To facilitate the entitled people through property insurance, Michigan association came in to existence. Actually it facilitates those entitled persons who are not capable of acquiring insurance from the regular market. Qualified personalities can also get insurance by Michigan policy. Basically as HO-2 used by other insurance companies, Michigan is also same to that.
Every person who is the owner of some property or live on some personal property, that fulfills the requirements of Michigan policy can avail the services of it. The property that meets the requirement of Michigan basic property insurance includes residential apartments or the building that fulfill the building code principles. It also facilitates those apartments or buildings that are not in use of business or any illegal activity.
Whenever you apply for Michigan Basic property Insurance, an agent of Michigan Basic Property Insurance Association would come and examine the property. Agent of Michigan Basic Property Association will take an estimates of your property to check that it cover the requirements or not. Such estimation does not charge the owner of the property as it is an expense of Michigan basic property Insurance Association.
If your property doesn’t meet the requirements of Michigan Basic Property Insurance or the agent finds that your property is not qualified for their policy, a written description as why it happened given to you, including that what measures you have to get in order to be qualified.
Policies of Michigan Basic Property Association:
The main feature of their policy is that, it is renewable. Renewals of Michigan Basic Property Policy can be done with in the period of two years. Replacement costs are also bear by Michigan Basic property Policy.