Michigan Home Insurance: As a Renter, You Need Protection Too


Renting usually means you have fewer things to be concerned about. Should the drain clog, there’s your landlord’s plumber to fix the mess. Should the air conditioning stop working totally, all you need is to call the property owner to have it replaced. This is why it often takes some serious events, such as a burglary, fire or an accident, for many renters to realize why they need an insurance.

As a Renter, You Need Protection Too

In fact, according to Simple Dollar, renters insurance is the least purchased product in the insurance market. On a 2012 poll, while 96% of homeowners have home insurance, only 31% of renters have theirs. While some can’t afford an insurance in the first place, there are renters here in Michigan who mistakenly assume they are covered by their landlord’s policy. There are also those who underestimate the value of their belongings, although the latter could easily add up to thousands of dollars. Whether you’re a long-time renter or a new renter, it pays to understand the coverage and limits of renters insurance.

Personal Property

Insuring your personal belongings is the main purpose of a renters policy. It covers loss or damage due to calamities like fire or storm and specific crimes like burglary. When considering the amount of coverage you need, draft a cost inventory of all your personal possessions (clothes, gadgets, appliances, etc.) since it can be overwhelming if you do that after a loss.


If something goes wrong in your apartment and this causes damage to your neighbor’s property, you can be held liable for repair or replacement. If someone gets injured on your premises, be it your friend, neighbor, or the delivery guy, they can file negligence charges against you even if you’re just renting. You could be held responsible for hefty medical bills—or worse, face a financially-draining lawsuit. Renters insurance won’t just replace the amount of your lost and damaged belongings; it also provides liability coverage.

Other Expenses

If fire or flooding damage (for instance) renders the house or apartment you’re renting uninhabitable, where will you live? With a renters insurance, you won’t have to worry about moving back to mom and dad’s or with your in-laws. This policy can cover increases in expenses incurred during your move so that your standard of living remains as usual.

Renters insurance coverage can vary between carriers but the key is studying it carefully before you close to determine how the policy can protect you in a variety of circumstances. Brokers from Michigan firms like Allied Insurance Managers, Inc. that provides comprehensive homeowners insurance can also find you renters insurance tailor-fitted to your specific needs and budget.


Renters Insurance: Why It’s Worth It, TheSimpleDollar.com

4 Common Myths about Renters Insurance, USNews.com

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Allied Insurance Managers's Bio

Headquartered in Rochester Hills, Mich., Allied Insurance Managers is one of the largest, privately-owned, independent insurance agencies in Michigan.