ZIP 48098 Insurance Data

Data Snapshot: ZIP 48098 (Troy, MI)

ZIP 48098 (Troy, MI) shows an average homeowners insurance premium of $1,736 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 805 reported policies. That is 2% below the national average of $1,776 per year, placing this ZIP in the 62th percentile nationally. Compared to the Michigan state average of $1,233, this ZIP runs 41% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 48098 is 43.4%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 4.39%, and the average claim severity (amount paid per claim) is $17,148. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 2.46% in this ZIP, a drop of 73.6% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 48098 have fallen by 0.4%, ranging from $1,719 to $1,765 with a five-year average of $1,738 — an annualized rate of -0.1% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.