Need a Michigan Homeowners Insurance Comparison?
As a homeowner in Michigan, your home is one of your most valuable assets, and it should be protected as such. However, in the event of damage to your home, you will need an insurance company that comprehends its value. Mason-McBride will help you find the best combination of tailored coverage, quality service, and competitive pricing for your home insurance policy.
Note: You cannot use traditional homeowners insurance if you want homeowners insurance for a rental property or an unoccupied home. You need a “Specialty Dwelling” policy, which we can also help you with.
It doesn’t matter if you live in Troy, Warren, Sterling Heights, or any other part of Michigan; home insurance is essential. However, it’s helpful to know that no two homeowners insurance policies are the same. Different insurance companies offer additional coverage levels, endorsements, and riders, and they have other conditions and limitations.
Michigan Home Insurance: Making Sense of It
It can sometimes be challenging, if not impossible, to tell the difference between two home insurance policies if you don’t use an independent agent.
Whether you own or rent, home insurance can help protect you financially in the event of a fire, theft, vandalism, or another covered event. For example, you’re covered if someone gets injured on your property and wins a lawsuit against you.
Different homeowners policies cover additional losses, have other coverages, and depend on the type of residence you own. So you decide what’s best for you, whether it’s a comprehensive policy that covers fire, hail, smoke, falling objects, vandalism, and theft of personal property, or a policy that only covers specified losses.
Common Homeowners Insurance Coverages
Here are some common coverages you’ll find on a policy:
Dwelling — This is the portion of your policy that covers the actual structure (main house). The cost to replace your home can change based on the cost of raw materials and labor, as well as supply and demand.
Other Structures — Covers anything on your property that isn’t permanently attached to your house, like fences, driveways, sidewalks, and detached buildings like sheds and garages. It’s usually 10% of your Dwelling limit, but you can get more coverage if you need
Personal Property — All your personal stuff is covered, including clothes, furniture, electronics, and appliances. Anything that would fall out if you tipped your house over and shook it.
Loss of Use —Covers your living expenses if you have to live somewhere else because your home is uninhabitable.
Medical Expense —Guests are covered for medical expenses if they get hurt on your property, and in some cases, people are covered for injuries off your property. Health care isn’t covered for you or other family members.
Personal Liability — Liability coverage kicks in if someone gets hurt or their property gets damaged, and you’re to blame. Consider things like how much you make and what you own when choosing your liability coverage limits. Make sure your liability coverage is high enough to cover your assets in case you’re sued.
Scheduled Personal Property — There are times when you might need special coverage for things like jewelry, guns, artwork, rugs, etc.
Home Insurance Costs
Rates for Michigan homeowners insurance are calculated using both personal information and external data. Risk factors include past claims reported, insurance scores, the coverage selected, local crime, and natural disasters.
Choosing an insurance policy based solely on price can be risky – as you may not get adequate coverage or the right type of coverage. Instead, remind yourself that purchasing appropriate homeowners insurance is an excellent way to protect your investment in your home. A licensed professional from Mason-McBride can explain how these factors affect your home insurance rates and provide you with a policy that offers adequate protection.
Get a Quote From a Local Agent:
Whether you need Michigan Homeowners Insurance, Auto Insurance, Life Insurance, Umbrella Insurance, or a combination of coverages, our team of specialists will compare rates and find you a coverage plan that offers complete protection from the unexpected.