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The beauty of a condo is that it offers you the chance to own your very own place while sharing expenses like insurance and maintenance with other owners. You also get all sorts of amenities, making this an excellent investment.

Condo insurance is necessary for those who live in a condominium and it's better than just having insurance from the homeowners association. You want to make sure that you are fully covered in case of an emergency, and that your policy will protect you from any potential damage.

Read this guide to know about the best condo insurance companies in Michigan, average condo insurance cost, the most and least expensive zip codes for condo insurance, and condo insurance rates by carrier.

Best condo insurance companies in Michigan

In Michigan, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across Michigan. Below are the best condo insurance companies in Michigan based on Insurance.com's analysis.

  • USAA
  • State Farm
  • Auto-Owners
  • Allstate
  • Safeco

Compare best condo insurance companies in Michigan

When it comes to finding the best condo insurance company in Michigan, it can be difficult to know where to start. There are a lot of different options out there, and it can be hard to figure out which company is the right fit for you.

That's why we've put together a list of the best condo insurance companies. We've compared the insurance providers based on their J.D. Power score and AM Best rating to help you make the right decision.

Among the carriers surveyed, USAA scored the highest J.D. Power score, it has earned 882 scores out of 1000 and A++ ratings from AM Best. However, USAA only offers services to military officials, veterans and their families. If you don't qualify for condo insurance from USAA, you can purchase an insurance policy from State Farm. It has received 835 scores out of 1000 from J.D. Power and AM Best rated it A++.

Compare insurance carriers and their ratings to choose the one that best suits your needs.

CompanyJ.D. Power scoreAM Best rating
USAA882A++
State Farm835A++
Auto-Owners831A++
Allstate829A+
Safeco810A

Average cost of condo insurance in Michigan

Condo owners in Michigan pay an average of $592 a year or $49 monthly for insurance coverage of $40,000 in personal property coverage, $100,000 in liability coverage, and $1000 as deductible. There are several factors that affect the price of condo insurance. The size and value of the condo are two key factors, as larger and more expensive condos will tend to have higher premiums.

As with most types of insurance, the best way to get a low rate on condo insurance is to shop around, compare quotes and coverage options from different providers. By comparing rates, you can find the policy that best fits your needs and budget.

Average annual premiumAverage monthly premium
$592$49

CONDO INSURANCE CALCULATOR

Average condo insurance rates in MICHIGAN

$60,000
$1,000
$100,000
48227 - Detroit
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $1,120

HIGHEST RATE: $4,910 LOWEST RATE: $298
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Most & least expensive zip codes for condo insurance in Michigan

Most Expensive

Zip CodeCityHighest Rate
48227Detroit$1,120
48238Detroit$1,114
48228Detroit$1,111
48204Detroit$1,107

Least Expensive

Zip CodeCityLowest Rate
49321Comstock Park$567
48109Ann Arbor$567
48642Midland$571
49931Houghton$571

Condo insurance rates by companies in Michigan

Based on Insurance.com's rate analysis, Allstate is the cheapest condo insurance company in Michigan. Its average annual premium for Michigan residents is $332---$260 less than the state average ($592).

While the cost of condominium insurance will vary depending on your insurance provider, location, the coverage limits, and the deductible amount you choose. It's important to compare rates from multiple insurance companies to ensure you're getting the best deal.

Below are the companies that provide the most affordable condo insurance policies to Michigan residents along with their average annual premium.

CompanyAverage annual premium
Allstate$332
Farm Bureau$360
State Farm$417
Memberselect$433
USAA$507
Safeco$544
Citizens$919
Auto Owners$946
Fire Ins Exch$1,287