Michigan  Home Owners Insurance and the fine print

Every home owner in Michigan must review their homeowner insurance with their insurance representative on regular basis. Homeowners must examine and understand the items which are covered and those which are not. Just as an example some policies have hotel coverage included for four months and some for a different duration. Some have mold coverage and others don’t.

Before any unforeseen incident happens to the home,  every homeowner must understand homeowners insurance concept in general and then talk to their insurance representative about every single coverage. Few of the things to keep in mind are:

• Ask the insurance representative all possible items not covered and why, review each and make a decision keeping the overall insurance plan and premium in mind. Then understand and review all the items which are covered in the insurance.
• If not satisfied, review the current insurance policy with another company and ask for  their input.
• Discuss and evaluate,  whether the compensation is set to be paid at replacement value  or actual cash value.
• Discuss about the coverage of  water damage from sewer and pipes anywhere in/outside the house
• Understand the nature and extent of coverage for any damage to the structure, walls, foundation and basement.
• Understand /review whether the coverage is limited, complete or partial.
• Every home buyer in Michigan must have an homeowners insurance policy at the time of closing, those buying cash should ensure to have one. Your real estate agent can give you some references of insurance representatives if you need
• Always keep in mind that due to the homeowners negligence and  mismanagement of the. homeowner insurance policy, chances of an insurance claim rejection are increased.