Having a home really close to a water tower can sometimes increase your homeowners insurance rates because there is an increase in water pressure that could come into your home.
That increase in water pressure can likely break and burst pipes and hoses and cause flooding in your home so some homeowners insurance rates may be higher when living near a water tower.
But then again some homeowners who live near a water tower may see a decrease in the cost of their homeowners insurance rates.
The reason for the lower cost in homeowners insurance rates is because there will be more water available during a potential fire.
And you'll have more water pressure at a fire hydrant near your home so the fire department can more easily put out the fire.
So sometimes your insurance for your home may be lower in cost when living near a water tower and other times it may be higher for your homeowners insurance depending on the insurance company you choose for your homeowners insurance.