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How your Premiums are calculated?

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From the location of your home to construction type, several factors can affect your home building insurance premiums. DSH Insurance takes a range of factors into account that may have an impact on the calculation of your premium:

  • Your home – including the location, construction materials, the year your home was built and the type of building. If the home is located in a region prone to natural disasters or constructed of materials that presents a higher risk, the premium will be higher
  • The Sum Insured value – the higher the sum insured, the higher the premium.
  • Your past claims experience – your premium may be lower if you have a good claims history but higher if you have made a number of claims in the past.
  • The age of the home and its general condition – if the home is in good condition and is well maintained, the premium may be lower.
  • Home occupancy – if you are renting out your property, or your home is unoccupied for a certain amount of time, it may affect your premium.

Our approach to premium pricing ensures each policyholder is charged a premium, which is in line with the level of risk of the policyholder and their property.

Why your premium may change

Sometimes premium prices will go up across the board, and sometimes your own premium might change because your level of risk has increased. Each time you renew your insurance, your premium is likely to change, even if your personal circumstances have not. There are many factors that may change your premium in any given year, examples include the amount your building is insured for, your claims history, our accessibility to more accurate data available, changes to repair and replacement costs.

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