Renters Insurance in Michigan

Renters insurance is coverage to protect renters living in a home or an apartment in Michigan. It usually includes three types of coverage to protect your belongings, you, and your living arrangements after a loss that is covered. Some renters assume that their belongings are covered under the building's insurance policy, but the management company only covers the outside of the building and common areas.

What Does Renters Insurance Cover?

A renter's insurance policy from North Coast Insurance Services in Lexington, MI will cover your personal property, such as your belongings, furniture, clothing, and electronics, for the cost of repair or replacement up to the limits in your policy. You also get liability coverage for repairs if you accidentally damage the property of someone else. It also pays medical bills for a guest that is hurt in your residence. If your home or apartment is uninhabitable after an incident, your renter's policy may pay for additional living expenses such as a hotel and food.

How much Renters Insurance do I Need?

To determine how much insurance you should acquire in Michigan, you need an inventory list of all of your belongings with prices on it. This ensures that you purchase enough coverage. If you have expensive jewelry or artwork, you may need a rider to include these items in your renter's insurance.

What is Actual Cash Value and Replacement Cost?

Renter's insurance policies can be an actual cash value or a replacement cost policy. The actual cash value is the value of an item minus its depreciation. The replacement cost will pay you the amount of money to buy a new item at the current day's prices.

At North Coast Insurance Services, we realize that it can be challenging to determine how much renter's insurance you need. You can drop by the office in Lexington, MI, and we can help you determine how much coverage you may need for your apartment or rented home in Lexington, Troy, or around the state.