Michigan Homeowners Insurance

Michigan homeowners pay $987 a year for homeowners insurance on average. That's 16% below the roughly $1,172 national average. That puts Michigan in the middle of the pack nationally — 34th highest of the 50 states. Moderate risk; lake-effect snow and severe summer storms are primary hazards with no hurricane exposure. The main factors driving that number are Severe thunderstorms, Hail, Tornadoes and Lake-effect snow. Flood risk is comparatively low statewide, though local exposure can still vary by address. Homeowners insurance isn't legally mandated in Michigan, but any mortgage lender will require it as a condition of the loan. Michigan has no dedicated state insurer-of-last-resort program — coverage runs through the standard private market.