If you own a condo or apartment building near the Michigan shoreline, chances are you’ve already felt the impact of severe storms and unpredictable weather. But here’s the real question: Is your insurance policy built to protect your investment from wind, hail, and hurricane-strength storms?
Many property owners think they’re covered—until it’s too late.
At Michigan Insurance Source Agency (MISA), we help coastal property owners throughout southeast Michigan navigate the confusing world of commercial insurance. This includes making sure you have the right coverage for the right risks, especially those unique to living near the water.
🌪️ Wind/Hail and All Other Perils (AOP) – What’s the Difference?
AOP (All Other Perils) coverage is great for fire, theft, and other unexpected damages—but in hurricane-prone or high-wind zones, wind and hail damage are often excluded unless specifically added.
Here’s what you need to know:
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Wind/Hail Insurance covers storms, tropical weather, and severe wind events.
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AOP policies often leave out wind damage in storm zones.
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The best coverage includes both AOP + Wind/Hail, tailored for coastal properties.
💰 Deductibles That Could Hurt
Did you know your wind or hurricane deductible might be a percentage of your building’s value?
For example, with a 2% hurricane deductible on a $1M property, you could be paying $20,000 out-of-pocket before your insurance steps in.
Let that sink in—because that’s money not covered unless you’re fully aware of your policy’s structure.
🏗️ The Dangers of Being Underinsured
According to industry data, 90% of buildings are underinsured, and 68% by at least 25%.
What does this mean for you?
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You may be paying lower premiums…
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But if disaster strikes, you’ll pay big to cover what your policy won’t.
Insurance to Value (ITV) is the solution. It ensures that your coverage reflects current rebuilding costs, updated property values, inflation, and renovations.
🔄 Replacement Cost vs. Actual Cash Value (ACV)
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Replacement Cost = Full payout to rebuild with like-kind materials.
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ACV = Depreciated payout, leaving you to cover the gap.
If you’re not sure which you have, you’re already at risk. Let’s change that.
🏢 Do You Have Business Income Coverage?
If your property can’t operate due to damage, how do you cover the lost rent or revenue?
Business Income (BI) coverage helps keep your operation afloat while you’re rebuilding—but many windstorm policies don’t include it by default. Ask us if your policy has this critical protection.
🚨 Don’t Wait Until After the Storm
At MISA, we specialize in working with property owners across southeast Michigan, especially those near the coast, where wind, flooding, and storm risks are increasing each year.
We’ll review your policy for free and tell you exactly where the gaps are—before disaster hits.
✅ Ready for a Wind-Proof Policy?
📞 Call us today at (586) 846-3133 or visit www.michiganinsurancesource.com
Let’s build a coverage plan that stands up to Michigan weather.