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. To obtain the size of protection you require, you'd need to submit a claim. What is meant by such a claim? Such claims are lawful official documents setting out the actual facts and figures of the loss to that insured assets or property. The administration has to examine and access the validity of one's demand prior to granting compensation. Borrowers benefit: This is also a matter of thinking that how the borrower be benefited through property mortgage insurance. Yeah property mortgage insurance provides a great facility to them. For example if any one want to buy his/her own house and don't acquire property mortgage insurance, she/ he definitely go to the lenders and they will demand say 20% in advance of the whole consideration. Swimming pools, patios, barn houses, gazebos, etc. Some of the policies of the investment property insurance are specifically designed for proprietors. The proprietor gets protected from the tenant living on rent by these types of policy of residential investment property insurance. A renter also gets the liable protection of residential investment property insurance. People involved with high-income or middle income home owners, and small businesses to big business, anybody can purchase property insurance. The insurable interest in the property insurance is the property of procurer. Property insurance gives liable coverage to the office building structure and everything that is considered as the clause "insurable interest" for small businesses. Furthermore, citizen property insurance has a "loss" clause, which provides liable coverage to the crime or theft of property. How you are protected with the citizen property insurance policies? Citizen property insurance provides the property protection in various ways. First, the policy of citizen property insurance covers the financial or economic loss.