Shopping for homeowners insurance doesn’t need to be complicated. Compare rates from Michigan by city and carrier below.
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Homeowners insurance is an optional — but important — product that works to keep your belongings safe in the event your house or property suffers damage from common incidents. Homeowners insurance defends your dwelling and property against an array of calamities, including theft, fire, vandalism, or wind damage.
Unlike auto insurance, home insurance isn't priced based on state-level laws. Even so, major discrepancies exist in homeowners insurance rates on a state-by-state basis. Policy costs in a given state may vary based on the number of — and value of — homeowners policy claims submitted in that state, and depend on the value of the belongings and dwelling you're insuring.
The best way to acquire cheap home insurance in Michigan is to get quotes from as many insurance companies as possible. Learn more about home insurance rates in Michigan by referencing the below data. Remember: your rates will vary, depending on your coverage limits.
Prices for home insurance in Michigan will vary depending on the insurance company you use. Meemic offers the most affordable home insurance in Michigan — just $635 per year. This compares favorably to the state average cost of $1,176, providing a $541 price break on the state's average rate.
Get a head start on looking for affordable coverage by reviewing the most affordable Michigan insurance companies, listed below.
|Insurance Company||Average Annual Rate in Michigan|
Home insurance rates in Michigan vary depending on the city. Rates depend on city-specific variables, such as the number of local claims filed, giving your ZIP code weight in deciding how much you pay.
The cheapest home insurance rates in Michigan are in Ann Arbor. In Ann Arbor, the typical home insurance policy costs $856 per year — $320 less than the statewide average. The below cities have the most affordable homeowners insurance in Michigan.
|City||Average Annual Home Insurance Rate|
The amount of home coverage you select has an impact on the insurance premiums you pay. In Michigan, carrying $100K dwelling coverage costs an average of $527 per year, while carrying additional coverage up to $400K costs $1,387/year.
|Coverage Level||Average Annual Rate|
One of the decisions available when buying a homeowners insurance policy is how high to set your deductible. The deductible is the total dollar amount that the insured must contribute toward a covered loss. Choosing where to set your deductible plays a significant role in how much you pay for your home policy.
When considering your deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. As such, if you want lower insurance rates, aim for a higher deductible. Keep in mind that your deductible should only be set as high as you can reasonably afford if you suffer a loss.
Below you'll find some standard deductibles offered on most home policies alongside with related average insurance costs.
|Deductible Amount||Average Annual Home Insurance Rate|
If you want to save on home insurance, consider purchasing your homeowners and car insurance policies from the same company. A home and car insurance bundle in Michigan can lead to substantial savings on your auto insurance policy. Bundling home and auto policies in Michigan leads to average annual savings of $299.
|Avg. Annual Auto Insurance Rate (No Bundle)||Avg. Annual Auto Insurance Rate (Bundle)||Annual Bundle Savings||Bundle Savings %|
A great way to save is to bundle your home and auto insurance policies. Start shopping today!
Looking for information on homeowners insurance in a specific city?
Yes, you can get homeowners insurance on a land contract but keep in mind the policy might be canceled if the property is not occupied.
Sinkholes are viewed and categorized in the same way as earthquakes - as "ground movement, " which will not be covered under homeowners insurance. You might be able to add an endorsement depending on your insurance company, or get a separate sinkhole policy.