In our last blog piece, we discussed 5 reasons to get renters insurance. Here we will discuss renters insurance in Michigan and why you should consider getting it if you live in Grand Rapids.
Grand Rapids: A Great Place to Live
Grand Rapids, Michigan has repeatedly been named one of the best places to live in the United States. This year U.S. News & World Report ranked it the 16th best city to live in America, listing its natural beauty, appreciation of art, and vibrant craft brewery scene as reasons. It’s also much more affordable than many other metro areas. There’s a reason why it can be challenging to find a place to live in downtown Grand Rapids or around the city.
If you’re moving here from elsewhere, you may find that you will need to purchase renters insurance, however. Many apartment buildings in the city are now requiring that their tenants show proof of renters insurance from the insurer. If you do not have renters insurance, the building will then provide it for you and include the expense with your rent.
There are a number of reasons for this. By requiring renters to purchase insurance for their personal property, landlords can avoid liability claims from their tenants if a fire or an accident occurs. It also “weeds out” anyone who cannot afford the additional expense which allows the building to control whom they rent to by income.
This may not seem like such a bad deal, having the landlord do the extra work and paying the expense bundled in with your monthly check. Unfortunately, in many cases, the tenants are paying more for this insurance and finding out the hard way that it covers less.
The Building’s Insurance Does Not Cover Your Belongings
You may think that, in the event of a fire, a break in, or an accident, the landlord’s insurance will cover you, but that isn’t the case. The building is covered against losses to itself from various causes. Your property is not covered and will not be replaced unless you have your own renters insurance policy.
Is Renters Insurance Required in Michigan?
The State of Michigan does not require tenants to purchase renters insurance. Landlords can, however, require some form of coverage. There may be a clause in your lease stating: “Lessee is required to provide proof of renters insurance within 14 days of the lease start date.”
There are many benefits to purchasing your own policy and minimizing your risk. Renters insurance is not very expensive, and it provides coverage of all your property as well as liability coverage for accidents or incidents that occur in your apartment. It protects your property while you travel as well.
Renters Insurance in Grand Rapids
If you already have renters insurance in Grand Rapids because your apartment building included it with your rent, you can cancel your old policy at any time. You will be refunded the balance of what you have paid already. Make sure that you do not cancel it before your new policy is effective, though. You can cancel the old policy effective the same day you issue the new one so that you will be continuously covered.
To discuss your insurance needs, call Navisure Insurance Group anytime. We will be happy to provide you with the insurance coverage you need to protect you from risk and give you peace of mind.
COREY VANDERMEER | PRESIDENT
Corey started his insurance career in the claims department for a national carrier and learned the basics of insurance coverage and how it’s applied. From there he decided to take the jump into sales and joined an independent insurance agency. Here he learned how to build coverage around the needs of each individual and cater to every client. When Corey decided to start an insurance agency he did so with the intention of simplifying the process of getting insured. With a focus on technology and simplicity; his goal was to create an insurance agency that was different from those currently dominating the market place.
When he’s not working, Corey enjoys golfing, fly fishing and spending time with his wife and kids. Together they enjoy traveling to Northern Michigan and to his wife’s hometown of San Francisco.