Rochester Hills Homeowners Insurance

Your Complete Guide to Rochester Hills, MI, Homeowners Insurance

(Make sure your home and your property are adequately covered)

The affluent city of Rochester Hills, MI, is home to more than 70,000 people. This Detroit suburb has a lot to offer its residents including great schools, well-maintained parks, and a low crime rate. If you own a house in this historic city, a reliable homeowners insurance policy can help to protect your investment.

When you are shopping for the right insurance coverage for your Rochester Hills home, a local independent agent can provide assistance and advice. If you are ready to start comparing customized homeowners insurance quotes, contact an insurance agent near you.

How Much Does Homeowners Insurance Cost in Rochester Hills, MI?

Home insurance rates in the state of Michigan are lower than the national average, but some people are still overpaying for their coverage. Comparing a variety of quotes can help you make sure you are getting your homeowners insurance at a competitive price. Independent insurance agents can help.   

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

Your actual home insurance quotes are likely to differ from the average rate listed above. This is because costs are calculated on a case-by-case basis and can be based on several factors including: 

  • The size of your home, the year it was built, and the materials used in its construction
  • The type of home you are insuring (e.g., single family detached house, multi-family home, condo, vacation home, etc.)
  • The crime rate and weather risks in the ZIP code where your house is located
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your homeowners coverage with other policies like car insurance  or life insurance

Comparing rates lets you choose the homeowners insurance policy that offers the best price for the coverage you want. Independent insurance agents in Rochester Hills make comparison shopping easy.

What Are the Risks Faced by Homeowners in Rochester Hills?

Your home insurance policy is designed to cover against most of the damaging risks you are likely to face as a homeowner in Rochester Hills.

Catastrophic Events in Michigan

  • Number of federally declared disasters in Michigan: 41
  • Most common causes of 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 MI: $1.16 billion
  • 1 in 15 insured homes has a claim each year

You can expect your policy to include coverage against hazards like accidental fires, property crimes, strong winds, severe storms, tornadoes, heavy snows, and freezing temperatures.

You will want to be sure that your dwelling (structural) and contents (personal property) coverage levels are high enough to enable you to repair, rebuild, or replace in the event of a catastrophic event.

A Word about Flood Damage in Rochester Hills, MI

It is important to be aware that flood damage is not covered by homeowners insurance. According to the Federal Emergency Management Agency (FEMA), just one inch of water in your home can cause as much as $25,000 in damage.

Floods pose a very real risk in Rochester Hills, especially for residents with properties near the Clinton River. Those whose houses are located in designated flood zones are required by their lenders to supplement their home coverage with flood insurance until their mortgages are paid in full.

Keep in mind, however, that FEMA reports that more than 20 percent of the flood claims filed are for properties that are not located within designated flood zones. Therefore, whether or not it is required, this coverage can prove invaluable.

Talk to your local insurance agent for help securing an affordable flood insurance policy.

Why Is Liability Insurance Important for Rochester Hills Homeowners?

In addition to covering your house and its contents, homeowners insurance also provides you with liability protection. This liability insurance is designed to cover expenses such as court costs, legal fees, and financial damages if you are sued for any of a number of common covered events.

Examples of times your homeowners liability insurance can cover you include:

  • if a visitor is severely injured while on your property
  • if your child or pet causes significant injuries or property damage to someone outside your household
  • if you are accused of libel or slander
  • if you accidentally cause serious injuries to another while away from home, such as while playing a friendly game of basketball at Borden Park

If you want more liability coverage than your home insurance can provide, an independent insurance agent can also help you purchase an affordable umbrella insurance policy. Talk to your insurance agent to learn more about what homeowners liability insurance can do for you.

Does Rochester Hills Homeowners Insurance Cover against Burglaries?

The burglary rate in Michigan is lower than the national rate; and in Rochester Hills the risk is even lower, which can help insurance rates stay affordable. Residents of this city report only about 50 burglaries every year.

  • 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 Rochester Hills: 0.63

In the unlikely event that you are the victim of a burglary, your homeowners insurance can reimburse you for your losses as well as for any resultant damages to your home.

Be sure to keep a copy of the police report because you will need it when you file a claim. Your local insurance agent can offer guidance and support throughout the claims process if you need assistance.

What about Insurance for Second Homes and Vacation Homes in Rochester Hills?

Maybe you own a winter vacation house in a warmer climate. Or perhaps you have a house that you rent out to students at Oakland University. Regardless, if you own more than one house, your extra properties can have additional insurance considerations and may require specialized coverage. For example:

  • Vacation homes that are left unoccupied for several months out of the year have an increased risk of sustaining significant property damage due to severe weather events, animals, and property crimes. These houses will typically need to be covered by vacant home insurance during the times that they are not in use.
  • Second homes that serve as rental properties have higher liability and property damage risks, but these properties require less in the way of contents coverage. Landlord insurance provides the right balance of coverage for rental homes and may be required by your insurance provider if your property is occupied by tenants.

Talk to an independent insurance agent for help finding the best and most affordable policies to appropriately cover all of your residential properties.

Why Work with an Independent Insurance Agent in Rochester Hills, MI?

Independent agents in Rochester Hills make it easy to find the best homeowners insurance policy. These agents can answer your insurance-related questions and can offer trustworthy guidance and advice when you are shopping for coverage.

Also, because independent agents are free to work with several different insurance companies, they can do the comparison shopping for you. That way, you can be sure that you are getting the coverage you need at a competitive price.

Contact an insurance agent in or near Rochester Hills to learn more. You can soon be comparing customized home insurance quotes from an assortment of highly rated insurance providers.

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