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Annual homeowners insurance premiums in Michigan have been on the rise this decade because of increased flood claims and higher rebuilding costs. Homeowners have seen their premiums rise 85%. This trend makes it more vital than ever that you take time to shop around for homeowners insurance and make sure you're paying the lowest possible price. Keep Your Insurance Costs Down To keep your homeowner insurance costs as low as possible, follow these tips: * Set your coverage limits high enough to protect you, but not higher than your home and belongings are worth. To get accurate numbers, take an inventory of your belongings and call a realtor or builder to get an estimate of how much it would cost to rebuild your home. * Set your deductible as high as you can afford. The deductible is the amount you pay on a claim before the insurance starts to pay. If you can afford $500 or even $1,000 out of pocket, set your deductible at that level and you'll save 15% to 25% on your yearly premium. * Get all the discounts you can. Michigan homeowners insurance companies typically offer discounts for non-smokers, for having multiple policies with the same company, for installing security features, and a host of other discounts. Ask if they offer any other discounts you might qualify for and include them in your policy. Shop Around for Insurance Did you know that over 100 insurance companies offer homeowners insurance in Michigan? These insurance companies compete with each other to provide the lowest rates and the best service. Their rates can vary dramatically from one company to the next, which means you can save hundreds of dollars a year just by comparison shopping. The best way to comparison shop for Michigan home insurance is to visit an insurance comparison website. At an insurance comparison website you fill out a form with information about yourself, the home you're insuring, and your insurance needs (such as your limits and deductibles). You then receive quotes from multiple A-rated insurance companies, allowing you to easily compare the quotes and choose the company with the lowest rate. The best insurance comparison websites even have a chat feature, so if you have any questions about homeowners insurance, you can get accurate, timely answers from trained insurance professionals. http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get Michigan homeowners insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips there. The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles on Michigan homeowners insurance.
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