Taylor Homeowners Insurance

Your Complete Guide to Taylor, MI, Homeowners Insurance

An independent agent can help you find the coverage you need at a price you can afford.

Taylor Michigan Homeowners Insurance

Taylor, MI, is home to about 63,000 people. With its many parks and attractions, affordable housing, and a convenient location, this Downriver community is a great place to purchase a home. Of course, owning a house is not without its risks. That’s why homeowners insurance can be very beneficial.

When you are looking for the best insurance coverage for your Taylor home, a local independent agent can help. These agents work with a variety of top-rated insurance companies so they can help you find a solid policy at a great price. Contact an insurance agent near you to start comparing customized homeowners insurance quotes.

How Much Does Homeowners Insurance Cost in Taylor, MI?

Average home insurance rates in the state of Michigan are lower than the national average. And, in Taylor, the rates are even lower. This is great news for Taylor homeowners who are looking for affordable coverage.

  • National average yearly premium: $1,211
  • Michigan average yearly premium: $942
  • Taylor average yearly premium: $804

Your actual home insurance quotes are likely to differ a bit from the average rate listed above. This is because costs are calculated on a case-by-case basis and can depend on several factors such as the following. 

  • The age, size, and value of your home
  • The materials used in your home’s construction
  • The age of your roof
  • The type of house you are insuring (e.g. single-family home, townhouse, mobile home, rental property, vacation home etc.)
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The size of your deductible

When you bundle your home insurance with another policy like car insurance or life insurance, you can typically receive rate reductions on each of your policies.

Obtaining and comparing homeowners insurance quotes from a few competing providers can help you be sure you are getting the coverage you want at a great price. Independent insurance agents make comparison shopping easy.  

What Are the Risks Faced by Homeowners in Taylor?

Your home insurance policy is designed to cover against damage caused by most of the risks you may face as a homeowner in Taylor.

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

You can expect your policy to include coverage against hazards like accidental fires, property crimes, and severe weather events like electrical storms, windstorms, tornadoes, hail, heavy snows, and freezing temperatures.

A Word about Flood Insurance in Taylor

Be aware that homeowners insurance does not cover against flood damage. Some parts of Taylor are located in FEMA-designated flood plains. However, when heavy rains fall, drainage systems can be overwhelmed and flooding can occur just about anywhere in this city, even outside of flood zones.

If you hold a mortgage that is a federally insured loan and your property is located with a 100-year regulated flood plain, you will be required to supplement your homeowners insurance with a flood insurance policy. Otherwise, this coverage is optional. 

Bear in mind, however, that according to FEMA, as little as one inch of rainwater in your home can result is as much as $25,000 in property damage. So whether or not the coverage is required, it usually a good idea to have.

A local independent agent can help you evaluate your flood risk and, at your request, can set you up with an affordable flood insurance policy through the National Flood Insurance Program (NFIP).

What Is Loss of Use Insurance?

Tornado activity in the Taylor area is 40% greater than the national average. One of the worst to strike in the area was an F4 twister that touched down just 2.6 miles from the Taylor city center during the tornado outbreak sequence of 1956.

A major catastrophe like a tornado or a structure fire has the potential to leave your home uninhabitable. Fortunately, in addition to covering your property losses, homeowners insurance provides loss of use insurance.

Loss of use insurance covers your temporary living expenses such as hotel accommodations and meals if you must seek alternative housing while your home is repaired following a covered event.

To learn more about this coverage, you can speak with a local insurance agent.

Why Is Liability Insurance Important for Taylor Homeowners?

In addition to covering your house and personal property, your homeowners insurance also provides you with personal liability protection.

Homeowners liability insurance is designed to cover expenses such as court costs, legal defense fees, and financial damages if you or someone in your household unintentionally causes someone else to experience injuries, property damage, or financial losses.

Examples of times that you might need your homeowners liability insurance include the following.

  • If a neighbor’s child is seriously injured when he falls out of the treehouse you have built for your kids
  • If you accidentally cause someone significant injuries during a friendly game of tag football at Boardman Park
  • If your dog escapes and bites a delivery person
  • If someone accuses you of libel or slander

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

Talk to your insurance agent to learn more about what homeowners liability insurance can do for you.

Does Taylor Homeowners Insurance Cover against Burglaries?

The burglary rate in Michigan is lower than the national average, but in Taylor, the risk is higher. Residents of this city report about 300 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 Taylor: 4.52

The good news is that homeowners insurance can reimburse you for your losses if your house is broken into. Of course, the better alternative is to do what you can to avoid being robbed in the first place.

Home security systems that include alarms and surveillance cameras make excellent theft deterrents. In fact, many homeowners insurance companies offer discounts to policyholders who have installed them and other theft prevention devices in their houses.

Your local insurance agent can help you make sure that all of your most valuable property is suitably covered. Also, at your request, these agents can assist you throughout the claims process if you are the victim of a property crime.

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

When you are looking for the best and most affordable coverage for your home, independent agents in Taylor are available to answer your insurance-related questions and provide you with trustworthy guidance and advice.

Because they are free to work with several competing insurance providers, independent agents can quickly provide you with a variety of customized quotes. That way, you can choose the policy that offers the coverage you want at the lowest offered price.

Contact an insurance agent near you to get started.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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