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4800 S Cedar St
Lansing, MI 48910

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Home Insurance FAQs

If you own a home in Michigan, you have probably heard about home insurance. While you have an idea of what home insurance is, you still have a load of questions regarding this coverage. What does home insurance cover? Does homeowners insurance cover everything? Is it mandatory? If you would like to learn more about home insurance, hang on as Great Lakes State Agency located in Lansing, MI provides answers to questions we receive from our clients. 

Is home insurance mandatory?

If you are wondering whether there is any Michigan law that requires you to buy home insurance, there is none. However, if a federal-regulated bank finances your home, they may need you to purchase standard home insurance to protect your home.

What does home insurance cover?

Your home insurance protects you from natural perils, accidental, and malicious acts. Below is a rundown of what home insurance covers:

  • Dwelling coverage protects your home’s structure and attached structures from damage from fire, lightning, hail, hurricanes, and many other risks.
  • Contents coverage pays for loss or damage to your personal belongings
  • Liability coverage provides property damage and bodily injury coverage for losses and damages caused to third parties
  • Additional living expenses (ALE) coverage pays for expenses incurred beyond your normal spending when your house becomes unlivable due to a covered loss.  

What is a deductible?

A deductible is an amount you are supposed to pay before your insurer pays you. For instance, if you chose a deductible of $1,000 and have a covered loss of $5,500, your insurer will compensate you with $4,500 after deducting the $1,000. 

Typically, home insurance deductibles are applicable per claim. If you have more than one claim in a given period, you are supposed to pay for the deductible regardless of the number of claims you make. 

What are home insurance exclusions?

Home insurance won’t cover damage from nuclear hazards, normal wear and tear, pest infestation, and floods. Besides, home insurance provides little coverage for high-value items like art and jewelry. 

Still having your question unanswered? Don’t worry. Please get in touch with Great Lakes State Agency for more information. Else, you can visit our Lansing, MI offices to chat with one of our agents. 

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