cheapest renters insurance quotes

Who has the cheapest renters insurance quotes in Michigan?
Travelers offers the cheapest rental insurance in Michigan, averaging $15 per month.

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However, we do not recommend buying based on price alone. Choosing the right renters insurance is about finding a balance between affordable rates, the right coverage and reliable customer service.
Finding Affordable Renter Insurance in
Michigan renters can find the lowest rates on Travelers. The policy costs an average of $182 per year or $15 per month. That’s $134 less per year than the state average.

The average cost of renter insurance in Michigan is $26 per month or $316 per year.

Michigan tenants should also consider getting an offer from State Farm. The average policy cost is $18 per month or $212 per year, 33% less than the state average.

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There are significant price differences among Michigan renters’ insurance companies. The cheapest travel insurer is 64% cheaper than the most expensive insurer. Switching would save Michigan renters $318 per year.

Renter’s Insurance Best for Most People: State Farm
Average Monthly Rate

$18 ?
Pros and Cons

Affordable Prices
Excellent Customer Service
No Reimbursement Coverage
The best insurance company for most renters in Michigan is State Farm, which offers low rates and high customer satisfaction.
State Farm renters’ premiums are very low, averaging $18 per month in Michigan. That’s $8 less per month than the state average.

Also, according to the National Association of Insurance Commissioners (NAIC), State Farm receives fewer complaints than other similarly sized insurance companies. This indicates that customers are generally satisfied with the service they receive. Jay.
D. Power also ranked #2 in the Renter’s Insurance Customer Satisfaction Survey.
The only downside to the
State Farm is that it doesn’t offer many extra cover options. For example, State Farm does not provide replacement cost coverage on renter’s insurance. Tenants with special coverage needs may need to look elsewhere for adequate insurance coverage.
Best deals at affordable prices: Traveler
Average Monthly Rate

$15 ?
Pros and Cons

Michigan Lowest Price
Extra Replacement Cost Guaranteed
Mediocre Customer Service
Annual Payment Plans Only
Renters looking for the lowest rates in Michigan should look to Traveler. The average cost of travel renters insurance is $15 per month. That’s 42% less than the state average. In addition, Travelers provides discount benefits such as accident-free, home alarm, and car insurance.
Traveler also offers additional replacement cost coverage not available at State Farm. This coverage pays the full cost of replacing damaged or stolen items, excluding depreciation.

Traveler’s biggest drawback is mediocre customer service compared to its competitors. The company is J.D.
Power’s annual Renter’s Insurance Customer Satisfaction Survey is conducted among policyholders of the country’s largest renter’s insurance company. Travelers also doesn’t allow renters to make monthly payments, so the entire annual balance must be paid in one lump sum.

Best Customer Service: Amica
Average Monthly Rate

$20 ?
Pros and Cons

Good Customer Service
Below Average Price
Renters who value customer service should consider Amica. The company received a score of 0.
It ranks 12th on the NAIC Complaints Index, meaning it receives 12% more complaints than the average insurer of a comparable size. ValuePenguin’s editors also awarded Amica an excellent rating for its excellent service and affordable price for its customers.

Amica Rent insurance premiums are also below the Michigan average. At $20 per month or $234 per year, Amica insurance is 26% cheaper than the state average.

However, Amica does not offer many additional coverage options for tenants who need extended protection.
For example, renters with Amica insurance cannot purchase water protection to protect their property from water damage from backup pipes, sewers, or sump pumps.

Michigan Rent Insurance: Costs by City
Detroit residents pay the highest rates for renters insurance in Michigan, while Wyoming residents pay the lowest rates of any major city in the state.

Rent insurance prices vary widely in Michigan’s 25 metro areas. In Detroit, renters can expect to pay an average of $824 per year in premiums. On the other hand, people living in Wyoming pay an average of $258 per year for the same coverage.
That’s a difference of $566 per year.

People who live in areas with high crime rates or extreme weather may pay more for insurance because they believe they will have more frequent insurance claims.

Rent insurance costs also vary from state to state. Michigan renters pay $104 more per year than the national average for renters insurance ($212 per year).

Michigan’s premier renters insurance company
Amica provides Michigan renters with the state’s best customer service.
According to NAIC, Amica receives significantly fewer complaints than similarly sized competitors. This means that Michigan’s renters are generally satisfied with the Amica experience. Our editors also gave the company high marks based on the value it offers customers, service reviews, and coverage options.

AmicaUSAALemonadeState FarmNationwideFarmersAllstateTravelers
It’s important to choose a renter’s insurance company that provides reliable customer service. Good service makes the insurance process quick and easy and reduces the stress of filing a claim for the renter.
What does renters insurance cover in Michigan?
Coverage is different for each tenant. All of the insurance companies we reviewed offer basic coverage, such as: If you’re considering an insurance company that doesn’t offer all of these, you should consider that a red flag and look elsewhere.

Personal property insurance pays for the repair or replacement of property if it is stolen or damaged.
Liability insurance covers damage to others for whom you are responsible, such as if your dog bites a guest in your home.
Medical Benefits Insurance pays for the medical bills of guests who are injured in the home, regardless of whose fault it is.
Covers additional living expenses for a hotel room or other temporary accommodation if you are unable to live in your home due to covered damage.
Some renters may need to consider additional coverage options when evaluating an insurer. Additional coverage Michigan renters will love:

Frequently Asked Questions How much does
 renters insurance cost?
Tenants in Michigan pay an average of $26 per month for insurance. In Michigan, renter’s premiums can vary up to $47 per month depending on where you live. That said, some renters can expect to pay significantly more than the state average.

Who has the cheapest renters insurance quotes in Michigan?

Travelers offers the lowest rental insurance rates in Michigan, averaging $15 per month. Due to the company’s poor customer service ratings, we recommend that most renters consider State Farm, which costs only $3 more per month.

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