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Holland renters insurance can save you from financial catastrophe after a natural disaster or break-in. Though it is not required by most landlords and property managers, Michigan renters insurance protection is a necessary expense for people who rent their homes. Renting has its advantages, namely that the owner is responsible for maintenance and structural damage, but those obligations do not include the contents of your house or apartment. Your personal property is your responsibility, and that is where Holland renters insurance comes in handy.

Just because you do not own your home does not mean you do not have assets. Loss or damage that occurs as a result of a storm, accident or theft can put you out thousands of dollars. Furniture, electronics, appliances and your other belongings can be expensive to replace or repair. If your things are lost or damaged under a number of circumstances, Holland renters insurance will compensate you for that loss. It is too late to protect yourself after disaster strikes, so contact a Holland insurance agent today to start your own renters coverage policy.

Holland is located in western Michigan near the eastern shore of Lake Michigan. Holland is the seventh largest city in MI and home to Hope College and the Western Theological Seminary. College towns tend to have many student renters, and college students are also common targets of theft. Holland renters insurance is a necessary expense to protect your personal property.

What Your Policy Covers

Unlike car insurance policies that are highly customizable, Holland renters insurance policies come with relatively standard coverage. Holland policyholders can control their limits and deductibles and add riders and endorsements for special collections and certain disasters, but shoppers are not faced with the tough question of what kind of coverage they can afford. Renters insurance policy purchases are incredibly affordable--most cost between $10 and $20--and they include all the coverage you need for almost any situation.

Renters insurance is a form of MI homeowners policy that omits coverage for structural damage. Since that is the responsibility of the Holland property owner, only your personal belongings need protection. The first form of coverage in your Holland renters insurance policy is coverage for your personal belongings. The limits for this coverage are based on the value of what you own, as determined by an inventory you submit.

The value of your belongings may only be protected under specific circumstances, as listed in a named perils policy. Standard named perils include fire, windstorm, weight of ice and snow, fallen objects, explosion, vehicle collision, theft and vandalism, among others. The alternative is an open perils policy, which covers the loss of property regardless of circumstance. Open perils policies are much more expensive, and named perils policies cover virtually all circumstances of concern. Most perils that are not included in the named perils policies, like flooding, hurricanes or earthquakes, can be purchased as additional policies or riders.

Your policy also covers alternative living arrangements if your rental home is rendered unlivable by a named peril. Coverage will include any costs above what you normally pay for rent and utilities until your rental unit is repaired or you are given a new residence. The third and fourth types of coverage regard regard other people who are injured on your property. They are liability and medical payments coverage.

Liability Coverage for Renters

Most states require drivers to carry liability coverage, Michigan not included. Much like car insurance, liability covers your legal costs if you are sued for negligence. If a neighbor falls on your wet kitchen floor, she could sue you for damages like lost wages, pain and suffering and her medical bills resulting from the fall. The fee to your attorney and any settlement or judgment can wipe out your savings, assets and future wages, even catapulting you into bankruptcy.

Liability coverage takes care of those fees, and your Holland renters insurance provider will appoint an attorney to handle all negotiations and court proceedings. Coverage usually starts at $100,000, and you can raise that limit to suit your needs. The final form of coverage pays the medical bills of people injured on your property up to a reasonable limit. If your friend chooses not to sue after her fall, your Holland renters insurance policy will still cover her expenses. The standard starting limit is $1,000.

Holland renters insurance can get you back on your feet faster after a natural disaster, electrical fire or theft. MI residents see their fair share of snow, ice and other weather conditions that can damage structures and property therein and cause accidents that lead to negligence suits and trips to the hospital. Many who rent their Holland homes mistakenly expect their landlords to cover property damage. Don't get caught without coverage. Fill out our easy-to-use form for a free rate quote and to contact a local agent.