Lansing, MI homeowners insurance is approximately $616 to $834, about $51-$69/month. Our extensive research shows customers can save upto $290 by getting multiple quotes. Enter your zipcode below and click “GO” to get multiple free quotes.
Lansing, MI homeowners are paying an average of $1,191 in home insurance each year. Factors that affect the cost of a policy include home value,coverage type, deductible and age or the material used to build your house.There are different ways to reduce the homeowners insurance cost, and the easiest way is to choose a higher deductible. Below is the summary of average home insurance costs available to Lansing homeowners based on the deductible and other variables.
Lansing, MI Homeowners Insurance cost for Different Deductibles
Deductible is the amount of money that an homeowner pays out of pocket before the policy begins paying out the claim. Choosing a higher deductible means lowering the potential benefit, which in turn makes the policy less valuable and therefore cheaper.Homeowners in Lansing can get $488.24 worth of coverage for as little as $2500 with an attractive discount available by opting for higher deductibles.Homeowners receive insurance for $519.38 and $572.15 respectively, on deductibles $2000 and $1500.
Age of the home is an important variable to decide the home insurance cost.Older homes are more likely to have structural damages that increases the risk and thus increases the premiums. Lansing, MI homes older than 40 and 50 years old pay $698 and $706 respectively.On the other hand newly built homes are less prone to damage and home insurance companies offer substantial discounts to newly constructed homes. For instance newly constructed homes in Lansing can avail lower insurance of $537.
The cost of home insurance is determined based on factors such as construction type. For example, a fire-resistant house will make your average annual premium significantly lower at $592 per year in Lansing due to the risk of damage from fires or other combustion reactions. Homes built with Masonry and Brick can receive an average price for homeowners' insurance coverage in Lansing starting at $646. Whereas homes built with superior and hail resistant roofs attract a higher amount $612 and $666 respectively.
Homes built with special features are likely to attract a higher amount of premium than the state average. For instance, homeowners in Lansing pay $694 of premium for installing a swimming pool. In addition, if the swimming pool comes with a diving pool or slide, home owners can avail insurance of $714 and $721 respectively.Although most of these factors are not in your control, there are other factors such as credit score, you can control. Credit score is a rating calculated and used by insurance providers that represents the chances of an individual filing a claim while under coverage.Homeowners with high credit scores are likely to get lower rates from the Insurance companies.
Homeowners in Lansing, Michigan, pay an average home insurance rate of $680. However, the cost of home insurance in Lansing varies widely depending upon several variables. Homeowners need to understand these factors in order to reduce their home insurance rates and pick the cheapest home insurance company.
Home insurance providers consider different parameters before determining home insurance rates. As a result, the quotes offered to homeowners differ from one insurance company to another. Lansing homeowners are advised to compare quotes from multiple home insurance companies to choose the cheapest one for their coverage requirements.
Deductibles Vs. Home Insurance Rates
Home insurance companies provide homeowners with the option of choosing a deductible based on their needs. Homeowners can reduce their home insurance rates by paying a one-time high deductible. The percentage of reduction in home insurance rates for a given deductible differs from one insurance company to another. Lansing homeowners are recommended to choose the home insurance company that offers the highest price reduction for their deductible.
Home insurance agents work with homeowners to understand individual needs and suggest appropriate add-on policies. These policies are in place to cover items or damage caused due to specific reasons. The add-on policies include pet insurance, flood insurance, collectibles insurance, and earthquake insurance.
Home insurance companies offer numerous discounts to homeowners to help lower the cost of insurance. Apart from the lifestyle choices of residents, home insurance companies also offer discounts based on the safety measures implemented by homeowners. Considering the specific features of their home, Lansing homeowners are advised to choose the home insurance company that offers the highest discount for their coverage needs.
Claims History of Homeowners
If home insurance companies find repetitive claims or a pattern in filing claims, the home insurance rates for such homeowners can increase drastically. On the other hand, homeowners receive discounts on home insurance rates if they have a claims-free history. Lansing homeowners should choose home insurance companies that are liberal in determining home insurance rates based on the claims history.
In Lansing, MI, homeowners pay an average homeowner’s’ insurance of $717 per annum. Vhome’s analysis reveals that Lansing homeowners can save up to $290 by choosing the cheapest home insurance company according to their needs.
Chubb quoted an insurance rate of $468 for a Lansing home built in 1985, on a policy coverage ranging between $75,000 to $100,000 for a $500 deductible. Lansing homeowners can further lower their home insurance costs by opting for a higher deductible.
Liberty quoted an insurance rate of $612 for a Lansing home built in 1950, on a policy coverage ranging between $200,000 to $250,000 for a deductible rate of $5,000 to $10,000. Liberty makes its quotes very competitive by offering numerous discounts such as multi-policy discounts, paperless discount, and protective devices discount.
Lansing homeowners who have a policy with Farmers pay an insurance rate of $660, on a policy coverage ranging between $25,000 to $50,000 for a deductible of $500. Farmers offers discounts to Lansing homes equipped with a security system that can establish a connection to local police. It also offers discounts to homes if all members of the household are non-smokers.
Lansing homeowners who have a policy with Safeco pay an insurance rate of $720, on a policy coverage ranging between $25,000 to $50,000 for a deductible of $2,000. Safeco offers discounts of up to 15% on multi-policies. It also offers discounts if Lansing homeowners pay their bills in full instead of monthly premiums.
State Farm quoted an insurance rate of $918 for a Lansing home built in 1944, on a policy coverage ranging between $150,000 to $175,000, for a deductible rate of $500. State Farm offers discounts to Lansing homeowners whose houses are equipped with safety devices and have impact-resistant roofing products.
|Lansing, MI Home Value||Total Homes||% of Total||Average Lansing, MI Homeowners Insurance|
|Less than $50,000||4,006||15.0%||$195|
|$50,000 to $59,999||1,398||5.0%||$420|
|$60,000 to $69,999||2,393||9.0%||$522|
|$70,000 to $79,999||2,460||9.0%||$601|
|$80,000 to $89,999||2,962||11.0%||$681|
|$90,000 to $99,999||2,850||10.0%||$761|
|$100,000 to $124,999||4,801||18.0%||$884|
|$125,000 to $149,999||2,608||9.0%||$1102|
|$150,000 to $174,999||1,328||5.0%||$1305|
|$175,000 to $199,999||746||2.0%||$1508|
|$200,000 to $249,999||426||1.0%||$1812|
|Home Insurance Company Near Lansing, MI||Homeowners Insurance Agency Near Lansing, MI||Address|
|NA||The Stark Agency, Inc||431 N Clippert, Lansing, MI, 48912|
|NA||Cadwallader Lord Hahn Incorporated||200 West Exchange Street, Owosso, MI, 48867|
|NA||Robin Chase Insurance Agency||2666 Jordan Lake St , Lake Odessa, MI, 48849|
|NA||W J Phillips, Inc.||6045 Corunna Rd. , Flint, MI, 48532|
|Liberty Mutual Independent||Michael Kirgis/A Ins Assoc||340 LOVELL ST, IONIA, MI, 48846|
|Streets in Lansing Area||Homeowners Insurance Cost|
|Centennial Way, Bridgeport Dr, Ravenna Trl, Williams Rd, Wildon Way W, Barretta Way, Portman Pl, Heathgate Dr, Ambassador Ave, Wellington Dr||$716|
|Sweetgrass Ln, Millett Hwy, Guinea, Blue Lagoon Dr, I- 69, Brickand Dr, Old Farm Ln, Arbor Vitae Dr, Vernon Dr, Rockingham Dr||$735|
|Hibiscus Ln, Pine Ridge Dr, River Cove Dr, Killarney Ct, Bobsyl Ln, Creekside Dr, Hart Hwy, Thornapple Ln, Jimson Dr, Madonna Dr||$776|
|Chellmar Dr, Truxton Ln, Ballinalee Ln, Echo Ln, W Mt Hope Ave, Westshire St, S Arlington Dr, Barnett Cir, Chubby Dr, Hidden Pond Dr||$753|
|Glen Terra Dr, Vicksburg Dr, Vermillion, Apple Blossom Ln, Cornerstone Dr, Woodlane Dr, W Greenfield Rd, Prestwick Dr, Legend Woods Dr, Newberry Dr||$782|
|Countryside Dr, Royal Cove Dr, Kelly Ln, Yellowstone Ln, Saxon Dr, Courtland Dr, Williamsburg Rd, Westhill Dr, Huckleberry Ln, E Mount Hope Hwy||$780|
|Central Cir, Ryder Rd, Dove Ln, Burt Hwy, Marketplace Blvd, Lanac St, Ellstone Cir, Audrey Ln, Pebble Pl, Doe Pass||$772|
|Centerline Dr, Wild Spirit Dr, Steeplechase Way, Roaring Brook Cir, Gold Fields Dr, Jordan Ct, Bridge Hwy, Old Castle Cir, Ember Glen Pass, Woodbridge Dr||$772|
|Hartland Dr, Bittersweet Ln, Firwood St, Gettysburg Dr, Delta Market Dr, N River Hwy, Pares Rd, E Libbie Dr, Merryman Way, Wheatdale Ln||$773|
|Meade Dr, Seaway Dr, Rockbridge Rd, Municipal Way, Teller Trl, Sandpiper Ln, Dickson Rd, Hearthstone Rd, Coneflower Ct, Granger Dr||$774|
|Place||Savings For Senior Occupied Homes|
|Lansing||$108 to $110|
|Place||1 Car Bundle Savings On Insurance||2 Car Bundle Savings On Insurance||3 Car Bundle Savings On Insurance|
|Lansing charter township, Ingham County, Michigan||$92||$123||$184|
|Edgemont Park CDP, Michigan||$92||$123||$184|
|Waverly CDP, Michigan||$95||$127||$190|
|Place||Home insurance as a % of housing cost for homes with mortgage||Home insurance as a % of housing cost for homes without mortgage|
|Lansing Home By Monthly Rent||Total Homes||% of Total||Estimated Monthly Income To Afford Rented House Including Renters Insurance|
|Less than $200||647||3.0%||$361|
|$200 to $299||856||4.0%||$811|
|$300 to $499||2,247||10.0%||$1261|
|$500 to $749||8,485||40.0%||$1936|
|$750 to $999||5,449||25.0%||$2686|
|$1,000 to $1,499||3,016||14.0%||$3811|
|$1,500 or more||403||1.0%||$5461|
|Low Deductible||High Deductible|
|Yearly Lansing Homeowner Insurance Premium Example||$600||$400|
|Out of Pocket Expense During Claim||$1,100||$2,100|
|Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim||$5,900||$5,300|
|Net Savings to Lansing Home Owner from High Deductible Plan||$600|
|Scenario||Lansing, MI Home Replacement Value MORE than Home Value||Lansing, MI Home Replacement Value LESS than Home Value|
|Insurance Premium based on Replacement Value||$750||$500|
|Risk Exposure from Under Insuring Coverage||Unnecessary Home Insurance Coverage of $26,000||Risk Exposure from Under Insuring Coverage is $19,000|
|Premium Impact||Insurance cheaper by $100/year||Insurance costlier by $150/year|
|Insurance Company||Chubb Group of Insurance||Liberty Mutual||State Farm|
|Home Details||3 Beds, 2 Baths||5 Beds, 4 Baths||4 Beds, 2 Baths|
|Deductible||$500 Deductible||$5000 to $10,000 Deductible||$500 Deductible|
|Year Built||Home Value||Roof Type||Sqft||Number of Bedrooms||Deductible||Premium||Premium Months||Siding Type||Smoker/Non Smoker|
|1964||85,000||Composition Roof||1,260||3||$1000-$2500 Deductible||130||4||Stucco siding||yes|
|1981||105,000||Tile Roof||1,560||5||$500 Deductible||400||10||Stone Siding||yes|
|1952||155,000||Asphalt Shingles Roof||2,010||3||$2500-$5000 Deductible||350||7||Vinyl siding||No|
|1949||110,000||Metal Roof||1,650||3||$500 Deductible||160||5||Brick siding||No|
|1988||115,000||Composition Roof||1,930||4||$2500-$5000 Deductible||180||5||Stone Siding||yes|
|1943||100,000||Membrane Roof||1,420||2||$500- $1000 Deductible||40||1||Fiber-Cement Siding||No|
|1948||155,000||Membrane Roof||2,030||4||$500 Deductible||450||6||Stucco siding||yes|
|1973||115,000||Wood Shake Roof||1,510||2||$1000-$2500 Deductible||110||3||Brick siding||No|
|1959||210,000||Asphalt Shingles Roof||2,700||4||$500- $1000 Deductible||670||7||Stucco siding||No|
|1956||115,000||Slate Shingles Roof||1,740||4||$500- $1000 Deductible||340||7||Fiber-Cement Siding||No|
|1963||120,000||Asphalt Shingles Roof||1,860||3||$500- $1000 Deductible||250||6||Stucco siding||No|
|1984||135,000||Wood Shake Roof||2,100||4||$500- $1000 Deductible||110||3||Vinyl siding||yes|
|1971||170,000||Shingles Roof||2,810||4||$500- $1000 Deductible||460||7||Stucco siding||No|
|1942||130,000||Membrane Roof||2,260||5||$1000-$2500 Deductible||50||1||Stone Siding||yes|
|1955||325,000||Metal Roof||4,410||5||> $10,000 Deductible||670||10||Stone Siding||yes|
|1948||75,000||Tile Roof||1,110||2||$500 Deductible||170||4||Brick siding||yes|
|1983||260,000||Composition Roof||3,610||5||> $10,000 Deductible||440||8||Stucco siding||No|
|1958||85,000||Membrane Roof||1,350||2||$1000-$2500 Deductible||110||6||Stucco siding||No|
|1954||105,000||Shingles Roof||1,520||3||$2500-$5000 Deductible||120||4||Brick siding||yes|
|1960||160,000||Slate Shingles Roof||2,210||5||$500- $1000 Deductible||860||12||Stone Siding||yes|
|1967||125,000||Composition Roof||2,090||4||$1000-$2500 Deductible||350||8||Stucco siding||No|
|1989||130,000||Slate Shingles Roof||2,300||3||$2500-$5000 Deductible||320||9||Fiber-Cement Siding||No|
|1951||135,000||Tile Roof||1,920||3||$2500-$5000 Deductible||460||8||Vinyl siding||yes|
|1984||75,000||Asphalt Shingles Roof||1,120||2||$2500-$5000 Deductible||20||1||Wood siding||yes|
|1961||85,000||Metal Roof||1,600||3||$2500-$5000 Deductible||40||1||Brick siding||No|
|1975||105,000||Asphalt Shingles Roof||1,670||3||$500 Deductible||40||1||Wood siding||No|
|1944||170,000||Asphalt Shingles Roof||2,210||3||$1000-$2500 Deductible||370||6||Stone Siding||No|
|1967||315,000||Asphalt Shingles Roof||4,710||5||$500 Deductible||260||2||Stone Siding||yes|
|1970||110,000||Tile Roof||1,490||2||$500- $1000 Deductible||220||8||Wood siding||yes|