Homeowners Insurance Premiums Explained

An insurance premium is the monthly or annual payment you make to an insurance company to keep your policy active.
According to Business Insider, the more risk you pose to the insurance company, the higher your premium will be.
Premiums for homeowners insurance are often determined by several factors outside of the homeowner's control.
An insurer will consider your home's location, as well as the size, age, and build of the home.