Best Renters Insurance in Michigan

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  • Best Renters Insurance in Michigan

Michigan has over 1 million renters. While renting is often more convenient and affordable than owning a home, it doesn’t shield you from unexpected property damage ruining your residence and belongings.

Renters insurance is designed to protect renters against uncontrollable events like theft, fire, water damage, and more. Below, we’ll go over the average costs and cost factors of renters insurance in Michigan and how you can find the best policy.

How Much Is Renters Insurance in Michigan?

The average cost of renters insurance in Michigan is $320 per year or $27 per month, which is well above the national average and one of the highest average costs for any state.

The exact cost of renters insurance will vary by person due to differences in location, coverage amounts, property features, and more. But, we analyzed the average renters insurance in Michigan by city below, so you can see where renters tend to pay higher and lower rates.

Average Cost of Renters Insurance in Michigan


Ann Arbor
Grand Rapids

Avg. Annual Rate


Avg. Monthly Rate


Ann Arbor and Lansing are the cities with some of the cheapest renters insurance in Michigan. This may be partly due to the large numbers of college students in both towns who typically bring relatively few belongings when renting. This can keep coverage limits lower and contribute to lower premiums citywide.

Detroit was the most expensive city for renters insurance on our list by far. Detroit has high crime rates that drive up premiums. Additionally, many older buildings in the city may not be up to the latest building and safety codes, which makes them riskier. Increased chances of mold, water damage, and building safety concerns can raise renters insurance premiums.

Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

What Does Renters Insurance Cover in Michigan?

Renters insurance financially covers you from possible damage sources called perils in several ways. Common perils include theft, vandalism, fire damage, and water damage. The aspects of your life that are covered from these perils are as follows:

Personal Property Coverage

Personal property coverage financially protects your belongings, such as furniture, electronics, clothing, jewelry, tools, art, and more in case of damage from a covered peril.

Loss of Use Coverage

Loss of use coverage helps cover living expenses if you’re displaced from your rental unit after damage from a covered peril makes it uninhabitable.

Liability Coverage

Liability coverage can cover your finances if someone is injured in your rental unit or you accidentally damage someone else’s property. It can cover medical expenses, legal fees, and more.

Medical Payments Coverage

Medical payments to others covers the cost of minor expenses if someone gets injured on or around your property without the requirement of legal liability.

How to Get the Best Renters Insurance in Michigan

After understanding the coverages and common exclusions of a renters insurance policy, you should shop around for the best renters insurance in Michigan that covers you sufficiently while staying within your budget. You may need to change some aspects of your policy to make it work best.

Inclusions and Exclusions

Most renters insurance policies will include the above coverages by default. Some carriers may try to add medical payments or loss of use at an additional cost. Weigh if foregoing these coverages is worth it for you, especially when you can likely find them included at other companies. 

Also note that renters insurance typically never covers floods, earthquakes, and sinkholes. There’s not much you can do about this. Some companies offer endorsements for other forms of damage that aren’t covered, though, such as equipment breakdowns and water backup. You should look into these if they’re a concern to you.

Policy Limits

To make your plan the best renters insurance in Michigan for your situation, you may need to adjust some policy limits when quoting. You state how much personal property coverage you want in your plan; the more coverage you want, the higher your premiums will be.

The ideal amount of personal property coverage would be enough to fully replace all your belongings in a worst-case scenario. To determine this amount, make a home inventory. A home inventory will list all your items and how much you paid for them. The total price is the amount of personal property coverage you should get. Asking for much more would mean you’re technically overpaying for protection that you don’t need.

Additionally, the best rental insurance in Michigan will have liability limits beyond the minimum your insurer requires you to get. Plans may start with $100,000 in liability coverage, but you should up it to $300,000 or $500,000 to be safe. Medical bills are very costly, and if you end up being liable for someone’s injury, you don’t want to be forced to pay out of your own pocket.

Actual Cash Value vs. Replacement Cost

You should also be wary of actual cash value and replacement cost in your policy. Actual cash value coverage in your renters insurance means that your provider will deduct damage from all items during a claim before reimbursing you for them. This means you’ll never get an item’s full value back unless it is brand new. You get less money back with actual cash value.

Conversely, replacement cost coverage means your carrier will reimburse you approximately what you paid for a damaged item, no matter when you purchased it. Replacement cost protection is the better option, but it does cost more.

Companies With Cheap Renters Insurance in Michigan

USAA and State Farm offer cheap renters insurance in Michigan, according to our analysis. Rates vary significantly in the state, likely due to locational differences. Average costs will also vary due to the insurance company you choose.

Check out the average cost of renters insurance in Michigan from some of the largest providers in the state below.

Michigan Renters Insurance Rates by Company


State Farm

Avg. Annual Rate


Avg. Monthly Rate


USAA was substantially cheaper than other options on the list, but the company is only available to military members and their families, so it isn’t viable for many.

Over 120 homeowners insurance companies are currently doing business in Michigan, and many of them write renters insurance plans. You can quote from one of many national or regional carriers. 

You can ask friends, family, or neighbors for recommendations or look up insurers in your area for starting points. It’s best to get quotes from at least a few companies to find the cheapest renters insurance in Michigan.

Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

Is Renters Insurance Required in Michigan?

While renters insurance isn’t required by law in Michigan, some landlords require their tenants to get policies as part of their lease agreements. Even if it isn’t mandated, renters insurance coverage is always a good idea.

Some landlords and property management companies require tenants to have renters insurance to further protect the property owner’s and other tenants’ liability if at an apartment complex.

Sometimes, a landlord will want to be named an additional interest in your policy. This just means your insurer will notify your landlord if you change or cancel your policy. Being an additional interest is a way for your landlord to ensure that you keep your coverage for your whole lease.

Even when it’s not required, you should always try to have landlord insurance. You can’t control everything in your life. Hopefully, you never have to file a claim. But, if you do, the protection in your renters policy can pay for itself ten times over in serious cases.

How to Get Renters Insurance Quotes in Michigan

As we mentioned, you should always get at least three or four renters insurance quotes in Michigan before deciding on a plan to guarantee you’re getting the best deal. At Clovered, we make comparing rates easy with convenient ways to get your quotes. We’re an independent insurance agency partnering with many Michigan renters insurance companies. 

Get renters insurance quotes in Michigan at your own pace with our quoting platform online. You’ll just need to provide some basic information about yourself and your rental property. 

If you need any help along the way or would rather just speak to a licensed agent to get your quote, our in-house team is standing by to help. Call us at 833-255-4117 or shoot us an email at [email protected].

Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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