Best Home Insurance in Michigan

Contributor, Benzinga
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Want to find the best coverage? Most of our readers prefer Lemonade for their home insurance needs.

Looking for the best home insurance in Michigan? It’s a wise idea — Michiganders experience their fair share of severe weather. Heavy snow, freezing rain, and ice storms are common in this part of the country.

Doing so could help protect you from paying for damages such as fallen trees or a water pipe burst. An insurance policy will also help you avoid legal issues if some stranger slips and falls on your property due to cold and icy weather conditions.

Whether you are looking for a new insurance policy or have never taken out homeowners’ insurance in the past, there are several things you should know before you make a final decision. Here are the facts about homeowners’ insurance in Michigan, including details on what a basic policy does cover, and what it doesn’t.

Best Michigan Home Insurance Providers

Check out who made the list!

Best For
Ratings, price and customization
Pros
  • Get coverage in as little as 90 seconds
  • Most claims paid in less than 3 minutes
  • Leftover premiums support charities you care about
  • Buried utilities and equipment failure endorsements available
Cons
  • Not yet available in all states

1. Lemonade

Lemonade offers coverage in Michigan as well as a host of other states. Lemonade provides a top-rated homeowners insurance experience that’s easy and hassle free. Award-winning customer service and digital, super-fast everything from just $25 a month.

Using insurtech, Lemonade provides an insurance experience that’s fast, affordable and hassle-free. 

Using the Lemonade app you can get insurance in 90 seconds. It takes about 3 minutes to get paid for a claim. Boasting simplicity and transparency, Lemonade takes a flat fee, pays claims quickly and donates what’s leftover to causes close to your heart. It’s like receiving and giving all in one. 

Coverage includes things like theft (whether inside or outside your home), perils (fire, water damage, storm damage) and extra living expenses.  

Best For
Comparing Quotes
Best For
  • Homeowners comparing insurance policies
Pros
  • Customer service staffed by licensed insurance agents
  • Quick quote tool available for multiple insurance types
  • Automatically receive estimates for bundled auto-home insurance
Cons
  • Cannot view all quotes before scheduling a call with a representative
  • Does not actually sell the insurance policies it quotes

2. Policygenius

Compare insurance quotes side by side to find the best option and save money while you do it. Apply and buy through Policygenius and let the company’s licensed experts handle it all, free of charge.

Just apply for coverage through Policygenius, compare coverage and rates from multiple companies and select a policy.

Finally, check your eligibility for any available policy credits and discount. Next, choose a billing plan and sign.

The average annual homeowners insurance premium costs $1,211, according to Policygenius, but the cost differs from state to state. Check with Policygenius and find your premium today.

Best For
No Recent Claims
Pros
  • Ease of online service or through an agent
  • Clear claims process
  • Useful mobile app
Cons
  • Average customer satisfaction for claims
  • Optional coverage like yard and garden not available in every state

3. Allstate

Allstate is a reliable and trusted insurance provider that specializes in home, auto, and life insurance policies. They also offer various other types of coverage, including renter’s insurance, motorcycle insurance, and various retirement plans. Allstate has been an industry leader for many years. The company started in 1931 by General Robert E. Wood.

Why you should choose Allstate:

  • They are one of the top-ranking insurance providers in the nation and offer a wide range of policies for today’s modern families.
  • There are agents located in all states and in every city. This means that you don’t have to wait around to speak with a representative or have someone come out to your home to assess the damage.

Read Benzinga’s full Allstate Home Insurance Review

Best For
Customers who have existing policies with State Farm
Pros
  • Website provides helpful information
  • A nationwide network of over 18,000 agents
  • Bundling discounts
Cons
  • Premiums may be higher than some competitors

4. State Farm

State Farm is known for providing fast, quality assistance when you need it most. They are a leader in the insurance industry and have served hundreds of satisfied customers all throughout the nation since 1922. State Farm is a proud member of the communities that they serve, and the company always takes part in helping out local homeowners during natural disasters and with everyday issues.

Why you should choose State Farm:

  • They offer a wide range of discounts on their policies, including lower premiums for those who have more than one policy with them.
  • State Farm is one of the few insurance providers that offers home security plans from trusted companies such as ADT.
Best For
Tailored coverage
Pros
  • A long and considerable list of discounts that can save you hundreds of dollars
  • Ability to manage and track claims directly from computers or mobile devices
  • Excellent claims rating
  • Established company
Cons
  • Decent financial stability, but could be improved
  • Customer service and claims handling not always consistent or satisfactory

5. Liberty Mutual

Liberty Mutual Insurance has been involved in the industry since 1912. The company has always strived to offer broad, effective, and affordable insurance options to suit the ever-changing needs of their customers. They are now the 3rd largest insurance agency in the United States based on information from the National Association of Insurance Commissioners.

Why you should choose Liberty Mutual:

  • Liberty Mutual is one of the top-rated insurance companies in the US. They offer excellent, affordable plans for auto, home, renters, condominium owners, life insurance and motorcycle insurance.
  • Customers have the option to manage their policies or file a claim online. There is also a mobile app available to keep up with your policy while on the go.

Average Annual Premium in Michigan

The State of Michigan ranks at #13 for the most affordable homeowners’ insurance premiums in the nation. The average annual premium that Michigan homeowners pay for their insurance is around $877 annually. The national average premium is currently at $1,083. This means that homeowners in Michigan can save a maximum of $865 dollars per year when compared to other homeowners’ insurance premiums in the United States.

Finding the Best Premium for your Home

There are several things to determine when it comes to buying the right homeowners’ insurance premium in Michigan. You want to get the best deal for your money. But you also want to make sure that you keep your property protected at all times from whatever destruction the future may hold. Look at the reviews for the top insurance companies in your area.

Then determine which company offers the best type of coverage to meet your needs. Do you feel that you require more coverage for your personal property inside your home? Could the layout of your land make it easy for a visitor to have an accident that you would be liable for? Are there additional structures on your property that require extra protection such as a storage building, or tool shed?

These are all important things to consider when it comes to buying a homeowners’ insurance plan.

What Type of Damage or Loss Does Homeowners’ Insurance Cover?

The majority of all basic homeowner insurance policies will cover the following:

  • Damage to your residential home due to natural causes
  • Damage to additional structures on your property such as a storage shed or detached garage
  • Your personal items inside the home such as electronics, appliances, and furniture
  • Liability coverage due to another individual who doesn’t live at the home becoming hurt or injured while on your property

There are also additional coverage options that you can have added to your homeowners’ insurance policy. This could cover the cost of loss or damage to personal items such as antiques, collectibles, or jewelry which may not be included in your basic plan. You can also take out additional coverage for flooding, which is recommended if you live in a flood zone.

The Different Types of Homeowners Insurance Protection

Homeowners’ insurance protects a variety of different structures and items that you own. Here is some more information on the different types of protection offered from most homeowners’ insurance policies.

Dwelling Protection: This is coverage for your residential home. It will pay to replace or repair your home or other structures attached to your home including your garage or porch. The details of what your dwelling protection covers will vary from one company to the next. Always make sure you know exactly what your homeowners’ insurance policy covers before you agree to purchase it.

Additional Structure Protection: This is additional coverage that will pay for damage or loss to other buildings on your property. This can include a tool shed, storage shed, pool house, a detached garage or even your fence. These details will also vary depending on the insurance company you go with.

Personal Property Protection: This is coverage that will pay for theft or damage to your personal property inside your home. This can include TVs, refrigerators, sofas, kitchen appliances, and any other valuables. Some companies require you to take out additional coverage for expensive or hard to replace items such as family heirlooms, jewelry, antiques, or collectibles. If you have any concerns about what personal items have coverage and which do not, be sure to ask your insurance agent for more details.

Liability Coverage: This is coverage for any type of legal fees that you may need to pay in the event of an accident or injury occurring on your property. This coverage will pay for the medical costs if a person who doesn’t live with you becomes injured inside or outside your home.

Liability coverage will cover the medical or legal costs associated with a neighbor or friend slipping on an icy pavement, or an uninsured contractor getting hurt while on the job at your residence. As with all other coverage types, the terms of liability coverage will be different with each insurance company.

Michigan Flood Insurance

Unfortunately, most homeowners’ insurance policies do not cover flood damage. And that can be a devastating fact for residents of Michigan to find out after a heavy rainstorm. Flooding can occur in the state of Michigan during any season. The unfortunate thing is that most property owners don’t realize that their homeowners’ insurance doesn’t cover damage caused by floods until it’s too late.

It’s very rare for any homeowners’ insurance policy to include flood coverage. However, you can take out an additional flood insurance policy. Taking out a flood policy is especially a good idea if you live in an area that is prone to flooding and heavy storm activity. To learn more about how to get flood insurance, you can visit floodsmart.gov.

Does Homeowners’ Insurance Cover Tornado Damage?

Most homeowners’ insurance policies will cover damage caused by a tornado. However, the amount of coverage you receive depends on the region you are located in, and the type of coverage you have in place. The exact cause of the damage is another determining factor.

For instance, if the damages were caused by wind or hail, your policy will cover the costs. But, if the damage is due to flooding from the rain that accompanied the tornado, it’s possible that you may have to cover some repair costs out of your own pocket.

Homeowners’ insurance usually takes care of perils or natural disasters that include wind and hail. This can help to pay for the reconstruction of your home due to a recent tornado. Keep in mind, that some policies have limits to the amount they will pay toward your home repairs.

It’s important to review your policy prior to tornado season to determine if you have enough coverage to rebuild your home if necessary.

Most Affordable Michigan Cities for Home Insurance

Although homeowners’ insurance rates have gone up significantly across the nation over the past decade, the cost in Michigan has remained below the national average by as much as 21%. The most affordable cities for homeowners’ insurance rates in Michigan include:

Most Expensive Cities in Michigan for Home Insurance

The following cities in Michigan are above average with their homeowners’ insurance premiums. Some policies range as high as 150% above the average yearly cost.

What Factors Impact the Cost of Homeowners’ Insurance in Michigan?

To get the most out of your homeowners’ insurance policy, it’s important to find one that will cater to your own specific needs. You want to find the best insurance company for your budget. And be sure that you have the right amount of coverage needed for life’s everyday emergencies. Here are a few things that all homeowners in Michigan should pay attention to when it comes to comparing homeowners’ insurance providers.

The age of your home. Newly constructed homes will have much lower homeowners’ insurance rate than those that are older. Thanks to the newer plumbing, heating, and electrical systems, these homes are less likely to endure an accident due to faulty wiring. If you live in an older home, you will need to be prepared to pay out more for your premium.

The type of construction materials used. Your home’s construction quality is another determining factor of whether you will have to pay out a high premium or not. Brick, stone and concrete homes cost much less to insure than those made from flammable materials like wood.

The location of your home. The area your home is located in can also determine the cost of your average annual premium. Those located in high flood areas will have to pay out more, as well as homeowners who live in neighborhoods with a high crime rate.

The protection class of your home. This is determined by how far your home is located from the nearest fire department, or if there is a fire hydrant located nearby. Every home has a protection class that ranges from 1 to 10. Those with a classification of 1, are the most protected while those with a protection class of 10 are the least protected.

Get Home Insurance in the Mitten State

Choosing an insurance company for your homeowners’ insurance coverage can be difficult. You want to find the best policy for your home, yet you still want to remain within your family’s budget range.

The most important thing to remember when it comes to taking out an insurance policy is that you know exactly what your policy covers. This will provide you with the peace of mind that you need when faced with a home disaster.

Want to learn more about finding the best affordable insurance? Check out Benzinga’s guides to finding the best car insurance in Detroit, the best vision insurance in Michigan, the best affordable health insurance companies and the best cheap life insurance companies.

Frequently Asked Questions

Q

What does home insurance cover?

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What does home insurance cover?
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A
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Most modern home insurance policies cover your home for nearly all risks. However, every policy has exclusions, among which you’ll find things like neglect, wear and tear, and ordinance or law. Land movement, including earthquakes, and floods are excluded as well but can be insured with a separate policy. Personal property and liability coverage is also part of most home insurance policies. Get the best policy quote here.

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Q

What can I do to ensure that my home is properly covered?

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What can I do to ensure that my home is properly covered?
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A
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The most important thing you can do is have a conversation with your agent or carrier to be sure you have the right amount of coverage. Avoid putting just the minimum coverage on your home: Remember, if your home is destroyed, you need to have enough coverage to rebuild the entire home, so you’ll want to insure it for more than just the market value. Also, notify your insurer of renovations or changes that you make to your home — and don’t forget to check to be sure you have enough liability coverage. Get the best quote today from our top providers.

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Q

If my home is destroyed due to fire or weather, how long will it take for my insurance claim to be settled and my home to be repaired?

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If my home is destroyed due to fire or weather, how long will it take for my insurance claim to be settled and my home to be repaired?
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From start to finish, the process could take anywhere from 12 to 24 months. The variables that play the largest role are the size of the loss and the insurance company you choose. Check her for the cheapest homeowners insurance quote.

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