Category: Home Insurance

Those that are in the Lansing, MI area could find that it is a great community and place to own a home. If you would like to purchase a property here, you always need to ensure that you are protecting it well. A great way that you can do this is by getting home insurance. A quality home insurance plan is a good investment for a few reasons.

Protect Your Dwelling and Assets

A good reason for anyone to have a home insurance plan in this area of Michigan is to protect their assets and dwelling. Buying a home is the largest investment that most people will ever make. Additionally, you will have a range of personal assets including clothing, furniture, and electronics that you will keep in your home. If you do get a home insurance plan, you will get coverage that can protect all of these assets. 

Receive Liability Support

You also should get a home insurance plan to receive proper liability protection. Anyone that is going to own a home will have a risk that an accident could occur that causes property damage or injuries. The best way to offset this concern is by obtaining a home insurance plan. With this coverage, you can receive liability insurance that will provide helpful support in a variety of situations.

You should always ensure that you have proper home insurance in the Lansing, MI area. When you are looking for a plan in this area, calling the Great Lakes State Agency is a great idea. With so many choices to make the team with Great Lakes State Agency can help you identify your insurance needs and give any support necessary to build a plan. This can help ensure you get into a plan that is ideal for your situation. 

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.