For a home in Lapeer, MI 48446. The House is 1600 Square feet, built in the 80’s. I was told on Yahoo!’s calculator I would need around 180,000 worth of coverage, but I dont know how to compute that into a monthly payment.

Thanks

 

  • coltqueen 7:03 am on December 6, 2009

    You will need to call around and get a few quotes; there is no way to determine the amount without having it quoted. Different states require different levels of coverage; the miles from your closest fire dept and the fire dept’s rating can affect your coverage cost. The amount of doors and deadbolts, the safety railings for stairs & steps, there are many many things to affect your costs. And even your credit score has an effect on what you will pay for insurance.

    I can tell you though that I have a 2,000 sq ft home in a rural area that is insured for $175K (that’s more than what we paid for it) and personal belongings through Erie Insurance for $545 per year.

  • golferwhoworks 7:03 am on December 6, 2009

    call an insurance agent in fact several and get quotes

  • hibbo_j 7:03 am on December 6, 2009

    I own a house worth about $175,000 in an urban area. We pay about $50 per month in HOI and $120 per month in taxes. This money goes in to an escrow account, and is included in our mortgage payment.

  • steve h 7:03 am on December 6, 2009

    monthly payment would vary from agent-company to agent-company.Wood frame as compared to brick also makes a difference.Also the amount of personal property coverage needed makes a difference.You need to shop around and take the best bargain.

  • mbrcatz 7:03 am on December 6, 2009

    It’s not that simple. It’s also based on your credit score and claims history, what the house is made of, and prior claims on the house, not to mention which policy form and coverages you’d pick.

    Budget $2000 a year. It should be under this.

  • Karla 7:03 am on December 6, 2009

    Try this site

    http://hinsurance.notlong.com

    here you can get quotes from different companies in MI.

  • Lisa 7:03 am on December 6, 2009

    There are too many factors. Call up the person who you have your car insurance with and ask for a home quote. Or call agents in your area for a quote. To give you an idea, i live in WI and pay $30/month for my home insurance for $150,000 of coverage on the dwelling with a $500 deductible.

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