Home Insurance Rate Calculator
This calculator provides an estimated annual premium for your home insurance policy. Several factors influence your rate, and this tool helps you understand how. Keep in mind that this is an estimation, and your actual premium may vary based on quotes from specific insurance providers.
function calculateInsuranceRate() {
var rebuildCost = parseFloat(document.getElementById("rebuildCost").value);
var coverageLevelMultiplier = parseFloat(document.getElementById("coverageLevel").value);
var deductibleAmount = parseFloat(document.getElementById("deductibleAmount").value);
var creditScoreMultiplier = parseFloat(document.getElementById("creditScore").value);
var securityFeaturesDiscountPercent = parseFloat(document.getElementById("securityFeatures").value);
var claimsHistory = parseInt(document.getElementById("claimsHistory").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = ""; // Clear previous results
if (isNaN(rebuildCost) || rebuildCost <= 0) {
resultDiv.innerHTML = "Please enter a valid estimated rebuild cost.";
return;
}
if (isNaN(deductibleAmount) || deductibleAmount <= 0) {
resultDiv.innerHTML = "Please enter a valid deductible amount.";
return;
}
if (isNaN(securityFeaturesDiscountPercent) || securityFeaturesDiscountPercent 100) {
resultDiv.innerHTML = "Please enter a valid security features discount percentage (0-100).";
return;
}
if (isNaN(claimsHistory) || claimsHistory 500) {
deductibleAdjustmentFactor = 0.95; // Small discount for higher deductible
}
if (deductibleAmount > 1000) {
deductibleAdjustmentFactor = 0.90;
}
// Apply credit score adjustment
var premiumAfterCredit = basePremium * creditScoreMultiplier;
// Apply security features discount
var securityDiscountAmount = premiumAfterCredit * (securityFeaturesDiscountPercent / 100);
var premiumAfterSecurity = premiumAfterCredit – securityDiscountAmount;
// Apply claims history adjustment (claims generally increase rates)
var claimsAdjustmentFactor = 1.0;
if (claimsHistory === 1) {
claimsAdjustmentFactor = 1.15; // 15% increase for one claim
} else if (claimsHistory >= 2) {
claimsAdjustmentFactor = 1.30; // 30% increase for two or more claims
}
var finalEstimatedPremium = premiumAfterSecurity * claimsAdjustmentFactor * deductibleAdjustmentFactor;
// Ensure premium doesn't go below a minimum reasonable value (e.g., $300 annually)
if (finalEstimatedPremium < 300) {
finalEstimatedPremium = 300;
}
resultDiv.innerHTML = "Estimated Annual Premium: $" + finalEstimatedPremium.toFixed(2);
}
.calculator-inputs {
font-family: sans-serif;
border: 1px solid #ddd;
padding: 20px;
border-radius: 8px;
background-color: #f9f9f9;
max-width: 500px;
margin: 20px auto;
}
.form-group {
margin-bottom: 15px;
display: flex;
flex-direction: column;
}
.form-group label {
margin-bottom: 5px;
font-weight: bold;
color: #333;
}
.form-group input[type="number"],
.form-group select {
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1em;
width: 100%;
box-sizing: border-box;
}
.form-group input[type="number"]::placeholder,
.form-group input[type="number"]:focus::placeholder {
color: #aaa;
}
.calculator-inputs button {
background-color: #4CAF50;
color: white;
padding: 12px 20px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 1.1em;
width: 100%;
margin-top: 10px;
}
.calculator-inputs button:hover {
background-color: #45a049;
}
#result {
text-align: center;
font-size: 1.2em;
color: #2c3e50;
background-color: #e8f6f3;
padding: 15px;
border-radius: 5px;
border: 1px solid #a3d9d0;
max-width: 500px;
margin: 20px auto;
}