Mike Arnold Agency
5570 Richmond Rd, Suite 102, Troy, VA 22974
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Troy households and business owners trust local agents to navigate carrier appetite shifts, underwriting requirements, and the claims process.
Compare local agents, coverage options, and specialties to find the right fit for your insurance needs.
5570 Richmond Rd, Suite 102, Troy, VA 22974
View this agency's profile to learn more about their services.
Learn about insurance coverage options specific to Troy residents.
Troy drivers pay $1,450-$2,780/year for auto insurance. Learn how Michigan's no-fault reform affects your coverage and how to save on premiums in 2025.
Troy benefits from exceptionally low crime rates, excellent municipal services, and strong infrastructure, which reduce risk for insurers. The city ranks as one of the safest in Michigan with an A+ rated school system and well-maintained public safety departments. These factors result in average premiums of $687-$933 annually, significantly below Michigan's state average of $1,853.
Yes, standard homeowners insurance typically covers damage caused by ice dams, including roof damage, water damage to walls and ceilings, and structural repairs. However, coverage only applies if you've properly maintained your home by ensuring adequate insulation, keeping gutters clear, and maintaining proper ventilation. If the ice dam hasn't caused damage yet, your insurer likely won't pay for its removal.
Frozen pipe damage is typically covered by homeowners insurance, but only if you took reasonable precautions to prevent it. This means keeping your home heated to at least 65 degrees, insulating vulnerable pipes, and winterizing your plumbing before leaving. If your insurer determines you neglected basic maintenance, they can deny your claim.
Your dwelling coverage should match your home's replacement cost, not its market value. For Troy's upscale neighborhoods, this often means $400,000 to $800,000 or more in coverage. Replacement cost reflects current construction prices, materials, and labor—all of which have increased significantly due to inflation. Review your coverage annually and increase limits as construction costs rise.
Michigan law doesn't require homeowners insurance, but your mortgage lender will require proof of coverage before closing on your loan and throughout the life of your mortgage. Even if you own your home outright, insurance is essential protection given Michigan's severe weather risks and potential liability exposure.
Michigan saw a 14% average increase in home insurance rates in 2024, ranking third-highest in the nation. The increases stem from more severe weather events (six major winter storms in 2023-24 versus 2.4 per year historically), increased construction costs due to inflation, and rising claims from wind, hail, and water damage across the state.
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