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Michigan Home Insurance

“The single best suggestion that I can give to you as a consumer is to take the time to shop around.”
                                                            Ken Ross, Commissioner
                                                            Michigan Office of Financial and Insurance Regulation

Michigan home insurance can be expensive, but there are many things one can do to make that cost as low as possible. Insurance-Rates-Online Save Money On Michigan Home Insurancecan help each step of the way. After all, isn't it better to keep those dollars in your pocket instead of paying them to a home insurance company? Start saving now!

The Basics of Michigan Home Insurance

Michigan places more regulations on home insurance companies than most other states. Rates are regulated by state law so that all companies are considered competitive.

The State of Michigan requires all home insurance companies to offer a home insurance policy regardless of where consumers live if the home is eligible for coverage, so no one can say they don’t sell policies in a specific neighborhood.

There are two types of policies – individual policies and group policies. In an individual policy, rates are and discounts are based solely upon the home. In group policies, rates and discounts are based upon an additional common factor such as membership in an association.

Michigan Home Insurance usually covers a specific list of perils (things that can cause damage to the home or property). This list includes:

  • Dwelling – the actual home
  • Appurtenant Structures – other structures on the property, like a detached garage
  • Contents – personal property like furniture, clothes, appliances
  • Additional Living Expenses – if the home cannot be used while it is being repaired, these funds help pay the additional costs 
  • Liability – pays legal expenses if homeowners are sued because someone was injured on the property or by someone covered by the home insurance policy
  • Medical Payments – covers medical expenses if someone who does not live there is injured.
  • Property of Others – pays for replacement or repair of someone else’s property if it’s damaged by the homeowner's property.

Additional Coverage Available Through Michigan Homeowners Insurance Policies

Most Michigan home insurance policies are “Named Perils” policies meaning they cover a specific list of risks. Usually these are the most common types of risks, like fire, wind or hail damage, vandalism, theft, etc.

Policies which protect dwellings from everything, called “All Risk Coverage” policies, are available, but can be much more expensive. Sometimes instead of buying this more costly choice, consider simply adding an endorsement to a named perils policy to get the additional coverage needed. Some of the most popular endorsements are:

  • Personal Property – normal property limits may not be sufficient to repair or replace items like fur, computers, coin collections, cameras, etc.
  • Backup of Sewers and Drains – this isn’t normally included in policies, so if you live in an area that’s prone to this occurrence, it’s a good idea to buy this coverage.
  • Ordinance and Law Coverage – pays the difference to bring repairs up to current code if the laws have changed since your home was built.
  • Flood Insurance – This type of insurance is only available through the National Flood Insurance Program, which is offered by the Federal Government.

Factors Affecting Michigan Home Insurance Rates

Most companies use the same factors in determining home insurance rates, but each company weighs them differently. Items which will affect the cost of premiums include:

  • Home Construction – frame homes are more expensive to insure than brick.
  • Age of Home – newer homes are less expensive
  • Physical Condition of Home – has the property been well maintained over the years?
  • Geographic Area – if a home is located in an area prone to flooding or tornadoes, it will cost more to insure.
  • Fire Protection Classification – How close is the nearest fire station, and how good is that fire station? Is there a fire hydrant nearby?

How to Save Money on Home Insurance in Michigan

There are many ways to lower insurance premiums. Virtually all home insurance companies in Michigan offer discounts for a wide variety of things, so the smartest thing to do is to ask about all possibilities. Here are some discounts to ask about:

  • Safety and Security Devices – homes with a security system, smoke detectors, deadbolt locks or fire extinguishers are eligible for lower rates.
  • Construction/Remodeling Discount – by updating the heating, electrical or plumbing systems in the home, or adding fire resistant materials, rates should go down.
  • Senior Discount – Folks over 55 frequently receive lower rates.
  • Non-smoker Discount – Families without smokers statistically have fewer claims, so their rates are lower.
  • Paid-In-Full Discount – If there is no longer have a mortgage, this could mean a discount on homeowners insurance rates.

For more ideas on saving money on home insurance, see visit Home Insurance Shopping Tips.

Time to Shop, Compare and Save

Now that you know the facts about Michigan Home Insurance, it’s time to take the most important step towards lowering your home insurance premiums – comparison shop. Fortunately this is easy to do. Just enter your zip code in the box below, click enter, and you’ll instantly be matched with top insurance companies offering coverage in your area. Click on at least three or four, and request a free quote. Soon you’ll find the right insurance at the right price. It’s so easy! Why wait? Enter your zip code now!


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