What is Detroit Renters insurance
You need Detroit renters insurance if you rent a house, condo, or an apartment.
People have been under the misconception that if they are in an apartment, they do not need renters insurance because the landlord will provide it. The landlord’s policy only covers the building and not your personal property. Many Detroit landlords required tenants to purchase a renters insurance policy when they sign a lease.
What does a Detroit Renters insurance policy cover
Renters insurance can help to protect your personal property against fire, lightning, windstorm, hail, explosion, volcanic eruption, riots, aircraft damage, vandalism, vehicle damage, smoke, or theft. You have two choices when it comes to insuring your personal property you can insure your property for the actual cash value (how much it is worth today) or its replacement value (how much it would cost to replace the item). You will have to pay a little more to get the replacement value coverage.
Renters insurance protects you if your home is unlivable due to a loss. Your policy will pay for another place to live while your home is repaired.
Your renter’s policy can also provide medical payment to others for necessary medical expenses incurred or medically ascertained within three years from the date of accident or injury. This coverage does not apply to the insured or regular residents of the household and is $1000.
There is coverage that protects you against a lawsuit from a liability claim caused by someone being injured in your home or damage to someone’s property. This coverage protects you from the lawsuit and also pays for the cost to defend you in court. Liability limits start at $100,000, but higher limits are available. Landlords require renters insurance to protect against damage from other units.
Discounts Available for your Detroit Renters Insurance policy:
Discounts are available for installing smoke detectors, fire extinguishers, central alarms and deadbolt locks on the doors.
Renewal or Claims Free Discount
Most companies have policies that reward loyalty or longevity with the same company. Companies can also offer discounts if you have not had any claims with your company. These discounts will be based on different criteria and will vary from company to company.
Check with your agent to see if your company offers a Multi-policy discount. This policy will reduce your premium if you carry different lines of insurance with the same company. For example, if your auto and home are the same company, both policies will receive a discount.
Increase your deductible, you will pay more towards a claim, but your premiums will be lower.
Contact Detroit renters insurance agent.
To start a Detroit renters insurance policy call 248-277-4505, or you can get a Michigan renters insurance quote to get online. If you are buying a home and need more information, click on Detroit Homeowners Insurance.