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Laura Berry

Former Insurance Agent

Former Insurance Agent

Joshua Adamson

Joshua is a copywriter at Obrella who for more than 10 years has been creating content about insurance, health care, and more. He helps companies explain complex insurance subjects in simple ways so that customers can make smart buying decisions. He spends way too much time binge-watching Netflix, loves the outdoors and has a cat who tolerates him.

UPDATED: Jul 20, 2021

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Because things such as fires, burglaries, and personal injuries can happen anytime, it is incredibly important to have renters insurance. Renters insurance will help you replace your belongings or cover medical costs in most cases. We uncovered the facts to share with you. Read more about Michigan renters insurance below.

What is the average renters insurance cost in Michigan?

In Michigan, you’ll pay about $207 per year for renters insurance, which is 11% more than the national average. However, that’s still far less than what it would take to replace all of your belongings. You probably own a closet-full of clothing, appliances, furniture, cookware, electronics, and jewelry. When you add up the cost of replacing those items, it’s obvious that the low annual premium for insurance would be worth it. Even if you work for minimum wage, you’d only need to work 25 hours to pay for your annual renters insurance premium.

What does Michigan rental insurance coverage do?

In 2012, there were 65,665 burglaries in Michigan. With renters insurance, you can eliminate some of the headache and stress of dealing with a burglary if it happens to you. Knowing that you can replace your valuables often for the full retail value is reassuring when you’re dealing with a break-in. Renters insurance also protects you in the event of other unexpected events like natural disasters, fire, and water damage. Your renters insurance liability coverage protects you if someone is hurt on your property. Personal property coverage protects the items in your home from theft or damage. If you have high-value items in your home like expensive jewelry or a musical instrument, you may want to invest in higher coverage limits on your policy.

Landlord insurance only covers the rental property, it does not provide personal property protection for renters’ belongings. This is why having a renters insurance policy is so important.

How can you get cheaper Michigan renters insurance with insurance discounts?

An insurance company will determine your renters insurance premium based on factors such as your address, claims history, current policies, and a slew of other variables. However, you can keep your premiums lower by qualifying for discounts on renters insurance.

  • Multi-Policy: Purchase more than one insurance policy from the same company, such as auto insurance and renters insurance.
  • No Prior Claims: You won’t pay extra if you haven’t ever filed a claim.
  • Safety Devices: Smoke detectors, sprinklers, burglar alarms, and home monitoring systems can save you money.
  • Higher Deductibles: Agreeing to a higher deductible can lower your renters insurance premium. But be careful, make sure the deductible is something you can afford if you need to make a claim.

Shop around and compare rates and discounts from different renters insurance providers to find the most affordable renters insurance policy that offers the coverage you need.

What do Michigan renters pay in rent and renters insurance coverage?

In Michigan, 28% of residents rent their homes, and the average price they pay for a two-bedroom place is $788. They pay on average an annual rate of just $207 for renters insurance. Considering how much money it would take to recover from a theft or disaster, that low premium compared to much bigger life expenses is definitely worth it.

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