We studied renters insurance rates for a sample policy that included $30,000 of coverage in 121 cities in the state of Michigan in order to determine which cities had the highest and best annual renters insurance costs. Based on our study, Michigan renters pay on average $407 per year for their renters insurance. Renters insurance quotes in Michigan vary substantially more than they do in other states. In fact, renters insurance prices in Michigan can vary by as much as 214%. Below, we profile the most and least expensive cities in Michigan for renters insurance. Read more about our findings, or use our quote tool above to find renters insurance quotes in your area.
Cheapest Renters Insurance Companies in Michigan
We collected quotes for our sample residence across 121 cities from State Farm, Allstate, Liberty Mutual and Farmers. Quotes from each company were averaged to find which insurance companies had the best renters insurance rates in Michigan. The graph below shows the average annual costs to insure our sample residence by company alongside the state average:
Top 5 Best Cities for Renters Insurance in Michigan
1. Dexter, MI
Dexter is a small city in Michigan located approximately 52 miles west of Detroit. The city is named after Samuel William Dexter, a Harvard graduate and lawyer, who decided to buy a large plot of land that would eventually become the city of Dexter. While the city’s streets were planned out in the 1830s, it wasn’t until 2014 that Dexter executed a charter, which officially made it a city.
Dexter has the best renters insurance quotes in Michigan. Residents of Dexter pay an average annual renters insurance rate of $320, which is 21% less than the state average. Based on our study, State Farm provides the most affordable renters insurance quotes in Dexter by a margin of $61.
2. Grand Rapids, MI
Grand Rapids is the second largest city in the state of Michigan. Grand Rapids is known as a college town as the city has over 15 higher education institutions located within its metro area. Some of the universities located within Grand Rapids’ city limits include Western Michigan University and Central Michigan University.
Grand Rapids has the second cheapest renters insurance quotes in Michigan. Our research found that the average annual cost for renters insurance in Grand Rapids was $321, which is 21% less than the state mean. Similar to other cities in Michigan, State Farm offered the most affordable renters insurance rates in Grand Rapids. Allstate was the only insurance company that offered a renters insurance quote that was greater than the state average.
3. Holland, MI
Holland was founded in the 1850s by Dutch immigrants led by Albertus C. VanRaalte. The group originally intended to settle in Wisconsin, but travel delays and an early winter caused the group to set-up camp near Lake Macatawa. The settlement near Lake Macatawa eventually became the city of Holland.
Holland is the third best city for renters insurance in Michigan. On average, residents of Holland pay $331 per year for their renters insurance policies, representing a rate that is $76 less than the state mean. The cheapest renters insurance quotes in the city were offered by State Farm by a margin of $121.
4. Grayling, MI
The city of Grayling was founded in 1872 when timber was one of the region’s largest industries. In fact, the land that the city sits on was cleared by Rasmus Hanson and other lumbermen. Today, those visiting Grayling have the option to stay in Hanson’s original family home as it functions as a bed and breakfast.
Grayling ranks as the fourth best city for renters insurance rates in Michigan. The average annual renters insurance quote in the city is $332, which is 18% less than the state average. We recommend comparing quotes between State Farm and Liberty Mutual as the two insurance companies offered the lowest renters insurance rates at $211 and $265 per year, respectively.
5. New Buffalo, MI
New Buffalo sits on the coast of Lake Michigan and near the Michigan-Indiana border. The city’s largely known for its tourism industry, which is aided by its proximity to two large American cities, Chicago and Detroit. In fact, today, there are six daily trains that transport people from New Buffalo to Chicago.
The best renters insurance quotes in New Buffalo are offered by State Farm. It offered our sample policy an average annual rate of $228, which is $179 less than the state mean. New Buffalo is the fifth best city for cheap renters insurance quotes in Michigan.
Top 5 Most Expensive Cities for Renters Insurance in Michigan
1. Flint, MI
Flint ranks as one of the least safe cities in Michigan. In recent years the city has been plagued by a water crisis stemming from lead contamination in Flint’s water supply. The State of Michigan and the City of Flint are working through recovery. The state has provided Flint with over $250 million to help with water quality improvements.
Flint is ranked as the least affordable city for renters insurance in Michigan by a margin of $186. On average, residents pay $1,004 per year for renters insurance, which is 147% greater than the state mean. Based on our study, every quote gathered in Flint was greater than the state average of $407.
2. Ferndale, MI
The city of Ferndale is located approximately 12 miles north of Detroit. Ferndale’s downtown region is home to over 250 businesses. Additionally, the city’s downtown area is home to several popular events throughout the year, including the Blues Festival and the Holiday Ice Festival.
The most affordable renters insurance quotes in Ferndale were offered by Farmers at a rate of $359 per year. The next most affordable renters insurance company in the city was Liberty Mutual. Ferndale ranks as the second least affordable city for renters insurance in the state. Residents pay an average annual cost of $819 for renters insurance.
3. Southfield, MI
Although Southfield is considered a suburb of Detroit, it is its own city. Southfield offers its residents an abundance of outdoor activities. The city has over 50 miles of cycling and nature trails. Additionally, Southfield is home to the Carpenter Lake Nature Preserve, which boasts over 770 acres of green space.
Based on our research, annual renters insurance quotes in Southfield vary by $1,043. Southfield ranks as the third least affordable city for renters insurance in the state. On average, residents pay $763 per year, which is 87% greater than the state mean. Farmers is the most affordable insurance company by $197, which is greater than some renters insurance quotes offered in other cities.
4. Detroit, MI
Detroit is the largest city in Michigan and one of the nation’s biggest as well. Detroit is best known for its central role in the American automotive industry. While the city’s largest employer is Ford Motor Company, several of the Detroit’s fastest growing companies are in varied sectors, such as healthcare and aerospace. In fact, there are over 13,000 healthcare-related entities located in the Detroit region.
Based on our study, Detroit ranks as the fourth most expensive city for renters insurance in Michigan. On average, residents of Detroit pay $710 per year for renters insurance, which is 74% greater than the state mean. Renters insurance rates in Detroit vary by over $1,000, so, it’s best to shop around and receive multiple quotes before purchasing coverage.
5. Novi, MI
Novi is a medium sized city in Michigan, which is located approximately 29 miles northwest of Detroit. The city sits along Interstate-96, which bisects most of Michigan from east to west. The city’s transition from a village into a city was headed by several grass root organizations, including the Willowbrook Community Association.
State Farm and Farmers both offered renters insurance quotes in Novi that were less than the state average. Based on our study, Liberty Mutual ranks as the most expensive renters insurance company in the city. The city of Novi is the fifth least affordable city for renters insurance in Michigan. Residents pay, on average, $182 more per year for renters insurance than the state average.
We studied 121 cities, spread out geographically throughout the state of Michigan. The sample renters insurance policy we gathered quotes for included $30,000 of coverage. Quotes were obtained from State Farm, Allstate, Liberty Mutual and Farmers insurance companies. We’ve displayed all cities with the average annual cost of renters insurance for our benchmark policy and how much each city costs relative to the statewide average.
|Rank||City||Average Annual Renters Insurance Rate||Cost Compared to Average|
|109||Grosse Pointe Farms||$486||19%|
|14||Sault Sainte Marie||$340||-17%|