How much is renters insurance in Grand Rapids, OH

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Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

After carefully evaluating renters insurance companies, we’ve compiled a list of the most affordable insurers for Grand Rapids renters. Keep reading to learn which insurers offer the lowest rates in Grand Rapids

Key Takeaways

The average cost of renters insurance in Grand Rapids is $260 annually or $22 monthly.
The cheapest option for renters in Grand Rapids is Grange Mutual, offering coverage at $13 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

What is the average cost of renters insurance per month in Grand Rapids?

On average, the cost of renters insurance in Grand Rapids is $22 a month. It’s $1 more than the state average of $21. Renters in Grand Rapids pay these rates for the coverage limit of $40,000 in personal property coverage, $1,000 deductible and $300,000 in liability protection coverage.

The renters insurance rates vary by city depending on your insurance provider and the coverage limits you choose. For example, renters in Grand Rapids pay $16 per month for personal property coverage of $20,000 and a $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $6 more for renters insurance.

Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended that you choose higher coverage limits if your personal belongings consist of expensive jewelry, furniture and electronics.

How much is renters insurance in Grand Rapids by deductible?

The renters insurance cost in Grand Rapids is $207 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $15 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$207	$278	$347
$1,000	$192	$260	$326

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Grand Rapids?

Your quest for the cheapest renters insurance ends here.

Grange Mutual provides the cheapest rates in Grand Rapids, with an annual premium of $160 or $13 per month. Auto-Owners is the second cheapest company, followed by Nationwide.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Grand Rapids to create a list of the most affordable insurers. Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
Grange Mutual	$160	$13
Auto-Owners	$200	$17
Nationwide	$217	$18
Allstate	$246	$20
Erie Insurance	$269	$22
State Farm	$308	$26
American Family	$351	$29
Travelers	$544	$45
USAA	$210	$17

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Grand Rapids:

Bundle policies: If you have other insurance, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Grand Rapids offer savings for bundling policies.

Increase your deductible: Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount: Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims: Filing multiple small claims can drive up your rates. If possible, consider paying for minor damages out of pocket to keep your premium low.

Shop around for quotes: Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Grand Rapids to find the best coverage at the lowest price.

Final thoughts

Renters in Grand Rapids, OH should purchase renters insurance to protect their belongings and financial health. The cost of coverage varies based on your location, coverage limits and individual circumstances. To find the best deal, evaluate your coverage needs, compare quotes from different providers and take advantage of any available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Grand Rapids for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.