Warren Homeowners Insurance

Your Complete Guide to Warren, MI, Homeowners Insurance

A local independent agent can help you find the best and most affordable policy.

Warren Michigan Homeowners Insurance

Detroit’s largest suburb, Warren, is home to about 124,000 people. If you are among the many proud residents who have purchased a house in this vibrant Michigan city, you will want to be sure to protect this investment with a comprehensive and reliable homeowners insurance policy.

Independent insurance agents are ready to help you find the best coverage for your Warren home. These local agents can obtain a selection of customized quotes on your behalf so that you can choose the policy that offers the coverage you want at the most affordable price. Find an insurance agent near you to get started.

How Much Does Homeowners Insurance Cost in Warren, MI?

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

  • National average yearly premium: $1,211
  • Michigan average yearly premium: $942
  • Warren average yearly premium: $720

The average homeowners insurance rate in Michigan is lower than the national average, and in Warren, rates tend to be even lower. This is due in large part to the fact that this city is among the safest in the US when the comes to natural disasters. This is great news for area residents who are looking for an affordable policy.

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 following.

  • The age, size, and value, of your house
  • The type of house you are covering (e.g., single-family detached, mobile home, condo, townhouse, rental property, vacation house, etc.)
  • The number of stories your house has, 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

Usually, if you bundle your home insurance with other coverage such as car insurance or life insurance, insurance companies will offer each of your policies at discounted rates.

An independent agent in Warren can help you find the best home insurance policy to meet your coverage and budgetary needs and can ensure that you are receiving any discounts that you qualify for.

Warren Homeowners Insurance Covers Your Property

Homeowners insurance is designed to cover the cost to rebuild or replace your property if it is damaged by a covered event.

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

In 2018, Warren was named the safest city in the United States when it comes to natural disasters. However, homeowners should still be aware of the potential risks that can lead to costly losses.

Hazards you are most likely to face as a homeowner in Warren include property crimes, accidental fires, and severe weather events like windstorms, electrical storms, hail, heavy snows, and freezing temperatures. Fortunately, these hazards are all covered by most homeowners insurance policies.

You will want to be sure that your coverage limits for structural (dwelling insurance) and personal property (contents insurance) are high enough to allow you to fully rebuild, repair, or replace damaged property if your home is severely damaged by a catastrophic event like an accidental fire or a tornado.

What Is Loss of Use Insurance?

The risk of tornado activity in Warren is 20% higher than the national average. Hazards like tornadoes, structure fires, and lightning strikes have the potential to cause serious damage to your house.

If this damage renders your home uninhabitable, loss of use insurance, which is included in your home insurance policy, can help.

Loss of use insurance is designed to cover your temporary accommodations and meals while your house is being repaired following damage caused by a covered event.  Talk to a local independent agent to learn more about how this coverage can help you.

A Word about Flood Insurance in Warren, MI

Be aware that homeowners insurance does not cover against flood damage. This is true even if the flooding is the direct result of a covered storm.

If your house is in a FEMA-designated flood zone, you will be required by your mortgage company to carry flood insurance until your loan is paid in full. Otherwise, flood insurance is optional.

Even residents outside of flood zones are not immune to flood damage, as was evidenced in April of 2014 when 5.2 inches of rain fell on the city in a span of 13 hours. The resultant flooding left about 1,000 vehicles stranded on flooded roadways and damaged several basements throughout the area.

Flood damage can be very expensive. According to FEMA, just one inch of rainwater in your home can result in up to $25,000 in damage. A flood insurance policy may therefore be a good investment.

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 secure an affordable policy through the National Flood Insurance Program (NFIP).

Why Do Homeowners in Warren Need Liability Insurance?

Everyone has accidents and makes mistakes every once in a while. On occasion, these errors in judgment can lead to extremely expensive lawsuits. That is why homeowners insurance also provides a significant amount of personal liability coverage.

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

Let’s look at some examples of times that liability insurance can help.

  • You didn’t get time to shovel after a snowstorm and a visitor to your home slips suffers a serious back injury after slipping on an icy walkway.
  • You accidentally cause significant injuries to someone during a friendly game of basketball at Austin Dannis Park.
  • Your dog gets loose and bites a delivery person. (According to the Insurance Information Institute, dog bites account for approximately one-third of all homeowners liability insurance claims!)
  • Someone accuses you of libel or slander.

Most homeowners insurance policies offer between $100,000 and $300,000 in personal liability coverage. If you would like 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.

Talk to an insurance agent near you to learn more about your liability coverage options.

Homeowners Insurance Covers against Property Crimes in Warren

The burglary rate in Michigan is lower than the national average. However, in Warren, the risk is higher. There are about 650 burglaries reported in this city 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 Warren: 4.30

There are things you can do to lower your risk of being targeted by burglars. These include steps like keeping all entryways well-lit and unobstructed, putting your mail on hold when you are away, and using secure deadbolt locks.

The most effective theft-deterrents are home security systems, particularly those that include surveillance cameras and can make automatic calls to authorities if the alarm is triggered. That is why many insurance companies offer discounts to policyholders who have these systems installed in their homes.

It can be very difficult to deal with being the victim of a property crime. However, you may find it comforting to know that once your deductible is met, your homeowners insurance can provide you with compensation for your losses.

Be sure to contact the authorities as soon as you are aware that someone has broken into your house because you will need a copy of the police report when you file your claim.

Sometimes, particularly valuable property like heirlooms and original artwork may need to be covered with special endorsements. Your local insurance agent can help you review your policy’s contents coverage so you can be sure that your most valuable belongings are suitably covered.

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

Independent insurance agents in Warren are ready to help you find the best and most affordable homeowners insurance policy for your home. These local agents can answer your insurance-related questions and can help you be certain 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 quotes from a variety of highly rated homeowners insurance companies.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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https://www.city-data.com/city/Warren-Michigan.html
https://www.fema.gov/flood-insurance
http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance