Renters Insurance Michigan
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Comparing Renters and Owners Insurance in 2013 in Michigan
The landlord's policy does not cover renter's damages like burglary. There were 65665 burglaries reported in Michigan in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.
Renters Insurance Coverage Types:
Actual cash value policy:
This policy covers the depreciated value of the loss. For instance, that Camera you bought for $1580 might only be worth $790 six months later – and that's all you're going to get for it.
Estimated Renters Insurance for Different House Types in Michigan
| House Type |
Median Rent |
Estimated Renters Insurance |
|---|
| Single Fam |
$830 |
$190 |
| Condo |
$1,200 |
$276 |
| Duplex |
$730 |
$167 |
| One Bed |
$600 |
$138 |
| Two Bed |
$830 |
$190 |
| Three Bed |
$900 |
$207 |
| Four Bed |
$1,400 |
$322 |