Insurance for SFH in Michigan

11 Replies

Who is everyone using for insurance on single family homes? 

What are you paying? the quote I got today was $1200 for a SFH valued at $120K seems high, let me know your thoughts.

There's a big difference if you're insuring 1 home vs. a large portfolio both in terms of price and coverage.  Policies can differ radically in terms of what perils are covered and how claims are settled.

@Owen Rosen understood - I currently have 6 properties not all with the same insurance so maybe I can get a better deal grouping them together.

@Scott M. Marysville - 1000sqft - premises liability $1,000,000/$2,000,000 - yes Deductibles please see photo 

So 120 per square foot in Marysville, seems high.  We have a lot of clients that use NREIG.  You can go direct or call a broker like Noel Selewski in Grosse Point Park,  They will hook you up with them and many others.  Mahoney Group is another good one, just google them.  And yes, if you have 6 homes you will qualify as a portfolio for some brokers.  Some use 5 as the min. some 10.  

I would agree with you that 1200 is high given the data you shared.  



Originally posted by @Philip L. :

@Owen Rosen understood - I currently have 6 properties not all with the same insurance so maybe I can get a better deal grouping them together.

@Scott M. Marysville - 1000sqft - premises liability $1,000,000/$2,000,000 - yes Deductibles please see photo 

You may be able to get a better deal grouping them together but even more important you should have them all reviewed so that you understand the coverage before you ever need to use it.  I can tell you that the coverage quote you shared is suboptimal.

@Philip L. like everyone is saying there are multiple variables. Do you research get quotes from dependent agents and independent agents. I like independent agents as they usually have multiple companies to try your risk with and get a better rate with specialized carriers potentially. Depending where your at I like Chaz Carrillo at David Chapman in Lansing.