Best Homeowners Insurance In Michigan 2024

Cheapest home insurance companies in Michigan

Progressive and AAA offer the cheapest home insurance rates in Michigan, based on a typical dwelling coverage limit of $350,000.

Company	Home insurance cost in Michigan for $350,00 in dwelling coverage
Progressive	$699
AAA	$781
Westfield	$922
USAA	$935
Hastings Mutual	$973
Frankenmuth	$988
Cincinnati Insurance	$1,081
Farmers	$1,242
Grange Mutual	$1,266
State Farm	$1,291
Pioneer State Mutual	$1,394
Wolverine Mutual	$1,511
Hanover	$1,540
Pure	$1,740
Chubb	$1,767

See More See Less

Michigan home insurance costs an average of $1,209 a year, based on a Forbes Advisor analysis of rates for dwelling coverage of $350,000.

Forbes Advisor’s analysis of rates from insurers found that the average annual cost of homeowners insurance in Michigan is:

• $794 for dwelling coverage of $200,000
• $1,209 for dwelling coverage of $350,000
• $1,725 for dwelling coverage of $500,000
• $2,507 for dwelling coverage of $750,000

Rates for the same policy can vary significantly from one homeowners insurance company to the next. That’s why it’s prudent to compare home insurance quotes—it’s the only way to know you’re getting the best deal.

Rates for the same policy can vary significantly from one homeowners insurance company to the next. Progressive ($699 a year for $350,000 in dwelling coverage) is the cheapest Michigan home insurance company, among the companies we evaluated.

Your ability to find cheap home insurance in Michigan will depend on several factors, including:

• The cost to rebuild your home
• The materials your home is constructed of
• The age of the home
• The claims history in your area
• Your personal claims history
• The fire ratings of your area
• Your coverage amount and policy limits
• Your deductible amount

A standard home insurance policy is also called an “HO-3” and covers your home for any problem that’s not excluded in the policy. Common exclusions include floods, earthquakes, sinkholes, vermin and insect infestations and wear and tear.

Your personal property is covered for specific “perils” in a standard homeowners insurance policy. Theft, vandalism, tornadoes and fires are examples of problems covered by home insurance.

Here are the main coverage types found in a standard home insurance policy:

• Dwelling: This covers the costs to repair and rebuild your home if it’s damaged. It also covers attached structures, like a garage or deck. When deciding how much home insurance you need, match dwelling coverage limits to the cost to rebuild your home with equitable materials.
• Other structures: This covers the costs to repair and replace structures that are not attached to your home, like a fence or gazebo.
• Personal property: This covers the costs to repair or replace your personal belongings after a problem like a theft or fire. Your personal belongings include your clothes, furniture, rugs, jewelry and other items.
• Liability: This covers property damage and injuries you accidentally cause to others. For example, if a guest falls in your home, your liability insurance can pay for medical bills. Liability home insurance also covers a legal defense and judgment if you are sued because of an accident.
• Medical payments to others: This covers smaller medical bills to guests, no matter who is at fault for the injury. For example, if a guest cuts their hand while visiting your home, this coverage can pay for a trip to urgent care. Medical payments to others are usually sold in small amounts, like $1,000.
• Additional living expenses: If an event such as a fire or tornado displaces you, additional living expenses covers costs like hotel bills, takeout meals and pet boarding services.

Not every problem that befalls your home is covered by homeowners insurance. Common exclusions include earthquakes, floods, sinkholes, power failure, nuclear hazard, vermin and insect infestations, wear and tear and intentional loss.

Make sure you read your policy closely to understand what’s excluded from coverage.

A standard home insurance policy does not cover flood damage. You’ll need to buy a separate flood insurance policy to cover your home and personal belongings.

Financial assistance from your state or federal government after a flood can be limited. It’s better to rely on your own flood insurance. Most people who have flood insurance purchase it through the National Flood Insurance Program (NFIP), a federal program. You can also get flood insurance through the private market.

FEMA’s Individuals and Households Program (IHP) can provide monetary and direct assistance after a major disaster or emergency, if you are eligible. This program helps people find housing after a problem directly caused by a disaster and that’s not covered by insurance or other sources.

Whether you’re about to move into your first home or you’re looking to switch to a new home insurance company, you want to find a policy at a fair price without sacrificing your coverage needs. Here are guidelines for both newbies and longtime homeowners:

• Know how much it costs to rebuild. You want to have enough dwelling coverage to cover the cost to rebuild your home if it was destroyed, for instance, by a fire. Ask your insurance agent to estimate the cost based on equitable materials and labor costs in your area.
• Cover your assets. When it comes to buying liability insurance, make sure you have enough to cover what could be taken from you in a lawsuit, such as your savings and other assets.
• Schedule your valuables. Home insurance usually has sub-limits on certain types of high-value items, like jewelry. If you have pricey possessions, make sure you schedule personal property so they’re covered for what they are worth.
• Add replacement cost coverage. Actual cash value will only pay the depreciated value of your items. Replacement cost coverage will pay to replace your damaged items with new items. Even better, consider extended or guaranteed replacement cost coverage—if it’s offered—to get the most protection.
• Fill in coverage gaps. You can add additional coverage to plug holes in your policy, such as more coverage for landscaping and water backup coverage.
• Ask for discounts. You can often get discounts for home safety features, new homes, upgraded plumbing and electricity, and insuring other insurance types (like auto) with the same insurance company.
• Compare quotes from multiple insurers. Not all insurance companies price their policies the same. You might be able to find the same coverage for a better price elsewhere. You can compare home insurance quotes online or speak with an independent insurance agent.

To find the best home insurance in Michigan, Forbes Advisor scored each company based on:

• Home insurance rates in Michigan (50% of score): Rates were based on dwelling coverage of $200,000, $350,000, $500,000 and $750,000. Source: Quadrant Information Services.
• Complaints about homeowners insurance (50% of score): Based on complaints made to and upheld by state insurance departments, for each insurer’s largest subsidiary in Michigan. Source: National Association of Insurance Commissioners.

• Best Homeowners Insurance Companies
• Cheapest Homeowners Insurance Companies
• Average Cost Of Homeowners Insurance
• How Much Homeowners Insurance Do You Need?
• Top Homeowners Insurance Tips
• Compare Home Insurance Quotes