The Cheapest Renters Insurance Companies Michigan 2020

Whether you’re scaling down to a rental property for retirement or moving out of your parent’s house with hand-me-down furniture, you need renters insurance. Michigan renters insurance is affordable and can help replace your belongings in case of fire or burglary or pay legal expenses following a mishap in your home.

Find the Best Renters Insurance in Michigan

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      According to The Zebra, a research company that studies the insurance industry, Michigan renters pay an average annual premium of $155 for renters insurance, nearly $30 less than the national average. When shopping for Michigan renters insurance, look for policies that provide:

      • Enough personal property coverage to replace your belongings.
      • Liability coverage to pay for damages to the dwelling.
      • Medical payments coverage to pay for injuries to others that may occur in your home.
      • Additional living expenses coverage to help pay your expenses if you need to temporarily move following a covered peril.

      Keep in mind that insurance companies allow you to set coverage limits. Some renters might need just $15,000 in personal property coverage while others need $30,000. You can also add coverage to protect expensive items such as artwork, collectibles, guns, jewelry and musical instruments. Before shopping for renters insurance, take an inventory of your belongings to determine how much coverage you’ll need.

      Best rental insurance companies in Michigan

      Finding the best Michigan renters insurance isn’t difficult. You just need to find good resources. J.D. Power & Associates conducts an annual survey of renters insurance companies, producing ratings and rankings based on billing process, claims handling, customer interaction, overall customer satisfaction, policy information, policy offerings and price. In J.D. Power’s 2019 U.S. Renters Insurance Study, the following Michigan insurance companies ranked among the best:

      Best Michigan renters insurance for standard policies – Allstate

      Allstate standard renters policies are all many renters need to protect their belongings and finances. Allstate renters policyholders pay an average monthly rate of $16, but you can enjoy an even lower rate if you qualify for discounts.

      J.D. Power Rating
      2/5
      AM Best Rating
      A+
      Standard & Poor’s
      AA-
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore Allstate 4.2
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 2
      Support 4
      Customer Satisfaction 5

      Allstate earned J.D. Power’s top rating for its superior claims handling. Allstate’s standard renters policies cover all the bases, with additional living expenses, liability, medical expenses and personal property coverages. You can purchase additional coverage to protect against identity theft or to cover business property. Allstate offers you many ways to reduce your premium, with discounts for installing safety and security devices in your home, maintaining a claims-free account, purchasing multiple policies and signing up for automatic payments. If you’re 55 years of age or older, you may qualify for a discount of up to 25%.

      Best Michigan renters insurance for bundled policies – American Family

      Enjoy huge savings when you purchase American Family automobile and renters policies. Bundling your policies can earn you a 29% discount on your car insurance and a 15% discount for renters coverage.

      J.D. Power Rating
      5/5
      AM Best Rating
      A
      Standard & Poor’s
      N/A
      SimpleScore
      4.8 / 5.0
      close
      SimpleScore American Family 4.8
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 5
      Support 4
      Accessibility 5

      American Family scored five out of five stars in almost all J.D. Power categories. Standard renters policies include personal property, liability and additional living expenses coverages, and you have the option to add home-based business, identity theft and pet insurance coverages. The optional travel protection coverage doesn’t just protect your belongings on the road; it also includes global medical insurance and trip cancellation coverage.

      Best Michigan renters insurance for small business owners – State Farm

      Whether you own a home-based business or have a separate brick and mortar office, you can add additional coverage to your State Farm renters policy to protect your business finances and property. State Farm sells business insurance for barber shops, cafes, contractors and retail stores.

      J.D. Power Rating
      5/5
      AM Best Rating
      A++
      Standard & Poor’s
      AA
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore State Farm 4.2
      Discounts 3
      Coverage Options 5
      Customer Satisfaction 5
      Support 4
      Accessibility 4

      State Farm earned five-star ratings in almost all J.D. Power categories. State Farm’s standard policies include additional living expenses, liability and personal property coverages, plus you have the option to add coverages such as business property coverage, earthquake insurance and identity restoration coverage. Unlike some insurance companies, State Farm continues to operate local offices in most areas. You can always depend on the help of a dedicated agent if you need to file a claim or purchase additional insurance.

      Best Michigan renters insurance for military members – USAA

      USAA provides one-stop financial shopping for military members and their families. Besides auto, home and life insurance, USAA also offers checking and savings accounts, credit cards, home mortgages, mutual funds and retirement plans.

      J.D. Power Rating
      5/5
      AM Best Rating
      A++
      Standard & Poor’s
      N/A
      SimpleScore
      3.8 / 5.0
      close
      SimpleScore USAA 3.8
      Discounts 2
      Coverage Options 5
      Customer Satisfaction 5
      Support 3
      Accessibility 4

      USAA scored five stars in all J.D. Power categories. USAA only offers insurance to military members and their families, but folks who qualify can expect excellent renters coverage. In fact, USAA’s standard renters policy includes coverages most insurance companies only offer as options, including earthquake and flood coverages. Plus, standard policies also include replacement cost coverage, which pays to replace your belongings at current market prices.

      Best Michigan renters insurance for young professionals: AAA

      Many upwardly mobile professionals change jobs every few years. AAA’s relocation discounts help you save loads of money on moving vehicles, relocation logistics and storage rentals.

      • Auto Club of Southern California Insurance Group (AAA): AAA earned five-star ratings from J.D. Power in policy offerings and price. A basic AAA renters policy includes liability and personal property coverage, along with personal finance coverage to protect you against unauthorized use of checks or credit cards. AAA auto club members can earn a discount when they purchase renters insurance and can enjoy deep discounts on moving services offered by top companies such as Atlas Van Lines, Consumers Relocation Services, Penske Truck Rental and Sparefoot.

      Find the Best Renters Insurance in Michigan

      Save money on renters insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        America’s top-rated renters insurance

        • Policies starting at just $5/month
        • Sign up in seconds, claims paid in minutes
        • Zero hassle, zero paperwork
         AM Best RatingJ.D. Power RatingBetter Business Bureau Rating
        American FamilyA (Excellent)5 out of 5A
        USAAA++ (Superior)5 out of 5No Rating
        State FarmA++ (Superior)5 out of 5A+
        AAANo Rating3 out of 5A+
        AllstateA+ (Superior)2 out of 5A+

        Michigan renters pay low insurance rates throughout the state. According to The Zebra, Michigan apartment and house renters pay an average annual renters insurance premium of:

        Ann Arbor$125
        Livonia$133
        Novi$133
        Troy$132
        Wyoming$131

        If renters insurance rates are your most important concern, it can pay to shop around. Based on a The Zebra study, a few Michigan renters insurance companies offer annual rates much lower than the state average, including:

        Frankenmuth Insurance$102
        Hastings Mutual$111
        Meemic Insurance Company$121

        Frequently asked questions

        Before shopping for Michigan renters insurance, take a detailed inventory of your personal belongings to determine how much coverage you need. Insurance companies allow you to increase coverage to meet your needs or add additional policies for expensive items like musical instruments and jewelry. When shopping for renters insurance, look for companies that offer the most comprehensive coverage in their standard policies.

        According to the 2019 J.D. Power Renters Insurance Study, American Family and USAA are Michigan’s top renters insurance companies, based on considerations such as claims handling, customer interaction and price. When you shop for renters insurance, look for companies with strong financial and customer service ratings.

        No. Your landlord’s property insurance covers the building’s structure but does not cover your property. Purchase enough coverage to replace your personal items and enough liability coverage to help pay for damage you might cause to the property or the medical expenses of a guest who sustains an injury while visiting you.

        No. In fact, Michigan renters pay an average annual premium of $155, nearly $30 lower than the national average. For less than $13 per month, it makes good financial sense to protect your belongings and finances with a renters insurance policy.

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore™

        Here’s a breakdown of the five aspect scores and their rating criteria for our renters insurance reviews.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We awarded higher scores to insurance providers with more discounts available on their website.

        Coverage Options

        We gave providers with more renter insurance coverage options a higher score because they’re more likely to have a policy that best meets your needs.

        Support

        We awarded higher scores to renters insurance providers with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power Home Insurance Satisfaction Study℠ to see how customers rated their experience with each insurance provider. (If a provider wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We awarded higher scores to insurance providers that have more online and mobile features to easily manage your policy and claims.