Three frequently asked questions about home insurance in Michigan

It’s important to ask questions when you’re on the market for the right home insurance policy in Grand Ledge, MI. At Bye Financial Group LLC, we’re here to help you to do your research when selecting the right policy to secure your home.

The following are three frequently asked questions about home insurance in Michigan.

How much coverage does a homeowner need?

It’s important to think carefully about how much coverage you need. You should have enough coverage to cover the full value of your home. You should also have enough coverage to cover the full value of the possessions you have within your home. 

Another type of coverage you need is liability coverage. Liability coverage will protect you against lawsuits. Ideally, you should have enough liability coverage to cover your full net worth to protect your assets. You may need to add umbrella coverage on to your home insurance policy to have this much coverage. 

Why is homeowners insurance important?

You need home insurance to protect the investment you make in your home. You also probably need home insurance coverage if you have borrowed money to buy a home. Mortgage lenders require their borrowers to insure their homes. 

What does home insurance cover?

A typical home insurance policy will offer coverage for damage to the home due to a variety of causes including fires and certain natural disasters. However, home insurance won’t typically provide coverage for flood damage and several other types of damage.

It’s important to understand the limitations of your policy and buy added coverage like a separate flood insurance policy where necessary. 

Let us help you find the right insurance policy for your Grand Ledge, MI home. Contact us today at Bye Financial Group LLC to learn about the home insurance coverage we offer in Michigan.