Holland Homeowners Insurance

Your Complete Guide to Holland, MI Homeowners Insurance

Let a local independent agent help you find a great policy at a competitive price.

Holland Michigan Homeowners Insurance

The city of Holland, MI is home to more than 33,000 people. This Lower Peninsula city offers residents a variety of housing options, good schools, and 23 public parks covering 500 acres of land. If you are among the proud property owners in this lakefront city, you can protect your investment by purchasing a solid homeowners insurance policy.

Independent insurance agents can help you find the best policy to cover your Holland home. Find an insurance agent near you to learn more, and you can soon start comparing customized homeowners insurance quotes from a variety of top-rated insurers.

How Much Does Homeowners Insurance Cost in Holland, MI?

The average cost for home insurance coverage in Michigan is lower than the national average. However, in Holland, the average rate is slightly higher than the national rate.

  • National average yearly premium: $1,211
  • Michigan average yearly premium: $942
  • Holland, MI average yearly premium: $1,297

Of course, Holland has a wide range of housing options, so a policy for a multi-million dollar home will be much higher than for a small bungalow. Homeowners insurance costs are calculated on a case-by-case basis according to many factors such as:  

  • The size, age, and value of your home
  • The type of house you are insuring (e.g., single-family detached, townhouse, manufactured home, vacation home, etc.)
  • The number of stories your home has
  • The age of your roof
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your coverage with another policy like car insurance or life insurance

Comparing quotes enables you to choose the homeowners policy that offers you the coverage you want at the most competitive price. Independent insurance agents in Holland make comparison shopping easy.

What Risks Does Holland Homeowners Insurance Cover against?

Your homeowners insurance policy is designed to cover against most of the hazards you are likely to face as a property owner in Holland, Michigan. This includes a wide range of damaging events, including accidental fires, electrical storms, windstorms, hail, heavy snows, ice accumulation, and freezing temperatures.

Catastrophic events in Michigan

  • Number of federally declared disasters in Michigan: 42
  • Most common causes of disasters in the state:  Floods, severe storms, and tornadoes
  • Average number of tornadoes per year in Michigan:  16
  • Average amount of property damage per year in MI:  $897 million
  • 1 in 15 insured homes has a claim each year.

Major disasters like accidental fires can cause significant destruction to your home. You will therefore want to be sure that your dwelling (structural) and contents (personal property) coverage limits are high enough to enable you to fully rebuild and replace lost items in the event of a disaster.

What about Coverage against Floods in Holland?

It is important to be aware that homeowners insurance will not cover against damage caused by floods. Unfortunately, many residents of this city have an elevated risk of experiencing flood damage at some point during their home ownership.

If your house is located in a FEMA-designated flood zone, you will be required by your mortgage or home-equity loan provider to carry flood insurance until your loan is paid in full.

Even if you are not located within a flood plain, the risk of flood damage still exists. FEMA estimates that 20% to 25% of all flood claims are for properties outside designated flood zones.

Flood damage can be especially expensive. According to FEMA, just one inch of rainwater in your home can lead to as much as $25,000 in property damage. That is why, even if it is optional, flood insurance is a good idea.

A local independent agent can help you secure affordable coverage through the National Flood Insurance Program (NFIP). These policies can provide homeowners with up to $250,000 in structural coverage and $100,000 in contents coverage. Flood insurance does not go into effect until 30 days after it is purchased, so do not wait until heavy rains are imminent to purchase a policy.

Why Do Holland Homeowners Need Liability Insurance?

Liability lawsuits can happen to anyone. And when they do, the costs can add up quickly. Fortunately, all home insurance policies include personal liability coverage.

Homeowners liability insurance is designed to cover the various expenses that you may incur if you or someone in your household is unintentionally responsible for injuries or property damage to others. Some examples of situations in which this liability coverage can protect you include:

  • A visitor to your home slips on an icy walkway and breaks a hip.
  • You accidentally injure someone with a golf ball while hitting the links at the West Ottawa Golf Club.
  • Your child leaves the gate to your fenced-in yard open and your dog gets out and bites a neighbor.
  • Someone sues you for libel or slander.

Home insurance companies typically offer between $100,000 and $500,000 in personal liability coverage. If you wish to have even more coverage, your local insurance agent can also help you find an affordable umbrella insurance policy. Talk to an independent agent near you to learn more.

Does Holland Homeowners Insurance Cover against Burglaries?

The burglary rate in Michigan is lower than the national average, and in Holland, the rate is the same as the state average. Residents of this city report about 110 burglaries a year. 

  • Number of burglaries per 1,000 homes in the US: 3.76
  • Number of burglaries per 1,000 homes in Michigan: 3.17
  • Number of burglaries per 1,000 homes in Holland: 3.17

You may take some comfort in knowing that in the traumatic event that your house is broken into and burglarized, your homeowners insurance can reimburse you for your property losses as well as for any resultant damage to your home.

You can lower your risk of being targeted by burglars by taking precautions like keeping all doors and windows securely locked, putting lights on timers or having a friend house-sit while you are away, and making sure that your entryways are well lit and unobstructed.

Home security systems, such as those that include surveillance cameras and burglar alarms, make the most effective theft deterrents. That is why many insurance companies offer discounts to policyholders who have security systems installed in their homes. Learn more about this and any other potential discounts for which you may qualify by speaking with a local independent agent.

What about Insurance for Extra Residential Properties?

Maybe you own a vacation house in a southern state where you spend the cold Michigan winters. Or maybe you have invested in a property near Hope College that you rent out to students to make some extra income.

Regardless of their purpose, if you have more than one residential property, you will need to cover each house with an appropriate homeowner insurance policy.

Houses that do not serve as your primary residence have additional risk factors that insurance companies will take into consideration. This means that you may be required to purchase specialized home insurance products. 

  • Vacation homes that are frequently left unoccupied and unattended for long stretches of time have an increased risk of sustaining significant property damage due to risks like water leaks, animal infestation, and property crimes. Your insurer may require you to carry vacant home insurance whenever the house is not in use.
  • Rental properties have lower contents coverage needs, but higher liability and property damage risks. You can get the specialized coverage you need for your rental home with a landlord insurance policy, which is usually required by insurance companies for properties that are occupied by tenants.

An independent insurance agent can help you review the coverage needs of all your extra houses and can help you find the best and most affordable policies to insure each of them.

Why Work with an Independent Insurance Agent in Holland, MI?

The easiest way to shop for homeowners insurance is by working with a local independent agent. These agents work for you, not for a specific insurer, so you can be sure that you are getting trustworthy guidance as you shop for the best and most affordable coverage for your Holland home.

Local agents live and work in your community, so they understand the concerns you have as a homeowner in this Lower Peninsula city. Contact an insurance agent near you to get more information and to start comparing customized homeowners insurance quotes.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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https://www.city-data.com/city/Holland-Michigan.html
http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
https://www.fema.gov/flood-insurance