Five Reasons You Need to Protect Yourself with Renter’s Insurance

If you’re renting a home, condo, townhouse, or apartment now or plan to in the future, here are some insurance tips to consider.

  • Renter’s insurance will cover the cost of belongings lost in a fire due to lightning, a windstorm or hailstorm.
    • Losing your belongings in a fire or storm can be devastating. Luckily, those with renter’s insurance are covered in these situations and can be compensated for their loss. Don’t assume the landlord’s insurance on the residence will cover your stuff. It won’t.
  • Renter’s insurance can protect you from theft.
    • While these policies cannot actually stop a theft from happening, they will cover the cost of lost items. Depending on whether a person chooses actual cash value or replacement cost personal property coverage, the insurance company will cover the depreciated value of the stolen items or the cost to replace them. Some renter’s insurance even covers identity theft!
  • If your home is damaged and uninhabitable, renter’s insurance can cover the cost of other living arrangements.
    • Most people don’t have the money to pay for a hotel while their home is being repaired. Luckily, renter’s insurance will cover the cost of living arrangements until their home is inhabitable again.
  • Renter’s insurance covers the costs of accidents that occur on a renter’s property.
    • If a person is hurt while on your property, you may be held liable, even if you aren’t necessarily to blame. The liability coverage in an insurance policy will protect you from being sued for medical bills or other costs.

If a person loses important items while traveling, renter’s insurance can cover that too.

  • Losing a suitcase while traveling is extremely frustrating! Most airlines will only reimburse customers up to a certain amount, which may be less than the lost items were worth.  Fortunately, renter’s insurance may cover the remaining cost of the lost items, which makes these policies all the more valuable to renters who frequently travel.

For more ways to protect yourself, your family or business – contact the experts at Michigan First Insurance Agency for your free, no-obligation quote at 844.788.0818 or visit Many members are finding savings with us. If you have home and auto coverage, you may find additional savings! If we can’t save you money this time, call us at your next renewal as insurance rates frequently change.

*Average Savings figure is a national average savings number from the previous 12 months of auto, homeowner and packaged policyholders’ savings per customer when compared to the policyholders’ former premiums. Individual premiums and savings will vary.

Michigan First Insurance Agency, LLC is a subsidiary of Michigan First Credit Union. Business conducted with Michigan First Insurance Agency, LLC is separate and distinct from any business conducted with Michigan First Credit Union or Michigan First Mortgage. Insurance products are not issued by or guaranteed by Michigan First Credit Union or Michigan First Mortgage.

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