Home Insurance in Fairmont, WV
Finding the right home insurance in Fairmont, WV, is essential to keeping your house and belongings safe.
Fairmont, WV, is a relatively small city of around 18,200. Though predominantly white, there are residents of Asian, Hispanic, American Indian and African-American descent. Most adults have a high school diploma and 28.8% hold college degrees, which is nearly 10 percentage points lower than the national average but seven points higher than the state average.
The cost of living is lower than the national average, and the unemployment rate is only 6.0% ” on par with the national rate. The median home price is also quite reasonable at $145,900, and most properties fall into the $63,000 to $254,000 range. However, 19.9% of Fairmont residents live below the poverty line, significantly higher than the national average of 12.4%. It also has a fairly high crime rate compared to the state and national median.
Fairmont has pretty consistent rain throughout the year, with peaks in May and June. Snow starts in November, peaking in February and tampering off in April. Temperatures can reach a low of 21 degrees in January and a high of 84 degrees in July, making summers comfortable, if a little cloudy.
Home insurance shields homeowners from paying the full cost of repairs after a natural disaster. Unfortunately, Fairmont sees a lot of thunder- and snowstorms, which can do massive damage to a house:
Flooding is another concern in Fairmont, especially if you have a basement. Heavy rains can oversaturate the ground, leaving standing water that may rot structures and cause mold. Freezing rain can also damage gutter systems, which may then cause puddles to form on rooftops or close to the house. If this water seeps into cracks and freezes, it will expand, causing incremental damage over time.
The frequent rain can also be a liability issue if you have guests over. Muddy puddles in the summer and ice slicks in the winter pose a slipping hazard. If a guest has an accident on your property, you may be liable for paying medical bills. Homeowners insurance covers these costs and can even pay for an attorney should the guest decide to sue.
Standard home insurance also covers criminal damage. For example, if thieves break a window to get into your residence, your policy may pay to repair it. Policies also cover stolen items up to a limit, ensuring you can replace electronics, jewelry and other valuables.
Fairmont has a relatively low annual premium compared to the state average, likely because of the low cost of living. At $1,193, the yearly premium is also significantly lower than the national average. Affordable housing prices may also play a role, as insurers won't have to spend as much on repairs. In contrast, high-density cities typically have higher home prices due to increased demand, which means paying more for the same repairs.
Finding the right insurance requires a lot of research, as you must look at several quotes to find the best deals. Fortunately, you don't have to tackle this project on your own. VIU by HUB pulls quotes from a variety of insurers, allowing you to compare prices and coverage. With the data laid out in black and white, you can make a smart decision in a fraction of the time.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
