Royal Oak Homeowners Insurance

Let a local independent agent help you find the best and most affordable coverage.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Michigan Homeowners Insurance

Your home is one of the largest investments you will make in your lifetime. If you are among the proud homeowners in the Detroit suburb of Royal Oak, you will want to be sure to protect your investment with a solid homeowners insurance policy. That way, if disaster strikes, you can be compensated for your losses.

Independent insurance agents in Royal Oak can help you obtain and compare a selection of customized homeowners insurance quotes so that you can find the policy that best meets your coverage and budgetary needs. Find an insurance agent near you to get started.

How Much Does Homeowners Insurance Cost in Royal Oak, MI?

To get an idea of how much a policy will cost you, let’s look at some average rates:

  • National average yearly premium: $1,211
  • Michigan average yearly premium: $942
  • Royal Oak average yearly premium: $1,080

The average homeowners insurance rate in Michigan is lower than the national average. In Royal Oak, average rates are slightly higher than the state rate, but still lower than that national rate. Comparing costs from a few providers enables you to get your coverage at a competitive price.

Of course, your quoted costs are likely to vary from the figures listed above because home insurance rates are based on several factors such as:

  • the age, size, and value, of your house
  • the type of home you are covering (e.g., single-family detached house, manufactured home, townhouse, vacation house, etc.)
  • the number of stories in your house, and whether it has a basement
  • the crime rate and weather risks in your ZIP code
  • the amount of property coverage you want to purchase
  • your claims history and credit score
  • the amount of your deductible

If you bundle your home insurance with other policies such as car insurance or life insurance, you can usually get all of your bundled policies at discounted rates.

An independent agent in Royal Oak can help you find the best home insurance policy to meet your coverage and budgetary needs.

Royal Oak Homeowners Insurance Covers Your Property

The tornado risk in Royal Oak is 31% greater than the national average. One of the worst to affect this city was an F4 twister that touched down less than two miles from the Oak Park city center in 1957. If a tornado hits your home, will you have enough coverage to fully rebuild and replace your property?

Homeowners insurance is designed to cover loss or damage to the structure of your home (covered by dwelling insurance) as well as to the personal property you keep inside it (covered by contents insurance).

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
  • Avg. number of tornadoes per year in Michigan: 16
  • Avg. amount of property damage per year in MI: $897 million
  • 1 in 15 insured homes has a claim each year

In addition to tornadoes, homeowners in Royal Oak are most at risk for property loss or damage caused by property crimes, windstorms, electrical storms, hail, heavy snows, and freezing temperatures.

Be aware that home insurance does not cover against flood damage. This is true even if the flooding is the direct result of a covered storm. Fortunately, you can supplement your homeowners policy with flood insurance.

A local independent insurance agent can help you evaluate your flood risk. If you believe that flood insurance is a good idea, your agent can help you obtain an affordable policy through the National Flood Insurance Program (NFIP).

Why Do Homeowners in Royal Oak Need Liability Insurance?

Homeowners insurance does more than just cover your property. It also provides you with a significant amount of personal liability insurance. This is important because accidents happen and can sometimes result in lawsuits.

Homeowners liability insurance is designed to cover expenses like court costs, legal fees, and damages if you or someone in your household is unintentionally responsible for other people’s injuries, property damage, or financial losses.

Examples when you may need to use this liability coverage include:

  • A guest slips on ice on your walkway while approaching your home and suffers a serious back injury.
  • You accidentally hit someone in the head with a disc while playing frisbee golf at Starr Jaycee Park.
  • Your dog gets loose and bites a pedestrian.
  • Somebody accuses you of libel or slander.

Most homeowners insurance policies offer between $100,000 and $300,000 worth of personal liability coverage. If you want to have even more liability coverage than your home insurance company can provide, an independent agent can also help you secure an affordable umbrella insurance policy.


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Homeowners Insurance Covers against Property Crimes in Royal Oak

The burglary rate in Michigan is lower than the national average, and in Royal Oak, it is even lower. This does not mean that risk does not exist. The city averages about 75 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 Royal Oak: 1.08

If your home is broken into, the first thing you should do is ensure that you and your family are safe, and then contact the authorities.

Your homeowners insurance can reimburse you for your property loss as well as for damages the burglar may have caused. You will need to have a copy of the police report when you file a claim.

Home security systems are very effective at lowering your risk of being targeted by burglars. That is why many insurance companies offer discounts to policyholders who use them.

Your local insurance agent can make sure that you receive any discounts for which you may be entitled and can help you review your policy’s contents coverage to be certain that your most valuable belongings are fully covered.

What about Insurance for Second Homes and Vacation Homes?

If you are among the Royal Oak residents who own more than one house, your extra property will most likely have additional risk factors that insurance companies will take into consideration when they calculate your rates. In many cases, you may be required to purchase specialized home insurance coverage.

For instance, if you own a multifamily house nearby in Detroit that you rent out to young families, your liability and property damage risks for this house will be higher than they are for your primary residence. Landlord insurance offers the right blend of coverage for these properties and may be required by your insurance company if the home is occupied by tenants.

Or, if you own a cabin that you and your family use to get away from it all, this property may have greater risks of sustaining damage due to weather and property crimes. If your second home is frequently left unoccupied and unattended, your insurance provider will likely require you to carry vacant home insurance during the times that the property is not in use.

A local insurance agent can help you review the coverage needs of any extra residential properties you may own and can help you find the best home insurance coverage to protect them.

Why Work with an Independent Insurance Agent in Royal Oak, MI?

Independent insurance agents can help you find the best and most affordable homeowners insurance. These local agents understand the risks you face as a property owner in Royal Oak, and they are available to answer your insurance-related questions as well as help you be sure that your property is sufficiently covered.

Contact an insurance agent with an office near you to learn more. You will soon discover how easy it can be to review customized, competitively priced policies and quotes from a variety of top-rated homeowners insurance providers.

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