Get Bay Port, MI Home Insurance Rates!
Are you looking for new homeowners insurance in Bay Port?
We can help, our website helps you shop up to 12 Michigan insurance rates in your area. We can help save both time and money while also making sure your home is fully protected.
For a quick insurance quote for your home in Bay Port enter your zip code above. Our process is simple and quick, you only need to answer a few questions to start the quote process.
Get your Bay Port home insurance quote today or give us a call: 1-855-976-2656.
A few facts about Bay Port, MI Home Insurance Rates
In Bay Port MI, the average home insurance rate is $1,002 per year. Michigan is currently #36 most expensive state in the country when it comes to homeowners insurance. Premiums in Michigan are dramatically higher than the national average in the U.S which is around $1,311. In Bay Port, MI most residents will pay $84 a month for homeowners insurance.
We can help you save up to 40% or more when shopping for homeowners coverage.
Discounts can help keep your insurance affordable
Insurers offers tons of different discounts, and they are a great way to keep your premium affordable. We will make sure that all available discounts are being applied to your policy. Here are a few of the more common discounts that insurers offer:
- Bundling: This is a major discount that insurers offer to Bay Port customers who carry multiple lines of coverage with them. If you are carrying homeowners coverage and car insurance (or any other insurance for that matter) with the same insurer you should receive a discount. Discounts can range up to 20 percent so it can be well worth it.
- Loyalty Discount: Insurance companies value their long-term customers and are happy to give them a discount. Once you have been with the same insurer for three years or more, consider asking for a loyalty discount.
- Monitored alarm systems: Insurers love alarm systems and offer a discount if you have a monitored alarm system in your home. Once your system is installed, ask your insurer for a discount. Discounts can range up to 15 percent.
- Impact-resistant roofs: In Michigan storms are very common and can sometimes be extreme, so having an impact-resistant roof will usually result in a discount on your insurance premium. If you are in the market for a new roof, consider upgrading to an impact and wind resistant roof.
- Pay in full: If you can afford to pay your annual premium in one lump sum your insurer will usually offer a small discount. While the discount may only run to 5 percent, they all add up.
Bay Port Flood Insurance and Windstorm Coverage
Bay Port is a coastal community that is often at risk from windstorms and other severe weather. In these types of areas, it is a good idea to carry wind and hail coverage. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood damage is another peril that Michigan homeowners must deal with due to our extreme weather and sea level elevation. Unfortunately, a standard homeowners policy excludes flood coverage.
In order to fully protect your home, you should consider purchasing a separate flood insurance policy. We are happy to work with you to find the best flood insurance coverage you need for your home in Bay Port. For flood insurance only in Bay Port, MI, please call us at 888-620-1954!
Top 5 Helpful Savings Tips for Bay Port Homeowners
Below are some great saving tips when looking to buy home insurance.
- FAQ: What is a Bay Port, MI Homeowners Insurance Policy?
- FAQ: What does a replacement cost coverage and actual cash value mean for my home in Bay Port, MI?
- This home insurance calculator will calculate your dwelling coverage for your home in Bay Port, MI so you know what type of home insurance coverage you need to cover your replacement cost.
- Here are the top five homeowners insurance discounts that you may not be aware of in Michigan
- Here are the top 3 home insurance credits available to homeowners.
Bay Port Demographics & Housing Facts
| Source | Value |
|---|---|
| Location: | Bay Port, MI (HURON County) |
| Population: | 1,042 |
| Occupied Residents: | 444 |
| Average Real Estate Value Per Zip Code: | $85,600 |
Compare Homeowners Insurance Rates in Bay Port, MI!
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Home Insurance Rates by Zipcode in Bay Port, MI
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Bay Port.
Bay Port, MI Home Insurance Average Premiums
$480 /yr.
For the city of Bay Port, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $480 /yr. |
| Average Coverage: | $730 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1030 /yr. |
What is the average home insurance cost for a home in Bay Port, MI?
- • The average homeowners insurance premium paid annually for a home in Bay Port is around $730 per year.
What does it cost on average per month for home insurance in Bay Port, MI?
- • Homeowners in Bay Port pay an average cost per month around $61.00 for insurance coverage.
Bay Port, MI Coastal Wind, Hail & Flood Information
Bay Port is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Bay Port is know for it's beautiful beaches and waterways. Because Huron County (FIPS: 26063) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Bay Port, MI.
Bay Port, MI - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $104,442 | $105,780 |
| February | $105,900 | $106,899 |
| March | $107,600 | $107,420 |
| April | $106,100 | $107,308 |
Homeowners insurance will help cover the cost to repair or replace your Bay Port home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Bay Port
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Bay Port, MI homeowners insurance rates all in one place! |
Saving Money Tips on Bay Port Home Insurance
A great way to save money on Bay Port homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Bay Port area? Check out what homeowners are paying on average for Michigan homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 615 ft. | This is the average home elevation in Bay Port, MI | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Bay Port, Michigan. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Bay Port, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Huron County.
Michigan Homeowners Insurance News & Information
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Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024
According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums. While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]
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Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024
As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]
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Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
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Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
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The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
Bay Port, MI Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Bay Port so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Bay Port, MI?
- The average square footage in Bay Port is around 648 Sq. Ft. which would cost you around $85,600 to replace the home if you base the home on the price to build per square foot of $132.
Minimum Replacement Cost Total: $85,600
Location: Bay Port, Michigan (Huron County)
Average Building Cost Per Square Foot in Bay Port: $132 (low end)
Average Square Footage in Bay Port: 648 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $132 | $85,600 |
| Some Additional Upgrades | $165 | $107,000 |
| Major Home Updates or Advancements | $198 | $128,400 |
The dwelling coverage is calculated by the average cost per square foot ($132) in Bay Port, Michigan times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $412,500 (Media price to build of $165 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.