What You Need to Know About

Homeowners Insurance

Every new homeowner needs to purchase Homeowners Insurance, but just because you need it, doesn't mean you don't have questions about it! We're here to clear up all those questions so that you find the right coverage, pay the right price, and are on your way to being a happy homeowner in Ann Arbor, MI!


What is Homeowners Insurance?

It’s a necessity—and usually a mortgage requirement—as it protects your very valuable investment in the case of various disasters, accidents, emergencies, or break-ins that cause damage to your home or property.

What is covered by Homeowners Insurance?

Homeowners Insurance will cover the cost of repairs to your home or the replacement of your belongings in the case of an unforeseen disaster, but it also protects your liability in the case of accident or injury to persons on your property.

Most damage to your home and property is covered by Homeowners Insurance, though there are exceptions for certain natural disasters including floods and earthquakes. Homeowners Insurance does not cover maintenance-related problems.

What affects my monthly premium for Homeowners Insurance?

  • Your home. The size, style, structure, and age of your home will all affect how much your home costs to protect. Older homes often cost more, as older wiring, plumbing, roofing, and structure can be more prone to damage.
  • Your location. Everything from the weather to your proximity to a fire station can affect your monthly premium. The safer the location, the lower the premium. Gated neighborhoods, neighborhoods with active HOA’s, and communities with high safety ratings will all be less expensive to ensure.
  • Your safety. Smoke alarms, sprinklers, burglar alarms, fire extinguishers… all these can lower your monthly premium. However, simply being a smoker can raise your monthly premium.
  • Your history. Yes, your habits and history can affect your premiums. Good credit history, a claims-free history, even your age and how much time you spend at home can all affect your monthly premiums.

How can I save money on my Homeowners Insurance?

There are actually a lot of ways you can lower that monthly premium.

  • Update your home. On older homes, installing new wiring or plumbing can help make your home less prone to fire and water damages. Installing burglar alarms that ring directly to the police station or sprinkler systems can also lower your bills. Upgrading your roof with impact-resistant materials can yield lower payments. Even updating your heating and cooling systems can make your home safer.
  • Keep your record clean. Avoid making small claims that you can pay for out of pocket as these can ultimately lead to higher monthly bills.
  • Bundle and save. Even if it means switching companies, it’s a good idea to bundle auto and home insurance together, as this can lead to big discounts.
  • Pay annually instead of monthly.
  • Call and ask. Call your agent and ask if there are any special discounts your company offers that might benefit you!


Still Have Questions or Ready to Get Started?

Then it's time to contact Missy Caulk and Team! We're here to answer all of your homebuying questions so you can find the perfect home in just the right location of Washtenaw County, MI. Let's get started today!

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