What to Know about Homeowners Insurance

in Michigan

Facts about Homeowners Insurance in Michigan

Home insurance is not required by law. However, if you have a mortgage or you take out a home equity loan, your lender will require you to have it. Given its proximity to lakes Superior, Michigan, Huron, and Erie, this state sees more than its fair share of lake-effect rain and heavy snow, leading to property damage. Michigan also has a significant risk of tornadoes, severe storms, and damaging winds. Homeowners insurance protects the investment you have made in your property against these hazards.

More Michigan home insurance facts

  • Annually, MI homeowners collect about $1.2 billion in claims. 
  • An average of 14.7 tornadoes touch down in this state every year.
  • Michigan has had 38 federally declared disasters since 1953.
  • Many Michigan cities get more than 10 feet of snow each year.

Average Cost of Homeowners Insurance in Michigan

The average cost of home insurance in the United States is $1,173 a year. The good news for Michigan property owners is that, at an average of $908 a year, this state has some of the lowest home insurance rates in the country. Rates can be influenced by many factors, including the size, age, and value of your home and the crime rate and weather risks in your ZIP code. Comparison shopping lets you find the best price for a policy that meets all your coverage needs.

Average Price of Homeowners Insurance

average cost of homeowners insurance in the midwest

Why Choose an Independent Insurance Agent?

  • Independent insurance agents live and work in your community
  • These agents can shop around to help you find the best policies
  • Your agent can provide one-stop shopping for all your insurance needs

Find an independent agent in Michigan

We were looking for a homeowners insurance for our home purchase and selected TrustedChoice based on the insurance market. Their reps explained what their insurance is and it was successful. The process was easy and we got the results we were looking for, I will be using them from now on.

five start review Logan of Detroit, MI Consumer Affairs

What Does a Homeowners Insurance Policy Cover?

Your homeowners insurance is designed to cover the costs associated with many of the hazards you face as a property owner in Michigan. Whether your property has been damaged by an accidental fire, a severe weather event, or vandals, you can rest assured that your homeowners insurance coverage can prevent you from facing a large financial loss.

  1. Pays for damage to your property: This covers the cost to rebuild, repair, or replace if your house or the contents within are damaged by a covered event. A heavy snowstorm damages your roof and destroys your gutters.
  2. Provides liability coverage: This covers legal fees and other expenses if you are sued for third-party injuries or property damage that occurred on your property.  A guest needs surgery after slipping on your icy driveway.
  3. Covers temporary living expenses if needed: This pays for food, lodging, and other expenses if your home is uninhabitable due to a covered event.  A tornado damages your house, and you must stay in a hotel until repairs are made. 
  4. Compensates for loss or damage due to property crimes: This covers crimes like theft, arson, and vandalism.  While you are on vacation, a burglar steals your jewelry and your collection of rare Motown records.

Floods, landslides, and mudslides are not covered by homeowners insurance. If you are at risk for these hazards, be sure to talk to your insurance agent about adding flood insurance and difference in conditions (DIC) insurance.

Top Insurance Companies That Support Independent Agents in Michigan

There are currently 899 independent insurance agents in Michigan who are ready to help. Because independent agents are free to work with several different insurance companies, they can save you time and money by comparison shopping on your behalf. Let a local agent help you review a variety of customized home insurance quotes so you can choose the policy that offers the right coverage at the best price.

Why go Independent

Why Go Independent when looking for Homeowners Insurance?

  • Agents Research for You
  • Insurance You Can Understand
  • Multiple Quotes