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Michigan Homeowners Insurance Quotes - Best and Cheapest (2022)

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Insurify Staff

By: Insurify Staff

Last Updated February 25, 2022


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Michigan Average Cost of Homeowners Insurance Rates (2022)

According to 2021 rates, the average cost of homeowners insurance in Michigan is $1035 per year and $86 per month. Michigan homeowners insurance rates are $363 per year less then the national average and about 26% less annually. When compared to the other US states that makes the cost of homeowners insurance in Michigan the 35th most expensive in the country, based on 2021 data.

For shoppers, the best way to find a homeowners insurance policy in Michigan is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.

Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Michigan in minutes.

Michigan Average Homeowners Insurance Rates
Average Cost Per Month$86
Average Annual Premium$1035
State Rank (Most Expensive)35th

Cheapest Insurance Companies for Homeowners in Michigan (2022)

For homeowners in Michigan, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Michigan. The following are the best insurance rates from carriers that offer homeowners insurance in Michigan.

Cheapest CompaniesQuotes
Wolverine Mutual$1,611
Cincinnati Insurance Companies$1,890

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How to Get Affordable Home Insurance in Michigan

There’s no doubt about it, buying a home is a huge financial investment—it’s often the biggest financial investment a person will make. This investment comes with considerable risk, but there are steps you can take to minimize your risk and protect your investment.

The first step to protecting your new home is homeowners insurance. It’s not required by Michigan law, but it’s a good idea. Home insurance provides financial liability for your property and belongings, which will protect you in case of natural disasters or theft. You can find different coverage options and levels for different property types, locations, and other factors.

See below for our full guide on Michigan home insurance.

Homeowners Insurance Quotes in Michigan by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2021, the average rate for home insurance premiums in Michigan is $2,141 per year, and the median home value is $155,700.

That’s a pretty penny. How can you be expected to pay all of these insurance costs (vital as they are) and still provide for you and your family?

Average Annual Homeowners Insurance Premium in Michigan by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

Wolverine Mutual
Cincinnati Insurance
State Farm

Home Insurance Rates in Michigan by City

Home insurance varies in price from city to city, just like property costs. The price of a homeowners policy is determined by variables specific to your ZIP code, such as the volume of claims nearby, crime rates, property costs, and risk variables, such as the frequency of natural disasters. Your specific neighborhood might even influence whether you pay more or less on your annual premiums.

Home insurance rates in Michigan can be relatively high or low compared to the national average cost. It depends on which city you live in. Here are the most and least expensive Michigan ZIP codes in which to insure a home.

CityMedian Home Price
Fisher Island$4,267,962
Coral Gables$3,603,721
Miami Beach$3,029,308
Palm Coast$229,818
Cape Coral$232,309

What Does Home Insurance Cover in Michigan?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

  • The simplest and least comprehensive type of homeowners insurance.

    Provides coverage for a handful of potential problems including:

    • Natural disasters (storms, fires, wind lightning, volcanic eruption)
    • Explosions
    • Theft
    • Damage from vehicles
    • Civil commotion
  • Broad form homeowners insurance policies include all basic form coverage, plus:

    • Protection from falling objects
    • Damage from the weight of ice, snow, or sleet
    • Freezing of household systems including HVAC and pipes
    • Sudden and accidental damage to pipes and other household systems from artificially generated electrical current
    • Accidental discharge or overflow of water or steam
    • HO-2 policies typically cover both dwelling protection and personal property.
    • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
    • The most common form of homeowners insurance is known as a “special form” policy.
    • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
    • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
    • Some HO-4 policies may also include loss of use coverage for the tenants.
    • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
    • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
    • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
    • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
    • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
    • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
    • These policies also include personal property and liability coverage and may include loss of use coverage.
    • If you own a mobile home or manufactured home, you likely have an HO-7 policy.
    • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
    • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
    • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
    • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
    • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
    • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

For more detailed Michigan city level guides, check out these below.

Mobile Home Insurance in Michigan

If you have a mobile home or manufactured home, an HO-7 policy is the best option for you. These policies are usually very similar to HO-3 policies but are designed specifically for mobile and manufactured homes. They typically include dwelling coverage, other structures coverage, personal property coverage, and liability coverage, and in some cases, they may also include loss of use coverage.

However, it’s important to know that HO-7 policies only protect your mobile or manufactured home when it’s stationary. If you plan to move it, you might need to get additional coverage that will protect your home while it’s moving.

Natural Disasters and Home Insurance Coverage

Michigan is vulnerable to several kinds of natural disasters, including extreme heat, wildfires, harsh winters, tornadoes, severe thunderstorms, and even the occasional earthquake. Your level of coverage determines how much your property is protected during circumstances like these. It might be a good idea to review your current policy and determine your coverage amount against natural disasters. You don’t want to file an insurance claim after a natural disaster and then discover that the damage wasn’t covered—especially since natural disasters can cause tens of thousands of dollars in damage fairly easily. If you’re not sure what your policy covers, talk to your insurance agent and have them walk you through the policy. You can also research new insurance carriers with tools like Insurify, which allows you to find the best home insurance (as well as life and auto insurance) within a few minutes.

Some types of disasters, like flooding, may be specifically excluded. If that’s the case, consider buying flood insurance. High-risk flood zones may require you to buy it as protection against flood damage. However, even if you don’t live in a high-risk zone, flood insurance can be a smart purchase if you live anywhere near an area that has flooded in the past. Learn more about flood insurance and how to find flood insurance providers from the National Flood Insurance Program.

Special Home Insurance Situations in Michigan

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Michigan.

Cheapest Home Insurance for Houses Near Fire Department in Michigan

If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.

Insurance CompanyAverage Annual Premium

Cheapest Home Insurance for Homeowners with Poor Credit in Michigan

Credit scores affect your insurance rates. Insurance companiies take the score into account when calculating risk. Your poor credit score could negativlely affect your policy rate.

Insurance CompanyAverage Annual Premium
Wolverine Mutual$1,744

Great lakes, great rates.

How to Find the Cheapest Home Insurance in Michigan

Just like groceries or clothes, you can find a good bargain on home insurance in Michigan. With a little research and the right tools, you’ll be on your way to big savings.
Use Insurify to compare home insurance premiums for your property in Michigan.

Michigan Homeowners Insurance FAQ

  • The cost of home insurance varies from city to city and sometimes from neighborhood to neighborhood. Get quotes from different homeowners insurance companies by using Insurify.

  • Yes, USAA insures homes in Michigan. However, USAA’s policy is that policyholders must either be active military members or veterans or have family in the armed forces to qualify for USAA insurance products.

  • No. Most home insurance companies do not cover flooding as part of a standard homeowners policy. You need to buy separate flood insurance if flooding is a concern.

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Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Insurify Staff
Insurify Staff

Content Specialist at Insurify

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