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Homeowners Insurance coverage in 48098

If you are a homeowner in 48098 or Troy, MI you can now easily shop for homeowners insurance from the comfort of your own home. Check out GetHomeInsuranceQuotes.com and we will provide you with up to 12 insurance rate quotes from a variety of national insurance companies, making sure that you get the best premium quotes in Troy.

Our service is always free so join the thousands of homeowners who have shopped for coverage, compared a variety of quotes and purchased a great policy using our site. Enter your zip code now and start shopping for a brand new homeowners policy.

Compare rates and find the best homeowners policy in 48098.

Learn more about our homeowners insurance shopping service by selecting the best Troy, MI Home Insurance Quotes Online.

What is the Average Home Insurance Rates in 48098?

Residents of Troy have found that shopping online for homeowners insurance coverage saves them not only time but money as well. So what is the average rate for homeowners insurance in Michigan? While Michigan is not the cheapest state in the country when it comes to homeowners insurance, it does rank fairly well. According to industry data, Michigan comes in at 36 in the country for homeowners insurance premiums.

If you are living in 48098 zipcode, expect to pay around $723 for homeowners coverage compared to the national average of $1,249. It’s important to remember that these figures are averages and your own premium may be higher or lower depending on your personal factors.

Average rates listed here are based on a standard homeowners insurance policy, which protects your home, personal possessions, liability protection, loss of use and even medical payments. As with most standard homeowner insurance policies, coverage in Troy does not offer protection against flood damage. If you live within a flood zone, a separate flood insurance policy may be required.

Get started now and our agents will help you determine what coverages your need and the ideal coverage levels for your particular situation.

48098 Home Insurance Average Premiums

Local 48098 homeowners insurance quotes comparison

$473 /yr.

Shows Zip Code: 48098 lowest rates with discounts applied on average.

For the 48098, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)
$473 /yr.
Average Coverage:$723 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1023 /yr.

What is the average home insurance cost for a home in 48098?

  • • The average homeowners insurance premium paid annually for a home in 48098 is around $723 per year.

What does it cost on average per month for home insurance in 48098?

  • • Homeowners in 48098 pay a monthly average cost per month around $60.00.

What kind of discount could I get if I combine my home and auto insurance together in 48098?

  • • Autoowners in 48098 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Troy area, check out other zip codes nearby 48098.
Review average rates in another zip code:
48098 homeowners insurance rates
48085 homeowners insurance rates
48083 homeowners insurance rates
48084 homeowners insurance rates

Home Replacement Cost Coverage in 48098

Average Building Cost Per Square Foot in 48098: $132

Location: Troy, Michigan (Oakland County)

Average Square Footage in 48098: 3,211 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 48098 before you start any project. Troy homeowners pay on average around $132 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 48098 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 48098 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 3,211 sq. ft. and the average cost to rebuild the home in this area is around $132 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Troy area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$1323,211$423,900
Additional Upgrades & Added Features$1653,211$529,875
Major Home Updates or Advancements$1983,211$635,850

It's important to understand that when you estimate your replacement cost of your home in the 48098 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 48098

H. Wayne Price Jr. Agency

Address: 1897 South Blvd W Troy, MI 48098
Phone: (248)879-9299
Website:

Allstate Insurance - Maria Olivan

Address: 1977 E. Wattles Rd Unit C Troy, MI 48098
Phone: (248)524-3840
Website:

Best Home & Auto Insurance Agencies in 48098

Allstate Insurance - Maria Olivan

Address: 1977 W Wattles Rd Troy, MI 48098
Phone:
Website:
Info:

Allstate Insurance Company - Eric Terrien

Address: 1921 South Blvd W Troy, MI 48098
Phone:
Website: http://www.allstateagencies.com/082644?cid=OTC-YP.com-IYP&att=TL
Info:

Nationwide Insurance

Address: 901 Tower Dr Troy, MI 48098
Phone:
Website: http://www.nationwide.com
Info: Nationwide Insurance - Auto Insurance Quotes and Car Insurance Rates
Start saving on car insurance today when you get a free online auto insurance quote or call (888)890-4630. Enjoy the ease of working with Nationwide for your auto insurance needs and our competitive auto insurance rates. car insurance, auto insurance, online auto insurance, auto insurance rates, car insurance quote

Fadia Abushukur-Farmers Insurance

Address: 70 W Long Lake Rd, Ste 119 Troy, MI 48098
Phone:
Website:
Info:

Allstate Insurance Company - Mark Smith

Address: 4979 Livernois Rd Troy, MI 48098
Phone:
Website: http://www.allstateagencies.com/028833?cid=OTC-YP.com-IYP&att=TL
Info:

Housing Demographics for 48098

Population Review for 48098 Zip Code

For the city of Troy, the population within 48098 has increased to over 20,852 residents in population size. The current population total is 20,349. We have broken down the population based on race below. In 48098, there are over 10046 in male population and 10303 females.

PopulationValues
Total Population20,349
White Population12470
Black Population542
Hispanic Population532
Asian Population6204
Hawaiian Population1
Indian Population15
Other Population118
Male Population10046
Female Population10303
Population Estimate20852

Household Data for 48098

The average number of homes in 48098 is around 7,240, there are an average of 2.79 per household. The average house value according to local real estate values is around $423,900. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode7,240
Persons Per Household2.79
Average House Value$423,900
Income Per Household$149337
Median Age46.3
Median Age Male45.6
Median Age Female46.8
48098 DetailsValues
StateMI
State Full NameMichigan
City TypeP
City Alias Abbreviation
Area Code248
CityTroy
City Alias NameTROY
CountyOakland
County FIPS125
State FIPS26
Time Zone5
Day Light SavingY
MSA2162
PMSA2160
CSA220
CBSA19820
CBSA_DIV47664
CBSA_TypeMetro
CBSA_NameDetroit-Warren-Dearborn, MI
MSA_NameDetroit-Ann Arbor-Flint, MI CMSA
PMSA_NameDetroit, MI PMSA
RegionMidwest
DivisionEast North Central
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses726
Number Of Employees27162
Business First Quarter Payroll787174
Business Annual Payroll2698841
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population4296250
CBSA Division Population2475666
Congressional District11
Congressional LandArea419.26
Delivery Residential7474
Delivery Business475
Delivery Total7929
Preferred Last Line KeyY12991
Classification Code
Multi-County
CSA NameDetroit-Warren-Ann Arbor, MI
CBSA_DIV_NameWarren-Troy-Farmington Hills, MI
City State KeyY12991
Land Area9.399000
Water Area0.017000
City Alias Code
City Mixed CaseTroy
City Alias Mixed CaseTroy
Box Count0
SFDU6959
MFDU190
State ANSI26
County ANSI125
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number259380
Unique ZIP Name
SSA State County Code23620
Medicare CBSA Code47664
Medicare CBSA NameWarren-Troy-Farmington Hills, MI
Medicare CBSA TypeMetro
Market Rating Area ID2
County Mixed CaseOakland

Michigan Homeowners Insurance News & Information

  • 2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024

    According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges.  Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]

  • What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024

    A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly.  The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]