Finding a Better Deal on Homeowners’ Insurance

All you need is one disaster, like a basement flood or a tree falling on your house, to know how important homeowners’ insurance is. But more than one quarter of Detroit residents simply can’t afford the high insurance rates we pay – often significantly higher than our suburban neighbors. Our friends at Outlier Media have described the problem well. Major political, economic, and regulatory changes are needed to fix it, but what can homeowners do in the meantime?

Getting quotes through an independent broker not aligned with any particular insurance company, bundling (e.g. insuring your home and care with the same company), choosing a policy with a higher deductible, and checking out discounts offered to some employers, Greek organizations, alumni associations, and seniors may also help you cut costs.

Make sure your search begins with gathering documentation about your home (e.g. square footage and year of construction), a list of valuables, and receipts from home improvements. For more details, click here.