Waterford Homeowners Insurance

What Your Waterford, MI Homeowners Insurance Policy Needs

Find the right homeowners insurance policy for you.

For the good life in Michigan, Waterford is hard to beat. Just 45 minutes away from Detroit, it sits on the high plains enough out in the country to provide plenty of fresh air. With all the amenities close at hand away from the city, Waterford, MI is a great place to live and raise a family. While owning a home is a great investment, you need to protect it with the right insurance. 

Around Waterford, home insurance is affordable, but you have to know your options to find the policy that fits your lifestyle. That’s why your Independent Insurance Agent is important. These agents aren’t tied to one company, so they will get you multiple quotes from several agencies. You can compare and find the most affordable homeowners insurance for yourself. The weather is mild in Waterford, and the lack of devastating storms keeps home insurance costs low. These are the averages for recent years:

  • The national average was $1,034 for home insurance.
  • In Michigan, the average was only $802.
  • Michigan ranks 37th overall for homeowners insurance cost.

Every policy is as unique as your home, so your cost depends on a number of factors. A larger home is more expensive to insure simply because replacing it will cost more. The condition of your home is also important as are many other factors. There are also many things you can do to keep your liability and insurance costs low.

Second Home and Vacation Home Insurance

Some people keep a small vacation home around Waterford. Those who do should generally insure it the same way they do their primary residence. There’s no point in cutting corners because the same potential for loss exists on a second home. If you do want to save on your insurance premiums and take some risk yourself, the most common way is to skip insurance on your belongings. Often you will find that this is more expensive on a second home since no one is there all the time to keep an eye on things. It’s important to understand what risks you are taking on when you make these decisions.

Number of Thefts in Michigan

Michigan has a higher than average rate of home break-ins. The statistics from recent years are as follows:

  • Nationally, an average state had 37,814 break-ins.
  • In Michigan, there were 56,344.

You can minimize the cost of protection against theft no matter what coverage you choose with a home security service. That will help you have the lowest cost without sacrificing the insurance you will need if the worst should happen.

Number of Catastrophes in Michigan

Aside from winter storms, with its mild weather, Michigan has one of the lowest rates of catastrophes. These are the recent catastrophe statistics:

  • There were 301 official catastrophes or incidents of widespread loss.
  • There were only 9 tornadoes reported.
  • Even with this low rate, catastrophes caused $1.8 billion in damage.
  • 1 in 15 insured homes has a claim every year.

While the weather is not a serious problem in Waterford, it’s important to have the right insurance to cover you for the storms that do blow in. Though there weren’t many events, the damage was still severe, showing how expensive a large storm can be. The right coverage helps you get back on your feet quickly even when the worst happens.

What Are the Risks in Waterford?

With mild weather and a low theft rate as compared to the city, Waterford is not a city with a lot of liability risks. There are, however, many things that require additional protection based on your lifestyle and the home you live in. A trampoline, for example, can be an “attractive nuisance” that can result in people you didn’t even invite onto your property becoming injured. Your insurance needs to be there to protect you from lawsuits over things like this as well. Whatever the risks you take on, there are many things that you can do to keep your homeowners insurance costs low. It’s important to have an insurance company that you can work with.

Compare Waterford Home Insurance Quotes

You do have a lot of options when looking for the homeowners insurance that best fits your unique home. Talk to your Independent Agent today. Not tied to one company, your agent will get you the quote for your home at the most affordable price.

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