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Homeowners Insurance in Michigan

Amy Danise

If you own a home in Michigan, you want the right insurance coverage for the investment in your house. Luckily, Michigan is relatively free of the kind of natural disasters that homeowners in other states contend with. Aside from winter storms and potential floods, Michigan homeowners don’t worry about hurricanes, wildfires, earthquakes or sinkholes.

Do I have to buy Michigan home insurance?

There’s no law that says you have to buy insurance if you own a home in Michigan, but if you have a mortgage, your lender likely requires it.

Is Michigan home insurance expensive?

Unlike Michigan auto insurance, which is among the most expensive in the country, the average Michigan homeowners insurance premium is less than the national average. It’s an average of $952 a year in Michigan for a typical policy, and $1,192 a year nationwide, according to the National Association of Insurance Commissioners.

What does Michigan homeowners insurance cover?

A standard Michigan home insurance policy will have these six main types of coverage:

  • Coverage A - Dwelling: For house damage.
  • Coverage B - Other structures: For damaged or destroyed structures that aren’t attached to a house, such as a garage, storage shed and fences.
  • Coverage C - Personal property: For all your belongings (such as furniture, clothing, rugs, TVs) that are damaged or stolen.
  • Coverage D - Loss of use: For additional living expenses such as hotel and restaurant bills if you have to temporarily move because of damage to the house.
  • Coverage E - Personal liability: In case you’re legally responsible for someone else’s injury or property damage, and also pays to defend you in court against liability lawsuits.
  • Coverage F - Medical payments to others: For the medical bills of others hurt on your property.

How do I get Michigan flood insurance?

Food insurance is available from the National Flood Insurance Program (NFIP), a federal program. A home insurance agent can help you apply for an NFIP policy.

20 largest Michigan homeowners insurance companies

Rank in Michigan Company Market share % in the state
1 State Farm 16.37
2 Auto-Owners Insurance 14.91
3 Auto Club Insurance Association 14.23
4 Allstate Corp. 8.44
5 The Hanover Insurance Group 8.42
6 Michigan Farm Bureau 5.63
7 Liberty Mutual 4.84
8 Farmers Insurance 3.83
9 USAA 3.18
10 Frankenmuth Insurance 2.75
11 Pioneer State Mutual Insurance Co. 2.18
12 American Family Insurance 1.86
13 Progressive 1.47
14 Nationwide 1.11
15 Chubb 1.05
16 The Cincinnati Insurance Cos. 1.04
17 The Hartford 1.01
18 Westfield Insurance 0.82
19 Ameriprise Financial 0.7
20 Hastings Mutual Insurance Co. 0.6
Source: S&P Global Market Intelligence, based on homeowners multiple peril insurance market share in 2018.

What if I get turned down for home insurance?

If companies decline you for home insurance, you can turn to the Michigan Basic Property Insurance Association. Known as the “insurer of last resort,” it offers coverage for homeowners who can’t find it on the “voluntary” market. Any licensed property/casualty insurance agent in Michigan can help you apply.