Average homeowners insurance cost in Detroit, MI

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In Detroit, homeowners pay an average annual rate of $3,478 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $896 more than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Detroit, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Detroit, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Detroit.

Key takeaways

The cost of your homeowners insurance policy in Detroit can vary based on factors such as your location, the value of your home, and the coverage options you select.
Auto-Owners is the cheapest homeowners insurance company in Detroit with an average annual premium of $899.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $694 more, annually for home insurance.

Average homeowners insurance cost in Detroit per month

Residents of Detroit pay an average of $290 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $90 more than the state average of $200 and $75 more than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Detroit may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Detroit

In Detroit, MI, homeowners pay an average of $2,784 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

Average homeowners insurance cost for a $300,000 house in Detroit

According to a rate analysis by Insure.com, homeowners in Detroit pay an average of $3,478 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $694 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Detroit by Company

Among the carriers analyzed, Auto-Owners is the cheapest homeowners insurance company in Detroit. It’s average annual rate for Detroit homeowners is $899. Automobile Club MI (AAA) ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $2,869.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Detroit and prepared a list of the cheapest home insurance providers. You can find below the Detroit home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Auto-Owners	$899
State Farm	$2,869
Frankenmuth Insurance	$3,623
The Hanover	$4,127
Farmers	$6,057
Michigan Farm Bureau	$8,521
Automobile Club MI (AAA)	$2,305
USAA*	$2,922

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Detroit for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.