Renters insurance in Michigan: Cost, best companies and how to save

What is the average cost of renters insurance in Michigan?

The average renters insurance cost in Michigan is $323 per year. Rates vary based on factors such as location, coverage amount, deductible, and claims history.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$323
Average monthly premium	$27

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Best renters insurance company in Michigan: Auto-Owners

Among the carriers surveyed, Auto-Owners is the best renters insurance company in Michigan, with a top score and an average renters insurance rate of $35.

State Farm and Automobile Club MI (AAA) are the other best insurance companies for renters insurance in Michigan.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Michigan, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Michigan.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Auto-Owners	$35	A++	0.33	5
State Farm	$219	A++	0.95	4.74
Automobile Club MI (AAA)	$165	A	0.29	4.73
Frankenmuth Insurance	$147	B++	0.03	4.64
The Hanover	$608	A	0.5	4.29
Farmers	$365	A	0.54	3.81
Progressive	$194	A+	8.45	3.59
Michigan Farm Bureau	$1,369	A-	0.25	3.55

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Cheapest renters insurance in Michigan

Our analysis shows that Auto-Owners is the cheapest renters insurance company in Michigan, with an average annual premium of $35.

Renters insurance rates can differ greatly between providers, so it's best to compare quotes to find affordable coverage that meets your needs.

Here is the list of the cheapest renters insurance companies in Michigan along with their average annual premiums.

Company name	Average annual premium
Auto-Owners	$35
Frankenmuth Insurance	$147
Automobile Club MI (AAA)	$165
Progressive	$194
State Farm	$219
Farmers	$365
The Hanover	$608
Michigan Farm Bureau	$1,369
USAA	$142

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Michigan renters insurance: The least and most expensive ZIP codes

Your location in Michigan directly impacts the cost of renters insurance. The most expensive ZIP code in Michigan is 48213, with an average annual premium of $714. This amount is $391 more than higher than the state average.

In contrast, the least expensive ZIP code for renters insurance is 49876, offering coverage at $264 a year.

The table below shows the most and least expensive ZIP codes in Michigan for renters insurance.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
48213	$714
48205	$713
48228	$711
48234	$708
48227	$707
48221	$705
48219	$704
48224	$702
48223	$701
48206	$700

ZIP code	Average annual rate
49876	$264
49801	$270
49870	$272
49682	$273
48105	$274
49783	$276
49424	$277
49417	$279
48877	$332
48420	$340

Renters insurance cost in Michigan by city

Renters insurance rates vary widely across cities in Michigan, driven by factors such as weather risks, crime rates, and other factors. To find the best deal in your city, you should consider these factors and compare quotes from multiple insurers before choosing a policy.

City	Annual insurance premium
Ann Arbor	$265
Dearborn	$409
Detroit	$725
Grand Rapids	$297
Lansing	$293
Livonia	$329
Sterling Heights	$331
Troy	$302
Warren	$343
Westland	$373

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How to save on renters insurance in Michigan

You can lower the cost of renters insurance in Michigan in several simple ways without reducing the coverage you need:

Bundle your policies. Many insurers give a discount when you purchase renters and auto insurance together.
Increase your deductible. Selecting a higher deductible lowers your monthly or yearly premium, but you should make sure you can afford it.
Ask about discounts. Many insurance companies offer discounts for having smoke alarms, security systems, or a claims-free history.
Compare quotes. Since prices vary widely between companies, getting quotes from multiple insurers helps you find the best deal.
Pay annually. Some insurers provide a small discount if you make yearly payment instead of paying monthly.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

FAQ: Michigan renters insurance

Do I need renters insurance in Michigan?

You do not legally require renters insurance, but your landlord may require you to carry a policy as part of your lease agreement.

How much renters insurance do I need in Michigan?

You should make sure your personal property coverage is sufficient to replace all of your belongings at replacement cost; there is no minimum requirement.