Cheapest Homeowners Insurance in Michigan (2024 Rates)

In Michigan, home insurance rates vary as providers cater to diverse needs. Auto-Owners Insurance is the cheapest provider in Michigan overall. However, ASI is the most affordable option for those with poor credit.

The most affordable home insurance provider in Michigan is** Auto-Owners Insurance**, charging an average of $264 per year for $100K in dwelling coverage. Changing your dwelling coverage limits can significantly impact insurance rates, however.

Auto-Owners Insurance also consistently ranks as the cheapest home insurance option for different coverage levels in Michigan.

See how their rates change by dwelling coverage:

• Cheapest for $100,000: Auto-Owners Insurance at $264 per year
• Cheapest for $250,000: Auto-Owners Insurance at $300 per year
• Cheapest for $500,000: Auto-Owners Insurance at $371 per year

Discover more about cheap home insurance options with MoneyGeek's table and see how dwelling coverage can shape costs.

In Michigan, securing budget-friendly home insurance is best achieved by collecting quotes from various insurers. MoneyGeek’s home insurance calculator streamlines this process, allowing you get home insurance quotes in Michigan quickly without the immediate need for your personal information.

If you own a high-value home in Michigan and need higher dwelling coverage limits, Auto-Owners insurance is the cheapest option, costing $423 per year. Homeowners with high-value homes usually incur higher insurance costs due to dwelling coverage, the principal cost driver.

For high-value homes, Auto-Owners Insurance is the cheapest option all around. See how their costs change by dwelling coverage:

• Cheapest for $750,000: Auto-Owners Insurance $423 per year
• Cheapest for $1,000,000: Auto-Owners Insurance $555 per year

When selecting dwelling coverage limits, make sure to select a limit that matches your home's replacement cost, rather than the property value, to avoid under- or over-insuring. Explore costs for varying dwelling coverage using MoneyGeek's home insurance table below.

The cheapest home insurance company in Michigan for new homes is Auto-Owners Insurance, with an annual premium of $249 for $100K in dwelling coverage. In Michigan, new homes generally receive cheaper insurance, primarily due to their modern construction standards that reduce the risk of damage.

If you have a new home, Auto-Owners Insurance is the cheapest provider across varying coverages. Take a quick look at the rates for varying coverage values:

• Cheapest for $100,000: Auto-Owners Insurance at $249 per year
• Cheapest for $250,000: Auto-Owners Insurance at $272 per year
• Cheapest for $500,000: Auto-Owners Insurance at $316 per year

For detailed insights into how insurance costs fluctuate for newly constructed homes according to dwelling coverage, check out MoneyGeek's comprehensive table below.

In Michigan, ASI offers the most affordable home insurance for those with poor credit for $100K in dwelling coverage. Insurers use your credit score to determine your financial capability and to gauge potential risks regarding payment default.

ASI consistently ranks as the most affordable choice in Michigan for those with poor credit. Check out the rates for different coverage values:

• Cheapest for $100,000: ASI at $1,234 per year
• Cheapest for $250,000: ASI at $2,192 per year
• Cheapest for $500,000: ASI at $3,773 per year

If you have a poor credit score in Michigan, expect to pay an average of $6,245 per year for $100K of dwelling coverage — $5,187 more annually than the cost if you have good credit. Examine MoneyGeek's table for a more detailed breakdown regarding varying credit scores and dwelling coverage.

Auto-Owners Insurance is the most affordable home insurance company in Michigan for homeowners with one claim filed in the past five years, charging $264 per year for $100K in dwelling coverage. If you've made a claim before, insurers might charge you more, seeing you as a higher risk for future claims.

Here are the cheapest providers for different coverages:

• Cheapest for $100,000: Auto-Owners Insurance at $264 per year
• Cheapest for $250,000: Auto-Owners Insurance at $300 per year
• Cheapest for $500,000: Auto-Owners Insurance at $371 per year

Having at least two claims in the past five years can lead to higher premiums, costing an average of $1,382 per year — $324 more than the cost if you had no recent claims. Thus, Michigan homeowners must keep a claims-free record to minimize insurance expenses.

Your home's construction type and roofing material affect your home insurance premiums. For instance, if you have a frame-type home and a shake-treated roof in Michigan, the cheapest provider for such a home is Auto-Owners Insurance, which costs $265 per year. Poorly constructed homes or inferior materials may lead to higher insurance premiums due to their associated risks, such as susceptibility to fire or weather damage.

Auto-Owners Insurance is the most affordable provider across different coverages for a frame-type home with a shake-treated roof. See how they change rates depending on your desired limits:

• Cheapest for $100,000: Auto-Owners Insurance at $265 per year
• Cheapest for $250,000: Auto-Owners Insurance at $301 per year
• Cheapest for $500,000: Auto-Owners Insurance at $372 per year

Better materials and construction often lead to more favorable rates. For instance, a superior construction home with a tile roof costs an average of $1,131 per year — $143 less compared to a frame-type home with a shake-treated roof.

Having a higher deductible can save you more each year. In Michigan, Auto-Owners Insurance is the most affordable provider across deductibles, charging $264 annually for a $2,000 deductible with $100K in dwelling coverage and $271 per year for a $500 deductible for the same policy.

See how rates can change with Auto-Owners Insurance based on your deductible:

• $2,000 deductible: Auto-Owners Insurance at $491 per year
• $1,500 deductible: Auto-Owners Insurance at $264 per year
• $1,000 deductible: Auto-Owners Insurance at $264 per year
• $500 deductible: Auto-Owners Insurance at $264 per year

A deductible is your out-of-pocket cost before your insurance kicks in. Home insurance in Michigan costs an average of $174 less if you have a $2,000 deductible compared to a $500 deductible for $100K in dwelling coverage.

The most affordable company for a home and auto bundle policy in Michigan is Auto-Owners Insurance Co, with an annual premium of $2,731. In some instances and with some providers, bundling your home and auto insurance offers significant savings compared to purchasing both policies with different providers.

• Auto-Owners Insurance at $2,731 per year
• Progressive at $3,718 per year

Through bundling, you'll also enjoy the convenience of handling both policies with the same insurer. Having all your insurance needs under one roof simplifies management and communication, giving you one less thing to worry about. To learn more, check out the best Michigan insurance bundle.

Auto-Owners Insurance is the most budget-friendly home insurer across many Michigan cities, offering rates from $244 to $343. Costs can vary due to local factors such as building codes, crime levels and weather patterns. Consider that:

• A city like Grand Rapids has the lowest annual premium with Auto-Owners Insurance at $244.
• Detroit, on the other hand, has the highest annual premium with the same company at $343.

This disparity underlines the importance of comparison shopping. Insurers calculate rates differently across areas, potentially uncovering savings.