How much is renters insurance per month in Michigan?

How much is renters insurance per month in Michigan?

Average Annual Renters Insurance Premium in Michigan The average annual cost for renters insurance in Michigan is a $170 premium, which is around $14 per month.

How much is renters insurance in Detroit?

Renters insurance in Detroit usually costs $15 – $50 per month. When choosing a policy, you’ll need to decide what coverage limits (the maximum amounts the insurance company will pay out) are appropriate for personal property and liability.

How much is renters insurance Grand Rapids MI?

Michigan renters insurance: Costs by city

City Average % difference from state average
Grand Rapids $27 -21%
Kalamazoo $30 -13%
Kentwood $28 -19%
Lansing $29 -14%

Is it OK to not have renters insurance?

While renters insurance is not required by law in California, some landlords may require it for you to live in their building. It’s generally a good idea to have at least some form of coverage as your landlord’s insurance is not liable for any damage to your personal property.

What is a normal amount of renters insurance?

The typical renters insurance policy offers $100,000 in liability coverage. For renters, this amount is often sufficient. However, if you entertain company frequently at your home or if your assets exceed that amount, you should consider an amount of insurance equal to at least the total value of your assets.

How much does renters insurance cost per month?

Average Cost of Renters Insurance (2020) The average renters insurance policy costs about $16 a month. Find out where you can get it for less. Only 40% of renters have renters insurance coverage, but that doesn’t mean you should pass on getting a policy for yourself.

How much does renters insurance cost in Detroit?

On average, residents of Detroit pay $710 per year for renters insurance, which is 74% greater than the state mean. Renters insurance rates in Detroit vary by over $1,000, so, it’s best to shop around and receive multiple quotes before purchasing coverage.

How much does renters insurance cost in Alabama?

Average renters insurance rates by state State Average monthly cost Average annual cost Alabama $29 $346 Alaska $16 $187 Arizona $17 $204 Arkansas $30 $360

What kind of insurance is available for renters in Michigan?

Here are some optional coverages that may appeal to Michigan renters: Replacement cost coverage: Pays for the full cost of a damaged or stolen item without factoring in depreciation. Valuable items coverage: Protects valuable items like jewelry or high-end electronics, which often have limited coverage on regular renters insurance.