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48374, MI Home Insurance

In the zip code of 48374, the population size is around 18,008, which consists of 5,847 occupied homes in your area. We often hear homeowners ask us what the average home insurance premiums are for residence living in Novi, MI. A few years ago, a study was done and found that the average home insurance rates for Michigan are around $795 per year for a standard homeowners policy. At GetHomeInsuranceQuotes.com, we help homeowners find cheaper rates and better coverage for an existing or new home purchase opportunity. We have partnered with 12 major home insurance companies that have the most competitive rates for homes in the 48374 zip code location. Our savings model helps you not only save up to 40% or more, but also includes enhanced coverage options to help protect your home and family while livings in Novi. If you enter your zip code for the home you would like to shop and compare rates for today, we can help you review the premiums and coverage online or over the phone. Give us a call now at 1-855-976-2656 so we can help you compare rates today!

If you would like to review more information on rates within your area, please click Novi, MI Homeowners Insurance Online Rates Today!

48374 Home Insurance Average Premiums

Local 48374 homeowners insurance quotes comparison

$545 /yr.

Shows Zip Code: 48374 lowest rates with discounts applied on average.

For the 48374, 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)
$545 /yr.
Average Coverage:$795 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1095 /yr.

What is the average home insurance cost for a home in 48374?

  • • The average homeowners insurance premium paid annually for a home in 48374 is around $795 per year.

What does it cost on average per month for home insurance in 48374?

  • • Homeowners in 48374 pay a monthly average cost per month around $66.00.

What kind of discount could I get if I combine my home and auto insurance together in 48374?

  • • Autoowners in 48374 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 Novi area, check out other zip codes nearby 48374.
Review average rates in another zip code:
48374 homeowners insurance rates
48377 homeowners insurance rates
48375 homeowners insurance rates

Home Replacement Cost Coverage in 48374

Average Building Cost Per Square Foot in 48374: $132

Location: Novi, Michigan (Oakland County)

Average Square Footage in 48374: 3,532 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 48374 before you start any project. Novi 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 48374 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 48374 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 3,532 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 Novi 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$1323,532$466,200
Additional Upgrades & Added Features$1653,532$582,750
Major Home Updates or Advancements$1983,532$699,300

It's important to understand that when you estimate your replacement cost of your home in the 48374 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 48374

Best Home & Auto Insurance Agencies in 48374

Housing Demographics for 48374

Population Review for 48374 Zip Code

For the city of Novi, the population within 48374 has increased to over 18,898 residents in population size. The current population total is 18,008. We have broken down the population based on race below. In 48374, there are over 8880 in male population and 9128 females.

PopulationValues
Total Population18,008
White Population10172
Black Population767
Hispanic Population658
Asian Population5749
Hawaiian Population0
Indian Population40
Other Population202
Male Population8880
Female Population9128
Population Estimate18898

Household Data for 48374

The average number of homes in 48374 is around 5,847, there are an average of 3.06 per household. The average house value according to local real estate values is around $466,200. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode5,847
Persons Per Household3.06
Average House Value$466,200
Income Per Household$158631
Median Age39.5
Median Age Male39.9
Median Age Female39.2
48374 DetailsValues
StateMI
State Full NameMichigan
City TypeP
City Alias Abbreviation
Area Code248
CityNovi
City Alias NameNOVI
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 Businesses352
Number Of Employees6219
Business First Quarter Payroll77903
Business Annual Payroll346642
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 District06|11
Congressional LandArea3546.74|419.26
Delivery Residential6176
Delivery Business249
Delivery Total8627
Preferred Last Line KeyY12491
Classification Code
Multi-County
CSA NameDetroit-Warren-Ann Arbor, MI
CBSA_DIV_NameWarren-Troy-Farmington Hills, MI
City State KeyY12491
Land Area9.073000
Water Area0.103000
City Alias Code
City Mixed CaseNovi
City Alias Mixed CaseNovi
Box Count0
SFDU4155
MFDU536
State ANSI26
County ANSI125
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number256920
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 […]