investments in California and around the country. The gorgeous neo-Gothic facade will be preserved but only time will reveal what CIM Group has in store for the future of its interior. Will they create a retail mall similar to Block 37 and Water Tower Place, or will it be converted into a hotel, or condominiums with office spaces, or all of the above? With 36 stories and 737,000 square feet to work with, their plan for “mixed-use redevelopment” will be nothing short of impressive. Also on our collective mind is will the iconic building keep its iconic name or will it go the way of the Willis/Sears Tower? This is just the beginning of the newest chapter in the legacy which is the Tribune Tower.

OLD TOWN

Chicago is constantly expanding and we can be sure that developers are looking to squeeze in as much work as possible before the frosty months of winter are upon us. ChicagoArchitecture.org is a great resource for keeping up-to-date with construction projects and now they’re reporting the progress made by Sedgwick Development that is raising a mid-rise residential building in what once was a surface parking lot at 301 W. North Ave. Construction began in May and the foundations to the elevator core are now visible with concrete support columns in place for this 69-unit building which is on track to be completed by fall of 2017. 

OAK PARK

The Village of Oak Park is cool in my book because they use innovative ways of engaging its villagers. OakPark.com Staff Reporter, Timothy Inklebarger, has noticed signs around the village encouraging drivers to weigh in on the discussion of overnight on-street parking. He reports that recent real estate development has taken away village-owned and privately held surface lots, making parking more difficult. So the Village Parking and Mobility Services wish to circulate this On-Street Parking Rules Survey to give residents a voice in ongoing discussions with Oak Park’s Transportation Commission.

I’m a big fan of the use of surveys to gather and analyze information from residents, such as the Chicago Department of Aviation’s Fly Quiet Survey that is continuing to gauge the efficacy to reduce nighttime jet noise by use of O’Hare’s Runway Rotation Tests through January 2017. Just a little reminder that your opinion matters!

NORWOOD PARK

Attention, artists, young and old! Sprout Pediatric Dentistry wants to get everyone into the creative spirit of the season by holding a Halloween Window Painting event next Saturday, 10/8, from 11:30 a.m. to 3:00 p.m. at 6036 N. Northwest Hwy. Painters under the age of 18 are welcome to sign up but must have adult supervision with them throughout the hours of painting. Paints and brushes will be provided but painters will need to provide their own tarp for covering the sidewalk, a roll of paper towels and an empty box for holding paint supplies during the event. Sign up HERE to be assigned window space to share your fall and Halloween-inspired renderings with the neighborhood. Note: all entrants will be required to return on November 3rd to clean their artwork from windows. The event is not only fun but a well-rounded work experience.

CATHY MALLERS & DEAN’S TEAM CHICAGO