Auto-Owners Insurance: Comprehensive Condo Coverage In Michigan?

Auto-Owners Insurance Company offers condominium insurance in Michigan, which covers the interior of the structure, personal property, and additional living expenses if the condo becomes uninhabitable. Condo insurance is not required by law in Michigan, but it is typically required by mortgage companies. Auto-Owners is rated as the best condo insurance company in Michigan, offering the cheapest rates at an average of $89 per year.

Auto-Owners Insurance offers the cheapest condo insurance in Michigan

Condo insurance is not required by law in Michigan, but your mortgage company will likely require it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Coverages

Auto-Owners Insurance offers coverages for your condo and any attached structures, such as a garage or deck. They also provide coverage for structures on your property that are not attached to your home, like a shed or pole barn. Your personal possessions are covered anywhere in the world, and you are protected against lawsuits worldwide.

Additional living expenses are covered if you are unable to stay in your condo after a covered loss. You can also get equipment breakdown coverage, guaranteed home replacement cost, and water backup coverage for sewers or drains.

Special personal property coverage is available for broader protection, and ordinance or law coverage will help you comply with local regulations. You can also add identity theft expense coverage and home cyber protection to your policy.

Inland flood coverage can be added to your policy if you live in a low-to-moderate flood zone, and it offers broader coverage than the National Flood Insurance Program.

How to Get a Quote

Auto-Owners Insurance offers its products through independent agents. You can use their Agency Locator to find an independent insurance agent near you to get a quote.

Condo insurance covers personal possessions and special items

Condo insurance is a home insurance policy that covers everything inside your condo, including your personal possessions. The cost of condo insurance varies depending on the level of coverage you choose and the company you purchase it from. On average, condo insurance in Michigan costs $659 per year for $60,000 in personal property coverage and $300,000 in liability protection with a $1,000 deductible. However, the cheapest condo insurance company in Michigan is Auto-Owners, which offers coverage for an average of $89 per year.

Personal property coverage, also known as contents coverage, helps protect your personal belongings in the event that they are destroyed, damaged, or stolen. This includes items such as furniture, clothing, electronics, and kitchenware. When purchasing condo insurance, it is important to consider the value of your personal possessions and ensure that you have sufficient coverage in case of loss or damage.

In addition to personal property coverage, condo insurance also provides liability protection. This means that you will be covered in the event that someone is injured or their property is damaged while inside your condo. The standard condo insurance policy includes $100,000 in liability coverage, but experts recommend increasing this to at least $300,000 for adequate protection.

When shopping for condo insurance in Michigan, it is important to compare quotes from multiple providers and consider the coverage limits, deductibles, and your specific needs. By doing so, you can find the best policy that offers comprehensive protection for your personal possessions and special items.

Condo insurance also covers injuries that occur inside the residence

Condo insurance, also known as HO6 insurance, is an important form of protection for condominium owners. While it is not required by law in Michigan, it is typically mandated by mortgage companies. Condo insurance covers the interior of the unit, including personal belongings, appliances, and fixtures, in the event of damage or theft. It also includes personal liability coverage, which is essential if someone is injured inside the residence.

Personal liability coverage will pay for any damages if you are found legally responsible for injury or property damage. For example, if a guest slips and falls inside your condo, your insurance will cover their injuries and any resulting losses. This coverage is particularly important as injuries that occur within individual units are typically the responsibility of the condo owner, whereas injuries in common areas are covered by the HOA's insurance.

In addition to personal liability coverage, condo insurance can also include medical payments coverage, which will pay for medical expenses for someone injured in your condo, regardless of who is at fault. Most insurers offer up to $5,000 in medical payments coverage, but some offer more.

Condo insurance is designed to complement the condo association's master policy, which covers the exterior structure of the building and common areas. The extent of your dwelling coverage in your condo insurance policy will depend on what is already covered by the master policy. If your HOA has an all-in master policy, you may not need to include dwelling coverage in your condo policy.

The cost of condo insurance in Michigan will depend on various factors, including the location, square footage, and build of the condo, as well as the coverage provided by the HOA master policy. On average, condo insurance in Michigan costs $659 per year, but the cheapest option is Auto-Owners Insurance, at $89 per year.

Overall, condo insurance provides essential protection for condominium owners, especially in the event of injuries occurring inside the residence. By understanding what is covered by the HOA's master policy and shopping around for the best rates, condo owners can ensure they have the necessary coverage at a reasonable price.

Additional living expenses are covered if your home is uninhabitable

Auto-Owners Insurance Company offers the cheapest condo insurance in Michigan, at an average of $89 per year. Condo insurance covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Condo insurance is not required by law in Michigan, but your mortgage company will likely require it.

If your home is uninhabitable, your insurance policy will cover additional living expenses (ALE) or loss of use. This includes costs incurred from living elsewhere while your home is being repaired or rebuilt after a covered loss. This could include hotel stays, storage fees, moving costs, pet boarding, laundry expenses, and food costs.

It is important to note that ALE only covers additional expenses, not your typical expenses. For example, if you are staying in a hotel, your insurance will cover the hotel bill but not your mortgage or utility bills for your home. Coverage limits and details may vary, so it is important to check with your insurance agent or read your policy carefully. Most policies include an automatic amount of ALE coverage, but you may be able to increase it if needed.

To file an ALE claim, contact your insurance provider and inform them of the covered event and your displacement. Keep detailed records of all expenses incurred during your displacement and submit the necessary documentation, such as receipts, to support your claim.

Condo insurance is not required by law in Michigan

In Michigan, every condominium association is required to carry insurance over the condominium. However, most condominium bylaws also require the "co-owners" to carry a separate insurance policy for their "units" and personal property located within their units.

Condominium associations should carry insurance coverage for the common elements and any other items which the association is obligated to maintain, repair, or replace under the governing documents. They should also maintain liability insurance to protect the association in the event of damage or injury to another person or property, including the co-owners.

While condo insurance is not legally required in Michigan, it is a good idea to have it to protect your property and personal belongings.

Frequently asked questions