How much is rental insurance in Michigan?
The average cost of renters insurance in Michigan is $34 per month, or $408 per year. The best price we found for renters insurance is $18 per month, though we don't recommend buying based on price alone. Customer service and coverage options are just as important.
Is rental insurance required in Michigan?
While renters insurance is not required by law in Michigan, 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 does renters insurance cover in Michigan?
In general, a Michigan renters insurance policy will have liability, personal property, loss of use, and medical payments to others coverage, along with additional coverage options called endorsements or floaters.
Is landlord insurance a good idea?
If you rent out a property, it's a good idea to have landlord insurance. It covers lots of the same things that your regular home insurance does but it goes further, covering the risks that come with a rental business too – whether you rent out one house or ten flats.