Michigan Renters Insurance From Effective Coverage Protects You From Almost Everything... Except Wolverines
Michigan is known as the Wolverine State, possibly because of early trade in Wolverine furs. Michigan is the only state that’s made up of two peninsulas. This gives it the longest freshwater coastline of any political subdivision worldwide.
Michigan ultimately became part of the US because it was ceded to the British after the French and Indian War. Michigan also the only place in the world where you can find cities named Paradise and Hell.
Do you enjoy your weekends? You should probably thank the good folks of Michigan, since it’s where weekends originated. Even in the early 1900’s, Ford gave his workers two days a week off.
While the forty hour week wasn’t mandated until 1938, weekends came much earlier. In addition to being the home of fair labor practices, Michigan also boasts the natural beauty of the Upper Peninsula, as well as some of the finest universities in the world.
While Detroit has gotten a bad rap in recent years, more and more people are moving to the city in 2020. The Detroit Free Press evaluated how the city is doing post-bankruptcy, and it looks positive for both the present and the future. A new street light authority, funded by bonds, has improved lighting throughout the city.
The Detroit Land Bank Authority has removed many blighted homes. This process is ongoing, because of the sheer number of them to remove. Some residents have complained about the speed of the demolitions, concerned about their rights as property owners or the availability of affordable housing.
Detroit property tax collections have increased as values rise. That’s good for the city, but arguably bad for some homeowners who are on the brink financially. More money is needed, however. Detroit finally has a full fleet of buses, thanks to a federal grant. This benefits people who use public transportation to commute, but routes which were cut in leaner times have not been reinstated. Police response times have dropped dramatically. Fire department response times have improved, as well.
The rest of Michigan is doing well, too. Cities like Grand Rapids, Warren, and Sterling Heights are growing rapidly. Cities like Lansing, Ann Arbor, and Flint are growing again as well. These cities have plenty of available apartments, as well as increasing career opportunities. Many people are finding Michigan to be an excellent place to raise a family, and an easy place to build a life.
Looking for an apartment in Michigan gives you a wide variety of options. Apartments in cities of varying sizes await you. If you’re looking for easy access to everything you could possibly need, Michigan cities hold what you need. If you prefer suburbs or more rural areas, Michigan offers many opportunities. Whether you prefer an apartment in a city rowhome or a professionally managed community you’ll find something to appeal to your needs.
When you get a new apartment, Michigan renters insurance should be the first thing you think about. Renters insurance in Michigan is quite affordable, around $187.00 for a year’s worth of coverage. That coverage protects you whether you set a box on top of the stove while moving in and it catches fire, or whether someone steals your stuff a year from now. It’s the most comprehensive protection you can get for your family, and more affordable than you think.
Effective Coverage is here to help with your Michigan renters insurance. We work to educate people about the coverage available to them because a policy is the single most affordable way to protect what’s important to you. Our mission is providing solutions for those buying and requiring insurance, because insurance is our world and we want you to get back to yours.
You can start the process online, and a friendly insurance expert who can help you choose coverage is just a quick phone call away. If you’re a landlord, Effective Coverage offers efficient solutions for insurance compliance tracking in Michigan. Tracking renters insurance, commercial insurance, and other types of policies has never been easier.
Whether you need renters insurance in Michigan or you need easy Michigan certificate tracking solutions, Effective Coverage has the answers. We make it easy and let you get back to the rest of your life. We’re easy to reach, online, by web chat, or by calling a friendly insurance expert at (800)892-4308.
2020 Michigan Renters Insurance Guide Table Of Contents
- What Should I Know About Michigan Renters Insurance In 2020?
- Does Michigan Renters Insurance Cover Personal Property?
- What Does Liability On Michigan Renters Insurance Cover?
- What's Not Covered?
- What Happens If My Michigan Renters Insurance Claim Is Investigated?
- Michigan Renters Insurance Fast Facts
- Bonus Section: 2020 Guide To Renting In Michigan
What Should I Know About Michigan Renters Insurance In 2020?
- Your landlord will require you to have Michigan renters insurance in 2020.
- Renters insurance doesn’t cover the building, it covers your liability for damage to the building.
- If you cause a fire, your landlord’s insurance will sue you for the damage. Your policy covers defense against the suit and the costs of the loss.
- Additional living expenses after a covered loss are also covered.
The first thing to know about Michigan renters insurance in 2020 is that your landlord is going to want you to have it. That’s not because he wants you to insure the building so he doesn’t have to, though. Michigan landlords still usually insure their properties.
That’s fortunate, because your renters insurance doesn’t cover the building – you have no insurable interest on it, and there’s no dwelling coverage on a renters policy. What the landlord wants is for you to cover your liability for damage to the building.
If you cause a fire, or if you forget to close a window in the winter and cause a burst pipe, the landlord’s insurance will likely pay for repairs to the building. The landlord’s insurance will then come after you to recoup what they paid out.
Liability coverage on renters insurance in Michigan pays for those damages as well as the costs of defending you against the lawsuit the landlord’s insurance company files. Your recovery from the damage will be much more straightforward when you don’t have to deal with that lawsuit yourself!
Michigan renters insurance in 2020 also pays for your additional living expenses after a covered loss. You’ll need a place to stay, like a hotel, and you’ll have other expenses as well. You’ll have to eat out instead of cooking at home, and you might have additional transportation expenses, for example. Your policy pays for those costs so that you don’t have to. There are other benefits to your policy, as well.
Does Michigan Renters Insurance Cover Personal Property?
- Renters insurance covers your personal property at the cost to replace that property in 2020.
- You don’t want to buy more shirts that are ten years old, you want to replace your property with new.
- Your family’s personal property is covered as well, to the extent they’re covered by the definition of named insured.
Yes, Michigan renters insurance in 2020 covers your personal property. Most policies are written with replacement cost coverage. In the past, actual cash value was common but most insurers have added replacement cost.
What that means to you on a practical level is that your claim will be paid at the cost to buy new personal property to replace what was lost. Is your closet full of ten year old shirts? You want the amount you need to go out and buy new clothes to replace them.
Your policy also covers the personal property of your family that lives with you, your spouse that lives with you, and any minor children that live with you. Many people forget to add the cost of all their kids’ stuff when they consider how much coverage they need on renters insurance. Children of any age have a great deal of personal property – furniture for babies, toys, devices for teenagers, computers, and much more. All of this is covered by your policy, as well.
What Does Liability On Michigan Renters Insurance Cover?
- Liability coverage indemnifies you against the costs of your own negligence.
- Liability also pays for defense costs against the claim or suit.
Liability on Michigan renters insurance is designed to indemnify you for the costs of your own negligence. When you fail to use due care and the result is bodily injury or property damage to someone else, you’ll be expected to pay for the loss suffered by the other person. That often involves them suing you to force you to pay. Your renters insurance policy first pays to defend you against the claim or lawsuit.
That’s crucial because most people can’t afford tens or hundreds of thousands of dollars in attorneys fees. The policy pays these costs, to ensure that you have a defense and that fraudulent claims aren’t paid as a result of a default judgement for lack of defense. The policy also pays the judgement or claim, up to the policy limits. That’s why it’s important to coordinate the amount of liability coverage with how much you own, or what assets you may acquire in the future to ensure you’re protected.
What's Not Covered By Michigan Renters Insurance?
- Business pursuits are unlikely to be covered.
- The threshold for business income – even for a small side hustle – is as low as $2,000 earned in a year.
- That threshold is based on total money earned, even if none of it is profit. If you average $166.67 a month, your business pursuits are not covered by renters insurance.
Any business pursuits are unlikely to be covered by renters insurance in Michigan. If you work from home, carefully consider who actually owns things like your computer – are they your property, used for personal and business purposes, or are they property of the business?
If you make more than a token amount from your business, you’ll want to look into the proper commercial coverage. Fortunately, Effective Coverage has options for you there as well.
Damages resulting from intentional acts are not covered, but this doesn’t apply to children under the age of thirteen. They are perceived not to have the capacity for negligence because of their status as children. If your ten-year-old gets in a fight at school, and the parents sue you for the other kid’s medical bills, your renters insurance policy can respond with a defense and payment because that fight is likely not an intentional act due to the child’s age.
Renters insurance also does not cover liability or personal property of roommates. It’s often possible to endorse that coverage onto the policy, but you should think twice before you do. An increase in the number of people who are covered by the policy does not increase the amount of coverage. If you add a roommate to your policy, you’re sharing the amount of coverage with them. Instead, each roommate should have their own policy.
What Happens If My Michigan Renters Insurance Claim Is Investigated?
- Investigations of renters insurance claims are common.
- A claim being investigated doesn’t mean you are being investigated.
- The insurance company could be concerned about the person making a liability claim.
If you make a claim on your renters insurance in Michigan and it’s investigated, you have a problem. The question becomes how large of a problem you have. Were you honest on your application for insurance?
Did you properly disclose and characterize the risk of your policy? As long as those answers are yes, your problem is limited to a few extra days before your claim is paid. Some types of claims may often look suspicious on their face but can quickly be proven to be legitimate.
On the other hand, if there are questions as to the validity of the claim or you lied on the application, you may well have more significant problems.
As a matter of course, most renters insurance claims in Michigan are not investigated and are processed quickly. If you find yourself with an insurance company asking more questions than expected, the best thing to do is to continue being honest and provide them with as much information about the claim as possible.
It’s also important to remember that you and your actions may not be the cause of the investigation. If this is the seventh burglary claim on your block in a month, they’ll want more information about what’s actually going on so they can protect all their policyholders. If you are accused of causing bodily injury by someone who has a history of frivolous lawsuits, they’ll investigate that person as part of your claim. A claim investigation doesn’t mean that you are personally being investigated.
Your insurance company has a duty to defend policyholders, and that applies to all policyholders. A renters insurance claim that’s frivolous is bad for you, bad for the company, and bad for everyone with a policy. Claim investigations help to ensure that only legitimate claims are paid, which benefits everyone.
Michigan Renters Insurance Fast Facts
- The average price of renters insurance in Michigan is about fifteen dollars a month.
- Renters insurance in Michigan can protect your entire family, including children who can’t contract for their own policy.
- The average fire loss per structure is $20,700 according to the NFPA.
- Just because someone has insurance for the damage you cause doesn’t make you not liable. Their insurance company can sue you for the money they paid to cover the loss. Your policy defends you and pays for the loss up to the policy limit, if you’re liable.
- Renters insurance protects you from liability risk, risk to your personal property, and costs incurred following a covered loss
Bonus Section: 2020 Guide To Renting In Michigan
Finding An Apartment In Michigan
- Apartments in Michigan cities can be easier to find than in much of the rest of the country.
- Paying attention to maintenance and the neighborhood is important.
- Written leases and walk-through checklists are crucial. Anyone who tells you that a handshake is good enough for a lease is either naive or trying to pull a fast one.
- In Michigan, you only have seven days to dispute any damages from your deposit that the landlord retains.
Michigan apartments can be easy to find. In 2020, Detroit is still on the upswing. Property values have increased, but not to the level where rents are getting out of control. In most parts of Detroit, apartments are still plentiful and affordable.
You’ll need to pay attention to the neighborhood you want to live in, as well as to the apartment itself. Is the building well-maintained? Is the landlord responsive to concerns? How happy are other tenants with their apartments?
Outside of Detroit, you’ll have similar concerns but in many areas you’ll often pay much more. You’ll always want to be careful about your commute. Relying on public transportation in Michigan requires a great deal of time and energy and adds quite a bit to your commute time. Highways often have very different levels of traffic at different times of day. Make sure that you test your commute at the time you’ll actually be making it.
You’ll want a written lease, as well as a walk-through checklist. If the landlord isn’t willing to put existing damages in writing, they probably intend to take them out of your deposit. Just like anywhere else, listen to your gut response. If a potential landlord feels like they’re trying to pull something, they probably are. That’s also where talking to current residents can be useful. That holds even more true when you’re dealing with a small private landlord.
Apartments in Michigan which are in complexes can be expected to ask for credit and references. Some private landlords will not ask for those things. On the other hand, apartment communities can offer a more predictable lifestyle with more amenities. Depending on your location, there may be a dearth of one type of apartment or the other. This can factor into your apartment search, as well.
Michigan Tenant Rights
Leases For Michigan Apartments And Other Legal Documents
Your landlord is required to provide you with a checklist when moving in that covers damages and what’s present in the apartment already. This requirement doesn’t have to be in the lease, and it’s one that is often overlooked. Whether that’s intentional on the part of the landlord or a simple oversight by someone new to the business doesn’t matter – it’s crucial to have this checklist so you don’t get charged for things that weren’t part of the apartment or damages that you didn’t do.
Your lease must include a name and address where you can give notice to the landlord. It also needs to include, in a specified typeface, a notice about the Truth in Renting Act. It may contain a provision notifying you that a domestic violence victim may have the right to get out of their lease. If that notice isn’t in the lease, it needs to be posted visibly in the property management office or delivered to the tenant when the lease is signed.
Any and all fees or charges which are nonrefundable must be laid out in writing in the lease. The lease also must specify any fees which are required and the reasons they may be required. The lease also needs to state the landlord’s address for communication, the name and address of the bank where your deposit is being held, and your obligation to provide your new address in writing to receive your deposit back.
Michigan Apartment Security Deposits
It’s normal to require a security deposit when you move into an apartment. One month of rent is common, and covers most damages. Michigan law limits the amount of that deposit to one and a half months of rent. Don’t forget that the lease needs to tell you where the deposit is held and warn you to provide written notice of your new address. When you move, the landlord has to give you both your deposit and an itemized list of anything any deductions that were made from it. When they do, you have a week to dispute those deductions.
If you wait longer than seven days to dispute security deposit deductions in Michigan, you are forever barred from disputing or recovering that money.
Once you’ve found the perfect home, make sure you have the perfect protection. Just call (800)892-4308 or click above to get the Michigan renters insurance you need with easy payments and coverage you can rely on. Effective Coverage insurance experts are happy to answer your questions and help you to understand what type and amount of coverage may best fit your personal situation.