Essential Coverage to Survive Michigan Winters

By: Larry Spears

Winter Insurance Setup for Michigan

A comprehensive guide for selecting the best insurance coverage for homeowners and drivers in Michigan during winter.

Homeowner Insurance Recommendations [0:31](https://loom.com/share/26a9ec58bf844f9dbc3247b71f37f6cf?t=31)

Replacement Cost on the Dwelling**: Ensure coverage is based on replacement cost rather than depreciation.

Replacement Cost on the Roof: Protect against depreciation on roof claims, which are common in winter.

Sewer and Drain Backup Coverage: Include this to avoid expensive surprises from system backups.

Deductible Selection: Choose a deductible between $1,000 and $2,000 that is manageable without causing financial chaos.

Ordinance and Law Coverage: Cover potential code upgrades during repairs that may not be included in standard policies.

Service Line Coverage: Protect against issues with lines between your home and the street, which can be exposed during winter.

Extended Replacement Cost: For higher value homes, this provides a margin if rebuild costs exceed expectations.

Auto Insurance Recommendations[2:05](https://loom.com/share/26a9ec58bf844f9dbc3247b71f37f6cf...)

Broad Form Collision: Opt for flexible collision coverage to handle winter accidents effectively.

Adequate Liability Limits: Ensure liability limits are sufficient to cover potential winter pileups.

Rental Reimbursement**: Include coverage for renting a vehicle while yours is being repaired.

- Towing and Roadside Assistance: Ensure coverage for roadside assistance to avoid being stranded due to winter conditions.

What to Avoid [3:03](https://loom.com/share/26a9ec58bf844f9dbc3247b71f37f6cf...)

ACV Roof Coverage: Avoid actual cash value coverage for roofs to prevent underinsurance.

High Deductibles Without Emergency Savings: Do not choose high deductibles if you lack emergency funds.

Bare Minimum Liabilities: Avoid minimum liability limits that can leave you exposed.

Skipping Sewer Drain or Water Backup Coverage: Do not forgo this coverage to save on premiums.

Cautionary Notes

- Always assess your financial situation before selecting deductibles.

- Review your current policies regularly to ensure they meet your needs, especially before winter.

Best Practice

Schedule a policy review with an insurance agent to identify gaps in coverage and have a checklist of recommended coverages to ensure nothing is overlooked during policy selection.

Link to the Video

<https://loom.com/share/26a9ec58bf844f9dbc3247b71f37f6cf>