Midland Homeowners Insurance

Your Complete Guide to Midland, MI Homeowners Insurance

A local independent insurance agent can help you find the best policy.

Midland Michigan Homeowners Insurance

Midland is home to more than 41,000 people. Many find this Michigan city to be a great place to buy a home and raise a family, thanks to its safe and quiet neighborhoods, great schools, well-maintained parks and recreation facilities, and a strong sense of community.

If you are among the proud property owners in this vibrant city, you can protect your investment with a solid homeowners insurance policy.

Local independent agents can help you find the best and most affordable coverage for your Midland home. Contact an insurance agent near you to start comparing customized homeowners insurance quotes.

How Much Does Homeowners Insurance Cost in Midland, MI?

The average cost of homeowners insurance in this state is lower than the national average, and in Midland, where weather risks and crime rates are rather low, rates tend to be even less expensive.

  • National average yearly premium: $1,211
  • Michigan average yearly premium: $942
  • Midland average yearly premium: $782

Of course, your actual homeowners insurance quotes are likely to be different from these average rates. This is because costs are calculated individually according to several factors such as:

  • The age, size, and value of your home
  • The number of stories in your house and whether it has a basement
  • The materials used in your home’s construction
  • The age of your roof
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The size of your deductible
  • Whether you are bundling your coverage with other policies like car insurance or life insurance

Every insurance company has its own way of assessing risk and calculating rates, so comparing a variety of quotes enables you to choose the policy that offers the coverage you need at the most affordable price. Independent insurance agents in Midland make comparison shopping easy.

What Types of Damage Are Covered by Midland Home Insurance?

Home insurance policies are designed to cover your property against loss or damage caused by most of the hazards you are likely to face as a property owner in Midland, Michigan.

Dwelling insurance covers the structure of your house, while contents insurance covers the personal property you keep inside it.

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.

Midland residents are most at risk for damage caused by accidental fires and severe storms, including windstorms, electrical storms, and tornadoes. Additionally, heavy snowfalls and freezing temperatures have the potential to damage your roof and gutters or to cause water pipes in your home to burst.

Fortunately, each of these hazards is covered by most home insurance policies. Flood damage, however, is another story.

What about Coverage against Floods?

Homeowners property insurance specifically excludes flood damage from its coverage. Because of this, the only way to cover against floods is by purchasing a separate flood insurance policy.

In May 2020, Midland residents experienced unprecedented flooding when heavy rains caused water levels to rise in the Tittabawassee and Tobacco rivers, and the Edenville and Sanford dams were breached. In this city, floodwaters destroyed 50 houses and severely damaged another 1,647. Unfortunately, many of those affected did not have flood insurance and were therefore not covered.

If your property is in a FEMA-designated floodplain, your mortgage company will require you to carry flood insurance until your home loan is paid in full. Otherwise, this insurance is optional. Regardless of whether it is required, it is a good idea for most property owners.

A local independent insurance agent can help you supplement your homeowners insurance with an affordable flood insurance policy through the National Flood Insurance Program (NFIP). These policies take 30 days to go into effect, so do not wait until heavy rains are imminent to purchase your policy.

Why Is Liability Insurance Important for Midland Homeowners?

Liability lawsuits can happen to anyone. That is why homeowners insurance provides personal liability insurance as a standard part of every policy.

Homeowners liability insurance is designed to cover court costs, legal fees, and financial damages if you or someone in your household is unintentionally responsible for property damage or injuries to others.

Chances are good you’ll never need to use this insurance, but if you find yourself in a situation where you need it, you’ll be glad it’s there. Some examples of times your homeowners liability coverage may prove invaluable include:

  • If a visitor to your home is badly injured in an accident that can be attributed to negligence of upkeep on your part, such as if loose carpeting on your stairwell causes someone to fall.
  • If you accidentally hit someone with a golf ball while enjoying a day at the Midland Country Club.
  • If your dog manages to get out of your fenced-in yard and bites a neighbor. Dog bites account for nearly one-third of all homeowners liability insurance claims.
  • If someone accuses you of libel or slander.

Most homeowners insurance companies offer between $100,000 and $300,000 in personal liability coverage. If you want to have even more liability coverage than your home insurance will provide, your local insurance agent can also help you find an affordable umbrella insurance policy.

Talk to a local independent insurance agent to learn more about what homeowners liability insurance can do for you.

Does Midland Homeowners Insurance Cover against Burglaries?

The burglary rate in Michigan is lower than the national rate, and in Midland, the rate is very low. This is not to say that the risk does not exist. Residents of this city report about 40 burglaries every 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 Midland: 0.86

If your home is targeted by burglars, you may gain some peace of mind from knowing that your homeowners insurance can reimburse you for lost or damaged property. You will need to have a copy of the police report when you file a claim.

If you own any particularly valuable possessions, such as a collection of fine art, you may need to add special endorsements to your homeowners insurance policy for them to be fully covered. A local independent insurance agent can help you be sure that all of your belongings are properly insured.

Also, because they are so effective at preventing burglaries, many insurance companies offer discounts to policyholders who have home security systems in their houses. Your insurance agent can explain more about this and other potential discounts when helping you find the best and most affordable homeowners insurance policy for your Midland home.

What about Midland Residents with Second Homes?

Some people in Midland own more than one house. Whether you own a vacation home that you can use when you need to get away, or you earn extra income by renting out a house nearby, you will need to be sure that all your properties are covered by appropriate insurance policies.

In some cases, you may be required to purchase specialized home insurance coverage. 

  • Vacation homes that are left empty and unattended for long periods have an increased risk of property damage due to risks like severe weather events, animal infestations, slow water leaks, and property crimes. Your insurance company may require you to have vacant home insurance during the times your vacation house is unoccupied.
  • Rental properties have higher liability risks and an increased chance of sustaining serious structural property damage. On the other hand, they have lower contents coverage needs, since your tenants need to cover their own property with renters insurance. Landlord insurance offers the perfect blend of coverage for rental properties and is usually required by insurance companies for houses that are occupied by tenants.

A local independent insurance agent can help you be sure that all of your residential properties are suitably covered.

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

The easiest way to find the best and most affordable insurance coverage for your Midland home is by working with a local independent agent. These agents work for you, not for a specific insurance company, so they are free to shop around to help you find reliable coverage at a competitive rate.

Find an independent insurance agent with an office near you to schedule a one-on-one consultation. You will be able to start comparing customized homeowners insurance quotes in no time.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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