HomeInsuranceQts

Home Insurance in Michigan

Homes in Michigan carry a median value of $231,600.

The typical home in Michigan was built around 1972. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 36% of homes were built before 1960.

The housing stock in Michigan is 77% single-family homes, 13% apartments in buildings with 5+ units and 5% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

In Michigan, about 58% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.

The vacancy rate is 12%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 73% of occupied homes in Michigan are owner-occupied.

In Michigan, 75% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.

In Michigan, the statewide average premium for a standard HO-3 homeowners policy is $1,110 per year (NAIC, 2023 data).

Key figures

Median home value$231,600
Median year built1972
Owner-occupied share73%
Share of owner-occupied homes with a mortgage58%
Home insurance premium$1,110 - statewide average (NAIC, 2023 data)

Counties

Sources