As you are shopping for a place to call home in the Lansing, MI area, there are a lot of important choices to make. One important choice will come when you are shopping for insurance for the property. A home insurance plan provides different types of coverage that can help protect you and your dwelling.

There are various reasons why you need to have this coverage here:

Insurance is often an obligation

One reason that you should have this coverage is that it is often an obligation. If you are going to take out a home loan when buying the property, or if you live in a home association, it is important that you properly insure your home as it will likely be a requirement under certain agreements you sign. Carrying coverage will ensure you are in good standing with such agreements. 

Insurance offers valued protection

You will also need to have this coverage as it can provide you with valued protection. Anyone that is going to buy a home will want to know that it is covered and supported. If you have a home insurance policy, it will give coverage to protect the dwelling and also offer liability support. This can be quite helpful if there is an accident or damage to your home. 

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Those that live in the Lansing, MI area should always ensure that they are properly insured with home insurance. If you are going to purchase a home here and need this insurance, calling the team with the Great Lakes State Agency is a great idea. The team with Great Lakes State Agency can offer you any support that you need to build your next plan including giving guidance and support, so you understand all your needs and options. 

Home insurance is an important way you can invest in your home and family. Although many people think of home insurance as just another expense each month, it is truly much more than that. Great Lakes State Agency is here to help folks in Lansing, MI and the surrounding areas, better understand their home insurance options and the importance of this type of coverage. 

Is Home Insurance Really An Investment?

Yes, each month when you pay your home insurance premium, you are investing into safety and security for your family. Should your home be damaged or lost, a home insurance policy is there to make sure you have the funds you need to make repairs or replace your home. This provides a deep sense of safety and security for you and your family. You will always have a place to call home. 

What Does Home Insurance Cover?

Home insurance will cover the cost of repairs or replacement of a home should it be damaged or lost. Home insurance will also cover the cost of any lost possessions inside the home. 

In addition to this, home insurance also provides liability coverage. This type of coverage can help pay for expenses resulting from an injury on your property or in your home. 

How Much Coverage Do I Need?

Each family is different and each home is different. This is why you should sit down with an insurance representative to determine exactly how much insurance coverage you need. 

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If you would like to learn more about home insurance, or any of our other services, please contact us at Great Lakes State Agency, serving Lansing, MI and the surrounding areas. We will be happy to answer your questions and help you today. 

You’re probably concerned that the mortgage lender may not pay your claim in a timely manner. Consider buying homeowner’s insurance from a reputable company that protects your investment. 

Some mortgage lenders offer homeowner’s insurance as an optional rider to their mortgage. For questions, Great Lakes State Agency is your insurance expert in Lansing, MI. 

Implications of Seeking Insurance through Mortgage Lender 

If you have homeowner’s insurance through your mortgage lender, then if you have a loss, you must go through your mortgage lender to get approval for the repairs. This means that they will probably require an independent inspection by an inspector they choose. 

They’ll want to see all of your receipts and when you try to pay someone with a check from your homeowner’s insurance policy it will be held up until the mortgage company verifies that the repair has been made properly. 

Some lenders may allow you to purchase homeowner’s insurance through your mortgage and others may not. With that said, most likely your ability to refinance your home will not be affected if you have homeowner’s insurance through a mortgage. 

Many people are surprised to find out that their mortgage lender may not be the best option for purchasing homeowners insurance. This is because many mortgage lenders require a minimum amount of coverage be carried on the mortgage holder’s insurance. 

Most likely, they’ll pay the smaller amount that’s not enough to cover your home in the event of a major disaster. Instead, you may want to consider purchasing insurance directly through your homeowners. This is because the homeowner’s policy will likely cover your home for much more than the mortgage lender’s minimum amount of coverage. 

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Homeowner’s insurance is typically purchased through a broker, so it’s recommended that you purchase it from a knowledgeable agent and not your mortgage lender. 

Once you have been approved for a mortgage, the lender is obligated to provide you with coverage and will typically provide a standard policy that covers the majority of your home’s value. Visit Great Lakes State Agency to clarify issues in Lansing, MI.

No one ever wants to think about the things that could cause you to need to file a claim with your insurance carrier. But bad things happen all over and Lansing, MI, is no exception. At Great Lakes State Agency, we are there for our customers from the time we help them get the right insurance at a price that works for them through any claims they need to file along the way. 

An inventory is just a list of all your possessions. If you are like most people, you have a lot more than you realized and nothing makes you realize that faster than doing a home inventory. Get a pad and pen and a camera and pick a room to start in. Get pictures from several different angles and then list what you see with as much information as you can provide. 

For electronics, serial numbers help, as do make and model. If you have sales slips or receipts, they should be attached to the list. Open the closets and drawers, go to the top of the house and the attic and the basement if you have one. Don’t forget the garage. If you have expensive items, be sure you have an appraisal to prove their value. The more detailed your descriptions the better. 

Once you have completed your listing, attach all the backup information and the photos and find a safe place to store it. At the very least, you need to have a fire and waterproof container to protect this very important information. Ideally, the inventory can be stored away from the home and it is always a good idea to have a copy on the cloud. 

Give us a call at Great Lakes State Agency in Lansing, MI when you are ready to discuss the home insurance that is best for you.