Michigan residents aren’t required to carry homeowners insurance by law. However, many lenders may still require that homeowners purchase this insurance as a way of protecting their investment-your home. Michigan is also a state that has no regulation of rates when it comes to homeowner’s insurance. This means that insurance companies can set their rates without having to abide by any state regulations. Home insurance reform has impacted states like Florida and Colorado and created change in the way insurance companies can operate as well as how much homeowners pay for insurance. If anything, Michigan residents aren’t faced with a lot of guidelines and requirements when it comes to home insurance. Michigan doesn’t require homeowner’s insurance and home insurance companies aren’t regulated by the state. This is one of the reasons why home insurance reform may not impact Michigan residents as much as it has impacted others in other states.

Michigan Homeowners Insurance Laws

Guy Hurley McNeil is committed to providing understanding and guidance to Rochester Hills, MI residents when it comes to homeowner’s insurance. Because this type of insurance isn’t required in the state of Michigan by law, it’s intensely important that insurance agents guide and advice residents about the type of coverage and insurance that is truly best for their unique situation. If you’re a Michigan resident that’s purchasing a home, most lenders will require that you carry homeowner’s insurance. This is a smart way of protecting their investment int the event of some unforeseen circumstance. If you are financing your home or condo, many lenders will still require you to carry this type of insurance. 

If You Fail to Purchas Homeowners Insurance

If a lender requires you to carry homeowners insurance proof of insurance will be required. If you fail to purchase homeowner’s insurance As a homeowner who is financing their house or condo, the lender has the right to buy the insurance on your behalf and take payments for this insurance through an escrow account. Although this type of insurance isn’t a requirement, homeowners will more than likely still have to invest in it because most homeowners can’t pay for their home outright, they have to finance their home through a lender. Home insurance reform hasn’t impacted the way insurance companies do business in Michigan because this type of insurance isn’t regulated by state law and its not a legal requirement. This makes it necessary for homeowners to carefully compare insurance companies and choose the one that best suits their budget and their unique needs. 

Many homeowners in Rochester Hills, MI, have a basic understanding of home insurance. They understand that home insurance pays for accidents that result in home damage.  However, insurance companies today like Guy Hurley McNeil focus on very many aspects of your home insurance policy to ensure that you are adequately covered. Here are five covered losses that you may not know about.

1. Lawn and landscaping

Did you know that your lawn is covered under home insurance? You are entitled to compensation if a fire started and burnt all your grass or someone drove their car and tore grass. If you did not know, shrubs, trees, and other plants are covered under home insurance.

2. Spoiled food

Whether you’re keeping vegetables or canned food, home insurance covers for spoiled food in case power goes out for too long. Your insurance company should replace the food every time you file a claim for rotten food. However, if it was your fault that the food went bad, don’t bother filing a claim.

3. Terrorist attack

While home insurance covers burglaries and vandalism, very little is said about terrorism, and it still remains an isolated peril.  For as long as the country is not at war, your insurance company should reimburse you for damages caused due to terrorist attacks.

4. Items stolen from your car or office

Did you know that your auto insurance does not cover the items that get stolen while there? Well, if you lose your laptop that was in your car, you will not report to your car insurance but your home insurance company.

We hope you have learned a few things about home insurance. If you have any questions, feel free to reach us at Guy Hurley McNeil in Rochester Hills, MI today!

In most cases, unless your mortgage lender requires it, carrying home insurance is a choice, not a must. When it is not required, people often wonder why they need it and whether they should add on another monthly bill. Here at Guy Hurley McNeil insurance, we want to be sure you know how big of an impact home insurance can make on your life.

Your home is likely your biggest financial investment. If something were to happen to you Rochester Hills, MI home, could you afford the cost to rebuild or buy another home? If a fire broke out and burned down your home, what would happen to your family? Do you have an alternative place to live? Would you be able to pick the pieces of your life back up?

In most cases, the answer is “no”. As homes are such large investments, they can be difficult to replace and rebuild. Though it is not required by law, home insurance is a form of protection that most people cannot do without. In the case of a covered event, your home insurance can cover the costs of the damage or the cost to buy a new home.

Home insurance is something like a savings account that has funds for particular events. You pay your premiums each month. If a covered event occurs, your insurance company will withdraw some of your savings- your policy coverage- to take care of the costs associated with the event.

You may not be required to carry home insurance, but it is something you should seriously consider. There are policies to choose from that can help you bounce back from events such as fire, storm damage, theft, and more. For Rochester Hills, MI residents, give Guy Hurley McNeil a call or stop by today! We can help you personalize your policy to get the coverage you need. 

 

If you’re just about to get home insurance for a new house or when your situation or property changes, it’s a good idea to know what types of additional coverage would benefit you the most. An agent at Guy Hurley McNeil of the Rochester Hills, MI area can help.

Why an Insurance Rider Might be Right for You

An insurance rider, also known as an endorsement or floater, is an add-on to your home insurance policy (or any insurance). It acts to amend the basic policy. When you get a rider, you’ll increase coverage limits, as well as expand or extend protection on a specific property for additional perils. 

Higher Limits for Personal Property 

If any of your personal belongings were to be stolen or damaged in your home or on your person while you’re traveling, it ordinarily would be covered by a basic home insurance policy. However, it may only be for $1,500 or another amount that doesn’t cover higher-ticket valuable items like expensive jewelry or antiques. Some riders allow you to increase the personal property coverage limit for specific items for which there is a higher risk. 

Check Back with Your Insurance Agent Often

It’s in your best interest to sit down with your insurance agent about once a year to discuss any new options or changes with your home or new personal property. They’ll be able to explain coverage gaps and help you figure out the best floaters to fit your needs. 

Here at Guy Hurley McNeil, we’ll be able to assist you with your home insurance coverage questions and concerns. Serving the Rochester Hills, MI area, we’re dedicated to all of our clients.

How well prepared is your home for emergencies?

In order to keep your home in good standing in terms of your coverage from Guy Hurley McNeil, it’s essential to prepare for any emergency that could strike from a natural disaster or otherwise. Here are some tips to use when keeping your Rochester Hills, MI home safe.

1. Keep Your Electricity Up To Code

Is your electrical system up to code? Make sure that all of your outlets and wires are properly secured. For instance, none of your wall outlets should be loose, and you shouldn’t overload any of your outlets with too many appliances plugged into one.

Also, remember that extension cords are meant for temporary use only. Furthermore, you should refrain from running your wires under rugs or across the floor in any room.

If you are concerned about an electrical issue in your home, hire a licensed electrician who is authorized to work in Rochester Hills MI to fix it for you. Don’t attempt to fix or change your home’s electricity yourself.

2. Make Sure Your Foundation Is Secure

Is your home’s foundation secure? If you aren’t sure whether your home’s foundation can stand up to an earthquake or a tornado, you should hire a construction specialist to inspect it for you. Aside from that, do your best to keep your basement from flooding. If your home incurs structural damage over time due to a lack of maintenance and professional attention, it can be more vulnerable in the event of a natural disaster.

3. Maintain Your Home Regularly

When a house is maintained regularly, it is less prone to being damaged in a home emergency. For instance, make sure not to stockpile trash (such as unnecessary cardboard boxes) anywhere in your yard or storage space. ensure that your furnace and HVAC systems are clean and in good shape.

Keep all of your alarms (fire alarm and carbon monoxide alarm) in ship shape by testing them regularly and changing batteries as needed.

Do You Need Better Home Insurance Coverage?

If your home is well-maintained and kept in good structural form, it is less vulnerable to damage. However, emergencies can happen anytime. If you want to ensure that you’re fully reimbursed in case of a natural disaster or any other home emergency, talk to our friendly agents at Guy Hurley McNeil about your coverage. Let us help you find the kind of policy you feel safe at home with.

Many states provide incentives to homeowners through discounts in their insurance for improvements. In most situations, this includes upgrades to windows, roofing, or other structures around the home to make them more safe and durable by using new technology. After these changes are made, the homeowner in Rochester Hills, MI can contact an agent such as Guy Hurley McNeil and receive a credit on their insurance payments and the costs will go down. 

Alarm or security systems are one option that may lower insurance costs. Most policy providers look at the reduced risk of robbery or vandalism from surveillance and security systems as an important upgrade. This is because having to pay out for stolen valuables and property damage can be a huge expense for the insurance company. This can lower insurance costs by up to ten percent annually.  

Upgraded windows are another common source of savings. Many states have some risk of damage caused by wind, hail, or excessive amounts of rain and snow. When a window shatters and water damage occurs inside the house, the associated costs for repairs and replacements can be significant. Many modern stormproof windows are practically bulletproof, making them extremely unlikely to crack, which will create savings over the years. 

The roof is also another constant source of concern for homeowners. Shingles and tiles are subject to exposure to sunlight, rain, snow, and all kinds of weather throughout the year. A roof also needs to be repaired regularly to prevent leaking and other forms of damage inside the house. Roofing can be expensive, but a homeowner can definitely recoup some of the prices through discounts.

For more information about homeowner’s insurance, contact Guy Hurley McNeil. This agent serves Rochester Hills, MI and surrounding areas. 

If you’re looking for home insurance in Michigan, there are a few ways you can easily save money on your premium. At Guy Hurley McNeil, we serve the Rochester, MI area and are available to help you find the right home insurance while saving you money. Read on to learn more.

Bundle Your Policies

Chances are you already have an insurance policy. Whether you have auto insurance, motorcycle insurance, or even life insurance, the trick is to bundle your policies together under one insurance company to save money on your premiums. Insurance companies love to reward loyal customers and this is just one way they go about it.

Compare Quotes

When it comes time to protect your home, a very important asset, you’ll want to choose the best policy by comparing at least two or three quotes from different insurance agencies. Not all quotes will carry the exact same coverage, deductibles, and premiums. That’s why it’s important to compare quotes to find the right coverage at the right price for your exact home insurance needs.

Work with a Reputable Agent

While the above tips seem straight forward, it is best to work with a reputable agent that will help you bundle and compare quotes to get the most out of your home insurance policy. A trusted, reputable agent will be able to help you with this step-by-step and answer any questions and concerns you may have along the way.

Are you ready to purchase home insurance in Rochester Hills, MI? If so, contact the team at Guy Hurley McNeil. They serve this area and are available now to help you purchase home insurance. Call today.

 

Winterizing your Home

Protecting your home from the winter weather can also help protect yourself from home insurance claims in Rochester Hills, MI.

• Protect Pipes: Frozen pipes can lead to thousands of dollars in flood damage. An easy way to protect your home from water damages it to prevent pipes from freezing in the first place. Wrap any crawl space and basement pipes with insulation and be sure to cover any exposed pipes. Open cabinet doors to let warm air flow around them and let the faucet drip to keep water moving.
• Install a Carbon Monoxide Detector: Furnaces and other heat sources can leak carbon monoxide and, if not properly ventilated, can be deadly. Protect your family by having a carbon monoxide detector on each floor of the home.
• Clean Storm Drains and Gutters: Regular cleaning of any storm drains or gutters can help prevent ice buildup, cracking gutters, and any melting snow that leaks into the basement. If you are paying to get your gutters cleaned, contractors will also do a check up on the roof, which is also good.
• Seal Air Leaks: Sealing air leaks will help keep the warm air in the home and save on energy costs.
• Use Fiber Cement Siding: Fiber cement siding isn’t only good for winter months, but in the winter it can help combat the extremely cold temperatures and is five times thicker than vinyl siding. In the other seasons, it helps resist mold and moisture and is resistant to pets and fire damage.
• Trim Branches: Trim branches away from the roof or hire a tree removal service to get rid of any branches that could be a threat to the home, driveway, and yard.

Ask an agent at Guy Hurley McNeil if you get any discounts from winterizing your home. Contact Guy Hurley McNeil, serving Rochester Hills, MI, to get a quote on home insurance. 

There’s no question that theft can be a devastating event for homeowners. After all, your home is full of items that are both monetarily valuable, but that also hold emotional value for you and your entire family. This is why it is so important for you to purchase the right homeowner’s insurance policy from a reputable insurance company to protect your home in Rochester Hills, MI. The team at Guy Hurley McNeil can help you achieve this.  

If you have ever experienced a break-in or theft, it’s important you contact the police immediately. Once you have done this, contact your insurance company.

Coverage for Theft

A typical homeowners policy includes coverage for all of your personal property. Any loss resulting from theft is usually included as a part of the protection you receive for personal property. What this means is if an intruder breaks into your home and steals valuable items, then your insurance will cover it once your deductible has been met.

The majority of policies will also provide coverage for your items even if they are away from home and stolen; however, there are some limitations to this. It’s essential to fully understand the scope of your policy to determine what is and is not covered.

Purchasing Insurance that Protects Your Valuables

It is imperative that you purchase the right insurance policy for your needs. Take some time to speak to a reputable insurance agent to find out the type of coverage you need to ensure your home and belongings are fully protected from theft of any kind. By doing this, you will have greater peace of mind.

To purchase insurance to protect your home or belongings or to have your questions answered, contact Guy Hurley McNeil, who serves the Rochester Hills, MI area today.

 

If you own your home, you probably understand that your home insurance policy covers the damage or loss of your home. What about all of the items inside the house, your personal property? Well, in Michigan, that is covered by your home insurance policy too.

Guy Hurley McNeil Insurance & Surety Services in Rochester Hills, MI provides home owner’s insurance to the entire state of Michigan.

Types of Home Owner’s Insurance

There are two main types of home owner’s insurance in Michigan. They are:

• Broad coverage (HO-2)
• All Risk coverage (HO-3)

A broad policy covers damage from specifically listed perils while an all-risk policy, the most common type, covers the home from all risks other than those that are specifically excluded. All risk policies generally include the contents of the house and your personal property against perils that are covered like those in broad coverage. Broad policies are also referred to as “named peril” policies as the risks protected against are designated within the policy.

A typical policy has seven significant parts that are denoted by consecutive letters, A through G. The section dealing with your personal property is part C. Each section has its own exclusions and limitations and needs to be carefully understood to ensure that the protection you have is the protection you need.

On-Premises or Off-Premises

The protection extended to your property does not end when it leaves your home. This coverage may have further limitations than those for your items while on-premise.

Furthermore, certain items are considered “special items.” These items have specific limits and may need additional coverage. Special items may include:

• Furs
• Computers and electronics
• Jewelry
• Cash

Having an inventory of your property can help you to ensure you get the right coverage.

For more information, give Guy Hurley McNeil Insurance & Surety Services a call at 586-731-1180 or stop by our offices in Rochester Hills, MI today.