Trying to find a comprehensive Michigan homeowners insurance policy that offers you all of the coverage you’re expecting without threatening to break your bank account in the process is a lot more challenging than most people understand it to be.
Contrary to popular belief, Michigan homeowners insurance companies like https://michigan-insurance.website/michigan-homeowners-insurance/ are out to help you save as much money has humanly possible – they are out to build a profitable business, first and foremost.
Understanding this, and taking advantage of the tips and tricks we have for you below, you’ll be able to better negotiate for the best possible Michigan homeowners insurance available at prices that you are comfortable painting.
Let’s jump right in!
Shopping around isn’t as straightforward as it might seem on the surface
It’s always important to shop around for different Michigan homeowners insurance quotes, but you need to really try and focus in on making this process as valuable as it can be.
You don’t want to only focus in on the prices of the insurance that you would be asked to pay with each quote, but instead look at the totality of the coverage compared to the price to figure out just how valuable it is.
This is going to take a little bit more time in the long run, but it’s going to save you a ridiculous amount of money along the way.
“Preventative medicine” on your home can reduce Michigan homeowners insurance costs dramatically
Secondly, you’ll want to know that there are all kinds of “preventative medicine” style things you can do to dramatically reduce the amount of money you have to spend on Michigan homeowners insurance premiums.
Installing a new burglar alarm, installing new smoke detectors, and integrating all kinds of other “upgrades” throughout your home can sometimes reduce the amount of money that you spend on insurance by up to 20% (or more).
You have to be crazy not to take advantage of these discounts.
You ALWAYS need to go for replacement coverage and not market value protection
Finally, you’ll want to be sure that you are taking advantage of replacement cost homeowners insurance and not market value cost homeowners insurance. Replacement cost protection will give you a blank check to cover the entire replacement of your home, where is market value will simply cut you a check for what comparable homes are worth in that particular market.
Replacement cost will always guarantee that you have a new home built to replace your old one, whereas market value (depending upon the health of the real estate market in your area) might leave you high and dry and out hundreds of thousands of dollars.