Homeowners Insurance in Garden City, Michigan (2024)

Keep reading to find out how much home insurance costs in Garden City, how these Michiganders can find competitive premiums, and other key details about insurance in this Michigan city. 

Garden City home insurance costs, on average, about $1,711 annually. The average rate in this Michigan city is a bit lower than the state average, which rests at $2,114 in 2024. Unfortunately, the Great Lakes State hasn’t been immune to the crisis facing the insurance industry, with the cost of annual premiums in Michigan rising about 14% in just one year.

While the average premium in Garden City is about 20% lower than the state average, it’s important to note that insurance rates vary greatly depending on the policyholder. In general, insurers assess a policyholder’s risk of filing a claim and calculate their premium based on that risk. Those with an above-average risk of filing claims may see higher premiums to compensate for that risk. 

To determine your risk, your insurer will consider several factors, some related to your city and others to your individual characteristics. Things like the median home age, the type of severe weather, and the crime rates in your city generally contribute to the cost of premiums in your area. Insurers consider these factors because they’re closely related to common claims, like fire and wind damage or theft. 

A good example of these factors at play is Garden City’s rank in the 46th percentile when it comes to crime and its slightly below-average premiums. While crime rates and home insurance premiums aren’t necessarily a cause-and-effect relationship, one can certainly see how crime rates might factor into home insurance premium calculations.

While the average rate in Garden City, Michigan, is below the state average, some residents may have much higher premiums due to a long claims history, a high home replacement cost, or another reason.

One of the primary factors that affects your premiums is the amount of dwelling coverage you carry on your policy. Let’s see how premiums differ when adjusting dwelling coverage amounts in this Michigan city.

Generally, the amount of dwelling coverage you have on your policy corresponds with the replacement cost of your home. Insurers typically require policyholders to carry at least 80% of their home’s replacement value in dwelling coverage. This means if your home’s replacement value is $250,000, you’ll want to have at least $200,000 in dwelling coverage.

Dwelling coverage would help you pay to repair damage to the elements that make up the structure of your home if damaged by a covered peril. It’s also the main part of your home insurance policy. For example, dwelling coverage may help cover the costs associated with fixing a roof damaged by a tornado, including labor, material, and construction. 

While homeowners insurance in Garden City is a bit below the state average, there may be even more savings in store for you. Let’s see how these Michiganders can lower their premiums even further.

Extra savings are possible on home insurance in Garden City, even with Michigan’s average premium coming in about 20% below the state average. 

The first and most efficient way to find cheap homeowners insurance in Garden City is to shop around for quotes online. By using a quoting engine, like the one we have right here at Clovered, you can see rates from several different insurers and continue your research based on which insurer offers the most competitive rates for your situation.

Once you’ve narrowed your search for affordable insurance to a few different insurers, here are three extra steps you can take to potentially lower your premiums even further. 

      1. Tailor Your Coverage

Many homeowners insurance policies require policyholders to have certain coverage types but give them some freedom when setting their coverage limits. If you’re dead set on getting the lowest rates, you may customize your policy to contain the lowest coverage limits possible while remaining sufficiently insured. 

As stated, policyholders must have a dwelling coverage limit covering at least 80% of their home’s replacement cost. Other common limits are other structures coverage valued at about 10% of your dwelling coverage amount, personal property coverage at about 30% of your dwelling coverage limit, and at least 20% of your dwelling coverage limit in loss of use coverage. 

The other coverages, personal liability coverage and medical payments coverage are generally limited to at least $100,000 and about $2,000, respectively. However, raising your liability and medical payments coverage limits seldom affects your premiums, so many insurers recommend carrying more than the bare minimum. 

      2. Raise Your Deductible

Adjusting your deductible is another way to directly affect your premiums. Lower deductibles generally yield higher premiums, while higher deductibles generally decrease premium costs. Raising your deductible will lower your premium, but you’ll also owe more out-of-pocket should you file a claim.

Deductibles commonly range from about $500 to $2,500, on average. So, if you select a $500 deductible, you’ll only owe $500 up front each time you file a claim before your insurer kicks in the rest. So, if you have enough savings to support a higher deductible, by all means, raise it. But, if the thought of shelling out $2,500 each time you file a claim makes you queasy, maybe skip this step. 

      3. Hunt Down Discounts

Arguably, the best way to lower your premiums is to add discounts. Finding discounts to reduce your rates allows you to maintain the coverage you need to feel safe without compromising just to save a few extra dollars. 

Insurers offer various discounts regarding your personal characteristics and features of your home. For example, many insurers offer occupational discounts, like a military discount or a home security discount, for those with a security system installed in their home that meets their insurer’s standards. 

Discount amounts will vary depending on your insurer, but many companies allow policyholders to combine their discounts to maximize their savings. 

In Michigan, some of the best insurers are AAA, Frankenmuth, and State Farm, with rates ranging from about $1,180 to $1,610. However, there is no one-size-fits-all “best” insurance company in Garden City because each homeowner’s idea of a great policy differs based on their own needs. However, there are some things to keep in mind while you search for your best insurer.

First of all, you’ll want to decide what you value more in a policy: cost or coverage. Typically, if you value one of these factors over the other, you may have to find a compromise. This just means if you value coverage over cost, for example, you may have to compromise on cost because great coverage can add up quickly. 

So, once you decide which is more important to you or that they’re both equally important, you can use this to guide the rest of your search for the best insurer for your needs. To continue your search in the most efficient way possible, we recommend getting and comparing quotes online so you can see all your potential policies in one place. 

No, technically, home insurance isn’t required by law in Garden City, Michigan, or anywhere in the Great Lakes State, for that matter. However, those who have a mortgage to pay for their home may be required by their lender to maintain certain coverage limits.

When you have a mortgage, your mortgage lender is invested in your property. So, homeowners insurance helps your lender protect their investment against freak accidents, like tornado damage or theft. You must abide by your lender’s insurance requirements as long as you have a mortgage. 

If you fail to keep up with your mortgage lender’s insurance requirements or if your insurance company drops you, your lender will get force-placed coverage for you. Force-placed coverage isn’t ideal for the homeowner because it generally serves the lender’s best interest – meaning the premiums are likely to be much higher. 

The best practice for acquiring home insurance in Garden City is to compare quotes online. Since everyone has different needs, getting a pool of quotes to choose from is a great way to weigh the options best suited to your circumstances.

Here at Clovered, we have a free quoting tool you can use that’s as easy to use as it is for a Michigander to use their hand as a map of the state. If you feel more comfortable speaking directly with a professional, you can contact one of our licensed agents at 833-255-4117 or [email protected] with any of your insurance-related questions.