Grand Rapids ,MI Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Grand Rapids, MI homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Grand Rapids, MI is $1581. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Grand Rapids, MI. VHome Insurance will help you navigate the world of homeowners insurance coverages in Grand Rapids, MI.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $632 |
| $200,000 | $1,075 |
| $300,000 | $1,328 |
| $400,000 | $2,024 |
| $500,000 | $2,545 |
Home insurance costs in Grand Rapids can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 049507 | $1,471 |
| 49546 | $1,619 |
| 49506 | $1,589 |
| 49525 | $1,560 |
| 49544 | $1,520 |
| 49505 | $1,499 |
| 49503 | $1,504 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Grand Rapids, MI, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,621 |
| $1000 Deductible | $1,450 |
| $1500 Deductible | $1,368 |
| $2500 Deductible | $1,233 |
| $5000 Deductible | $1,043 |
| Home Insurance Company Near Grand Rapids, MI | Homeowners Insurance Agency Near Grand Rapids, MI | Address |
|---|---|---|
| Travelers | Carr Agency Inc | 115 W MAIN ST, IONIA, MI, 48846 |
| Allstate | Darryl Rauhoff | 5050 Gull Rd, Kalamazoo, MI, 49048 |
| State Farm | Kelly Schmidtke | 4211 Clyde Park Ave SW, Wyoming, MI, 49509-5474 |
| State Farm | Ken Visser | 9505 Cherry Vly Ave SE, Caledonia, MI, 49316-9524 |
| Allstate | Roger Vroegindewey | 4300 Plainfield Ave NE Ste C, Grand Rapids, MI, 49525 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| East Grand Rapids city, Michigan | $123 | $164 | $246 |
| Grand Rapids charter township, Kent County, Michigan | $120 | $160 | $240 |
| Wyoming city, Michigan | $110 | $147 | $221 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Grand Rapids, MI | 5.3% | 14.7% |
| East Grand Rapids | 3.61% | 9.94% |
| Grand Rapids charter | 3.75% | 11.82% |
| Wyoming | 5.11% | 14.76% |
| Grand Rapids Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 687 | 2.0% | $351 |
| $200 to $299 | 1,425 | 4.0% | $801 |
| $300 to $499 | 2,491 | 8.0% | $1251 |
| $500 to $749 | 10,839 | 35.0% | $1926 |
| $750 to $999 | 8,057 | 26.0% | $2676 |
| $1,000 to $1,499 | 6,084 | 19.0% | $3801 |
| $1,500 or more | 1,146 | 3.0% | $5451 |
| Streets in Grand Rapids Area | Homeowners Insurance Cost |
|---|---|
| Campau NW, Emerson Ave NW, Crescent Dr NE, Cambridge St SE, Ridgeway Rd SE, Riverview Ave NE, Benson Ave NE, Nixon Ave NW, Belknap Ave NE, Whitmore Ave NW | $739 |
| Casimer Ave NE, Ramona St SE, Aleda Ave SE, Thelma Ave SE, Lakeside Dr SE, Embassy Dr SE, Corinne St SW, Pheasant Ave NW, Donnybrook Ct NE, Summer Ave NW | $725 |
| Ashland Ave NE, Danbury Dr SE, Buckley St SW, Royal Point Dr NW, Belmar Dr SE, Northwood St NE, Oakdale St SE, Holland Ave NE, Aberdeen St NE, Gerald Ave NE | $742 |
| Oak Park Dr SE, Courtyard Pl SE, Skyline Cir NW, Stanwood St NW, Hollis Dr NE, Congress Ave SE, Winchester Pl NE, Evernia Ave SE, Calkins Ave SE, Rolling Hills Dr SE | $757 |
| Dunlin Ct NE, Cranbrook Dr NE, Brook Hollow Pl SE, Bartlett St SW, Cloverleaf Dr SE, Robinson Rd SE, Bradford Farms Ln NE, Greenings St NE, Old Grand River Trl NE, Race St NE | $835 |
| Martin Ave SE, Haines Ave NW, Myrtle St NW, Van Portfliet Dr NW, Red Bud Cir NW, Blackberry Ct, Maplegrove Dr NW, Winesap Ct NE, Timothy St SE, Mc Reynolds Ave NW | $753 |
| Bransford St, Dean Lake Ave NE, Bradford Ct NE, Mount Vernon Ave SW, Moreland Ct NW, Stewart St SW, Spanish Ct SE, Ottillia St SE, Newberg Ave NW, Rurah Ave NE | $730 |
| Otsego Dr SE, Simmons Ave NE, Cavalcade Dr SE, Ken-O-Par St SE, Butler Ave SE, Forest Hill Ave SE, Pearl St NW, Crescent St NE, Riva Ridge Dr SE, Grandville Ave SW | $780 |
| Martindale Ave SW, Virginia St SE, Antebellum Ct NW, Scott Ave NW, Sterling Ave NW, Monique Dr NE, N Blodgett Aly SE, Foot Hills Ct NE, Gabrielle Ct NE, Avalon Ter SE | $762 |
| Wendler Ave SW, Meadowfield Dr NE, Walker Pl NW, Meadow Dale Dr NW, Coach Ln SE, Briar Hills Dr NE, Appleton Ct NE, Woodcrest Dr NW, Wellington Ave SE, Ridgecrest Rd SE | $742 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Grand Rapids | $110 to $113 |
| East Grand Rapids | $123 |
| Grand Rapids charter | $120 |
| Wyoming | $110 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,700 | $2,700 |
| Yearly Grand Rapids Homeowner Insurance Premium Example | $800 | $600 |
| Out of Pocket Expense During Claim | $1,700 | $2,700 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $8,100 | $7,500 |
| Net Savings to Grand Rapids Home Owner from High Deductible Plan | $600 | |
| Scenario | Grand Rapids, MI Home Replacement Value MORE than Home Value | Grand Rapids, MI Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $296,000 | $193,500 |
| Insurance Premium based on Replacement Value | $1,450 | $950 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $34,000 | Risk Exposure from Under Insuring Coverage is $68,500 |
| Premium Impact | Insurance cheaper by $325/year | Insurance costlier by $175/year |
| Insurance Company | Farmers Insurance | State Farm | Chubb Group of Insurance |
| Monthly Premium | 27 | 43 | 35 |
| Year Built | 1963 | 1971 | 1948 |
| Home Details | 2 Beds, 1 Baths | 3 Beds, 1 Baths | 4 Beds, 2 Baths |
| Coverage Amount | $75000-$100000 | $100000-$125000 | $100000-$125000 |
| Deductible | $1000-$2500 Deductible | $500 Deductible | $500- $1000 Deductible |