Unlike car insurance, it is not required by state law to purchase Michigan home insurance, but it is definitely recommended. As well as, in a lot of cases mortgage lenders will require homeowners to at least purchase a basic home insurance policy. If you are currently looking for a Michigan home insurance policy, whether your existing policy is coming to an end or you are shopping for the first time, then read on to find out how to find the best policy for you.
Shopping Around is Key
Like buying most things in life, insurance is a product that can usually be found cheaper elsewhere. Obviously there are more factors than just cost that you need to think about, but cost is often the most important to homeowners and so it’s a good place to start. You may think that insurance companies have all the power, but this is not the case. Companies throughout Michigan will be competing with each other for your business, and this competition leaves a big space for negotiation. A good way to start when shopping for insurance is to check out some a comparison website. This will give you a quick overview of the current average rates, and what sort of coverage you can get for that price. However, this is purely a starting point. The best deals are only going to be found if you dig a little deeper. Ask your neighbors, friends and family for recommendations and contact the insurance companies directly. Many companies will actually not allow comparison sites to store their details, so if you don’t do this extra bit of leg work you will definitely lose out in the long run. If you’re still not entirely convinced, here are some reasons why shopping around for Michigan home insurance really does work.
- Companies Have to accept you
If you are eligible under the law for home insurance coverage, then no insurance company can refuse you. Therefore, you have absolutely nothing to lose by trying your luck and using your negotiation skills. If it doesn’t work out, just move along.
- You Can Contact Any Company Within the State
You are not limited to insurance companies operating out of the specific area that you live in. You can talk to any of the company’s service Michigan and they have to provide you with coverage under the law.