As in other states, the premium rates for home insurance in Michigan varies depending on certain considerations. Living in a disaster-prone location is a drawback that would influence premium rates because of the high-risk factor. The value of the property also affects the premium price, as the higher the value the higher the worth of potential claims.
It’s important for homeowners to understand the principles that affect the rates of insurance premiums on a home. Check with your insurer first to see if a remodeling project will raise your rates. One specific feature that will almost certainly affect your home insurance costs is a swimming pool.