In Michigan, I do not think there is one single company that provides the most affordable homeowners insurance.
The reason I say this is individual rates are based upon your insurance score, zip code, condition of home and other applicable discounts.
Another factor is the insurance companies current financial state. If the company is profitable, then they will not be hiking up its rates.
The moral of the story is you should shop around. I recommend talking to an independent insurance agent and getting quotes from a few regional carriers (e.g. Home-Owners, Frankenmuth, Citizens, Michigan Millers and etc.). If their rates seem unreasonable, then check out some larger national carriers like Allstate, Nationwide or Farmers.
I agree with Drew with a few additions. Rates do vary and different people may get very different rates from the same company. In my experience, you'll find that many companies are within 10-20% of each other and it's hard to choose based on the rate alone. My advice is to find the right agent first. If you choose based on who has the lowest rate, you'll be changing a lot. When you find an agent that cares about covering you correctly instead of just selling the lowest rate, you've found your agent. Spend more time finding the right agent and you'll be happy. They may not always be the lowest, but they'll save you big in the long run.
We're always bombarded with ads from insurance companies telling you they have the lowest rate. They're selling you on the idea that insurance is a commodity, that everybody has the same thing, so look for the lowest price. Nothing could be further from the truth. Professional agents and advisors are out there and they care about their clients more than just the commission they earn. Find someone who loves their agent and go talk with them. I've never had a client complain that their rates are too high after they've had a claim and they were made whole again. I've been out there at 2am when my client's house just burned to the ground. I didn't do it because I earned a commission, I did it because these are my clients and I love what I do. So, make your life easier and find an agent who cares.
Do you buy running shoes for a marathon form Wal-Mart????
Do you buy a 4 cylinder truck to pull a trailer that really demands a V8?
My point is, "WHO CARES who has the cheapest". Yes, there is a way to assess apples to apples when buying home insurance. Red vs. green apples. There are always some differences in policies. However, in my state, there is a vast difference in plans offered. You are buying something to guard your finances in the event of the loss of your home, valuables, or retirement (that's called Liability Coverage folks).
BUY THE MOST you can reasonably afford. I did a quote once and for curiosity I raised our "in house standard amount of liability" form 300K to 500K (the next step up for that carrier)... What did I see???? A ONE DOLLAR difference... Yes... ONE dollar. $200,000 more in coverage for a buck. That doesn't happen for everyone and every carrier. Yet it's almost always less than $10 a month. WOW... 200K more for $10 a month.... You'll pay the price if you buy on price. -gravy
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The reason I say this is individual rates are based upon your insurance score, zip code, condition of home and other applicable discounts.
Another factor is the insurance companies current financial state. If the company is profitable, then they will not be hiking up its rates.
The moral of the story is you should shop around. I recommend talking to an independent insurance agent and getting quotes from a few regional carriers (e.g. Home-Owners, Frankenmuth, Citizens, Michigan Millers and etc.). If their rates seem unreasonable, then check out some larger national carriers like Allstate, Nationwide or Farmers.
I hope this helps.
We're always bombarded with ads from insurance companies telling you they have the lowest rate. They're selling you on the idea that insurance is a commodity, that everybody has the same thing, so look for the lowest price. Nothing could be further from the truth. Professional agents and advisors are out there and they care about their clients more than just the commission they earn. Find someone who loves their agent and go talk with them. I've never had a client complain that their rates are too high after they've had a claim and they were made whole again. I've been out there at 2am when my client's house just burned to the ground. I didn't do it because I earned a commission, I did it because these are my clients and I love what I do. So, make your life easier and find an agent who cares.
Do you buy a 4 cylinder truck to pull a trailer that really demands a V8?
My point is, "WHO CARES who has the cheapest". Yes, there is a way to assess apples to apples when buying home insurance. Red vs. green apples. There are always some differences in policies. However, in my state, there is a vast difference in plans offered. You are buying something to guard your finances in the event of the loss of your home, valuables, or retirement (that's called Liability Coverage folks).
BUY THE MOST you can reasonably afford. I did a quote once and for curiosity I raised our "in house standard amount of liability" form 300K to 500K (the next step up for that carrier)... What did I see???? A ONE DOLLAR difference... Yes... ONE dollar. $200,000 more in coverage for a buck. That doesn't happen for everyone and every carrier. Yet it's almost always less than $10 a month. WOW... 200K more for $10 a month.... You'll pay the price if you buy on price. -gravy