Escanaba Homeowners Insurance

Your Complete Guide to Escanaba, MI Homeowners Insurance

Find the right homeowners insurance policy for you.

Escanaba is a port city on Little Bay de Noc in Michigan’s Upper Peninsula. It is the third-largest city in the Upper Peninsula, with a population of more than 12,000 residents. Escanaba homeowners can experience all kinds of property damage, from fires and break-ins to damage caused by severe weather or other unforeseen events. That’s why you need quality, affordable home insurance to protect your investment. When you are shopping for Escanaba home insurance, ask a local independent insurance agent for help. 

Cost of Homeowners Insurance in Escanaba, MI

Michigan is the 39th most expensive state for home insurance in the US. The average cost of homeowners coverage in the state is lower than the national average, and the rates in Escanaba are quite low relative to the rest of the state. But not everyone pays the same, and you can still shop around for the best rates.

  • National average yearly premium: $1,173
  • Michigan average yearly premium: $908
  • Escanaba average yearly premium: $623

Your homeowners insurance premiums are likely to vary from the average cost in your city. That’s because rates are determined according to your unique home and coverage needs. Insurance companies calculate individual home insurance rates based on the age, size, value, and building materials of your home, and the type of home you have. Insurance companies also evaluate the crime rate and weather hazards in your city or ZIP code.

The amount of coverage you need and the deductibles you choose also impact your Escanaba home insurance rates. Fortunately, many policyholders qualify for discounts if they bundle multiple insurance policies with the same insurance company. Consider bundling your car insurance or life insurance with your home insurance in order to get the best rates. 

Burglary Rate in Escanaba, MI

Escanaba is a relatively safe city, with a burglary rate that is lower than the national average. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Michigan: 3.99
  • Number of burglaries per 1,000 homes in Escanaba: 3.81

No matter where you live, you can’t take your home’s safety for granted. It’s important to take precautions to safeguard your home from burglaries, break-ins, and vandalism. And if you experience a burglary in your home, a reliable homeowners insurance policy can help you get back on your feet quickly. Home insurance helps you pay for damage to your home, as well as repairing or replacing stolen or damaged possessions. 

Catastrophic Events in Michigan

  • Number of declared disasters in Michigan: 37
  • Most common reasons for disasters in the state: Floods and Severe Storms 
  • Average number of tornadoes per year in Michigan: 14.7
  • Average amount of property damage per year in Michigan: $1,163,733,000
  • 1 in 15 insured homes has a claim each year

Escanaba is not immune to natural disasters. The most common causes of disasters in the area are floods and severe storms. The property coverage in your home insurance includes coverage for both the structure of your home and its contents (your personal possessions). It is important that you purchase a policy with adequate coverage for both, so you can rebuild your home and replace your belongings should the worst happen. 

Liability Insurance for Escanaba Homeowners

Homeowners insurance provides policyholders with liability insurance. It is designed to cover you for claims of negligence and lawsuits that you may face as a property owner. If your dog bites a neighbor, or a guest trips inside your home and is injured, you will likely be expected to pay for medical bills or other expenses related to the incident. What’s more, these types of incidents often lead to lawsuits. 

Your liability insurance pays for the injured party’s medical expenses, as well as court costs, attorney fees, and any settlements or judgments levied against you. If you have liability risks beyond what your home insurance policy can cover, talk to an independent agent about how an umbrella policy can supplement your other coverage, and offer extensive protection of your assets if you are sued. 

Second Home and Vacation Home Insurance

Houses that do not serve as primary residences have additional risk factors that may make a traditional homeowners insurance policy insufficient. If you have a Michigan hunting cabin, ski chalet, or lake home, you are likely to need second home insurance that is different from the policy you purchase for your primary residence. 

Special policies like landlord insurance for rental properties and vacant home insurance for unoccupied or seasonal homes offer better protection. But because of the varied and increased risks of second homes, this coverage may actually cost more than the coverage for your primary home. If you are an Escanaba resident who owns a second home or a vacation home, a local independent agent can help you find the customized coverage you need. 

Why Work with an Independent Insurance Agent?

Independent insurance agents are available to help you with your personal insurance needs. A local agent can answer questions about coverage, get competitive quotes, and help you make an educated choice for the policy that meets your needs and budget.  

Contact an agent in or near Escanaba to learn more. 

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com