Detroit Renters Insurance

The Zebra
July 23, 2019

Detroit, Michigan renters insurance


Renters insurance is a key coverage if you’re renting an apartment or house. It protects your rental unit — and any personal belongings within it — against a variety of harms, such as vandalism, wind damage, theft, or fire. Since bad things do happen, the affordable price of a renters policy, and the relatively high cost of replacing your property, a renters insurance policy is a solid investment.

How much your renters insurance policy costs will come down to a number of factors, including the age of your dwelling, the materials of which it’s made, your apartment’s geographic location, and the pricing strategies of your renters insurance company. In areas prone to hail, fire, lightning, or damaging wind, renters insurance could be more expensive to account for the additional risk.

The average yearly renters insurance rate in Detroit is $292.

Finding cheap renters insurance in Detroit should start with a thorough comparison of the top renters insurance companies. Consult our breakdown of Detroit renters insurance rates to ensure you're informed and aware heading into the insurance purchasing process. Remember: rates may vary based on your coverage limits and other factors.


Detroit renters insurance:

  1. Rates by company
  2. Rates by coverage level
  3. Renters and auto insurance discounts

Renters insurance in Detroit — popular companies

Renters insurance premiums in Detroit depend on the insurer you choose. For instance, USAA offers the most affordable renters insurance in Detroit, at just $101 per year. This compares favorably to the city's typical renters insurance cost of $292, providing a $190 discount on typical rates in the city.

Begin your search for a renters insurance policy by reviewing the cheapest companies in Detroit.


AFFORDABLE RENTERS INSURANCE COMPANIES IN DETROIT
CompanyAverage Annual Rate in Detroit
USAA$101
Meemic$140
Cincinnati Insurance$148
Hastings Mutual$157
Frankenmuth Insurance$169

Detroit renters insurance premiums by coverage level

Your renters insurance rates will vary depending on your coverage levels. Two of the most common levels of renters insurance coverage are $25,000 and $50,000 property coverage. In Detroit, the annual cost differential between these options is roughly $129. If you can afford the up-front expense, it's an option worth considering.

Coverage LevelAverage Annual Rate in Detroit
$25K Property$227
$50K Property$356

Tip: bundle your renters and car insurance

If you’re trying to save, purchase your renters and auto policies from a single company. Bundling renters and auto insurance in Detroit can result in substantial savings. In fact, bundling renters and auto insurance leads to average savings of 4.7% on car insurance premiums. The car insurer offering the most affordable rate with a renters bundle is AAA, followed by Progressive and Allstate.


RENTERS AND CAR INSURANCE BUNDLING SAVINGS IN DETROIT
Annual Bundle SavingsBundle Savings %
$2874.7%

Need renters insurance? Talk to an expert today.