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Homeowners Insurance in Glen Arbor, MI

Home insurance is essential for all homeowners to have. Home insurance helps pay for losses and damage to your property if something unexpected happens, like a fire or burglary. It can also provide personal liability coverage.

What Does Home Insurance Cover?

A homeowners insurance policy typically includes a minimum of the following four types of coverages:

1. Dwelling coverage

2. Personal belongings coverage

3. Liability coverage

4. Additional living expenses coverage

Policies vary, but homeowners insurance typically covers losses from the following perils:

  • Fire
  • Lightning
  • Smoke
  • Windstorms
  • Hail
  • Explosions
  • Theft
  • Vandalism
  • Falling objects
  • Riots
  • Damage from vehicles

How Much Does Home Insurance Cost?

Homeowners insurance costs vary greatly depending on several factors, including:

  • The home’s location
  • The price of the house and the cost to rebuild it
  • Coverage types, limits and deductibles
  • The house’s age and condition
  • Home security and safety features
  • The buyer’s credit history

How Much Home Insurance Do I Need?

If an unexpected incident occurs, you’ll generally want enough insurance to help cover the cost of rebuilding or repairing your home. You may also need coverage to replace or repair your belongings, protect yourself against liability claims, and cover living expenses if you cannot live in your home while repairs are made. Discuss your coverage needs with a trusted insurance provider to better understand your options.

Is Homeowners Insurance Paid in Advance?

If you pay your homeowners insurance directly and not through an escrow account, you can typically pay monthly, quarterly, semiannually or annually. However, your lender may require you to have an escrow account to help ensure there are enough available funds to pay for your insurance. Payments to an escrow account are typically part of your monthly mortgage payments and then your mortgage lender will generally pay for your insurance on a yearly basis.

Do I Buy Homeowners Insurance Before Closing?

Most mortgage lenders will require proof of homeowners insurance before you can close on your home. You typically should start shopping around for a homeowners insurance policy when you sign a contract to buy a home.

Home Insurance Quote in Glen Arbor, MI

If you are ready for a home insurance quote, contact Devette & Ford Insurance Agency, Inc. We have been serving the people of Northern Michigan for over 100 years. We can help protect your most valuable assets.

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