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Car Insurance Ypsilanti – Rachel Bodine graduated from university with a BA in English. She later worked as an underwriter in the insurance industry, gaining in-depth knowledge of state and national insurance laws and standards. Her research and writing focuses on helping readers understand their insurance and how to find savings. Her expert advice on insurance can be found on sites like PhotoEnforced, All…
Eric Stauffer is an insurance and banker turned consumer activist. His priority is to educate individuals and families about the different types of insurance. He is passionate about helping clients find the best insurance for their budget and personal needs. Eric is the CEO of C Street Media, a full-service marketing firm and the founder of ProperCents.com, a financial education…
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Editor’s Note: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything related to auto insurance. We update our website regularly and all content is reviewed by auto insurance experts.
Finding the right Michigan auto insurance provider is essential to meet your needs and budget. We get it.
You may have searched all over the internet for auto insurance providers in Michigan, but still haven’t found what you’re looking for. You may have visited every page in the top results, and they left you with more questions than answers.
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Life is short, and there aren’t enough hours in the day to pursue a seemingly endless quest. Good news. Look no further. We’ve gathered everything you need here in our Michigan auto insurance guide to answer all your questions.
Thanks to the new auto insurance laws in Michigan, what you paid for the best auto insurance in Michigan 2016 will look more expensive than the rates under no-fault insurance reform.
You want to find the cheapest car insurance in Michigan from the best company. This is your complete guide to Michigan auto insurance quotes, companies, insurance and everything else on the subject.
Get Michigan car insurance quotes at once with our FREE tool. Just enter your zip code to compare auto insurance rates in Michigan.
7221 Poplar Drive, Ypsilanti, Mi 48197
Michigan ranks fourth in the nation for uninsured drivers, meaning 20 percent of drivers there are uninsured. You may not want to count on them or be involved in any accidents, making your choice of insurance provider more worrying. With high auto insurance rates in Michigan, it’s no wonder people skip insurance, but it’s illegal.
Below we will cover how much coverage you need to meet Michigan insurance laws, as well as where you can find the cheapest auto insurance based on factors such as age, gender, and the average cost of insurance in Michigan in general.
Did you know that Michigan doesn’t just make cars? The Wolverine region is a manufacturing center and has become a leader in the production of grain, machine tools, aircraft parts and other products.
And it doesn’t stop there. The state also harvests its natural resources and produces large amounts of mineral deposits such as iron, copper and iodine, as well as beans, vegetables and fruits.
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The state is also famous for bordering four of the five great lakes: Lake Superior, Michigan, Huron and Erie. Almost half of the region consists of water. With that vast body of water and more than 10,000 lakes and 3,288 miles of Great Lakes coastline, Michigan keeps commercial and sport fishing going big.
What does this have to do with car insurance? Michigan is known as the automotive capital of the United States, and we reward the state’s innovation and significant contribution to our country.
Cars take us where we need (and want) to go, and for many passengers, including work.
Without car insurance, you won’t have financial coverage in the event of an accident. This protects us, and possibly the other drivers and injured parties involved, from higher damages costs.
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This makes a thorough understanding of the minimum insurance requirements across the state very important to determine how much coverage you need and can afford.
With its history and tradition of auto manufacturing, Michigan is the “king” of automotive culture. Home of Ford, Fiat Chrysler and General Motors, it is known as the birthplace of the American automobile.
Hartford states that “Not only is Michigan’s history deeply tied to the history of the American auto industry, but according to David Littman of DBusiness, as of 2015, “Michigan’s core auto industry represents are 46.4 percent of Michigan’s total manufacturing sector.”
Other important parts of the region’s automotive culture are the famous annual Detroit Auto Show (also known as the North American International Auto Show), the annual Ann Arbor car festival, and its historic landmark, the Henry Ford Museum. loves.
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Michigan has a lot of passion and respect for cars, and still makes more cars and trucks than any other state. In 2017, more than two million cars and trucks rolled off 11 assembly lines in Michigan, mostly in the “Motor City” of Detroit. Like some of the great cars it produces, its reputation as an automaker is solid.
Michigan is a no-fault state, which means that both parties to a car accident will receive benefits from their insurance companies, regardless of who is responsible. Part of the reason auto insurance rates in Michigan are so high is the no-fault system.
Michigan drivers must carry liability insurance, personal property protection (PPI) and personal injury protection (PIP). Liability coverage covers the cost of any damage, injury or death you cause in a car accident, while personal injury protection covers medical bills and expenses if you are injured in a car accident. Homeowner’s insurance will pay for repairs if you are driving in Michigan and damage another citizen’s property (such as buildings, parking lots, or fences).
When does auto insurance apply in Michigan? A new law that changes the “no-fault” insurance law goes into effect in June 2020 and should lower auto insurance costs in Michigan.
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The video is about the law and whether it will actually lead to lower insurance premiums. Some experts believe that your savings will be limited to the new personal injury protection (PIP) limits of $50,000 (Medicare driver only), $250,000, $500,000 or no limit.
Your basic liability will protect you if you are sued for damages and will apply in the following situations:
Under the Limited Property Damage or “Mini Tort” Coverage, if you are less than 50 percent at fault in an accident, you can receive up to $1,000 in property damage that your policy does not cover as a deductible. In July 2020, that amount will increase to $3,000.
The state of Michigan also requires drivers to have uninsured/underinsured motorist coverage of at least $25,000 per person and $50,000 per accident.
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How much risk are you willing to take? Experts recommend that if you choose to buy liability, be sure to increase the limit to 100/300/50.
Next, we’ll look at the types of financial liability that Michigan requires drivers to have in case of an accident.
In Michigan, the only acceptable form of financial responsibility is auto insurance. Except for people who happen to have a fleet of 25 or more vehicles – when you can apply for self-insurance for drivers – every driver must buy insurance.
In the event of an accident or traffic stop, show a paper copy of your insurance or be prepared to show it electronically.
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You can buy a policy with a limited term of at least six months, but remember that driving without insurance can result in fines, which we’ll cover later.
The annual disposable income per capita in Michigan – the amount individuals are willing to spend after taxes – is $36,419.00 or $3,034.92 per month.
The average annual car insurance premium is $1,350.58 or $112.55 per month. Wolverine County residents spend an average of 3.71 percent of their disposable income on auto insurance. Those rates increased slightly from 2012 to 2014.
These rates are higher than the national average of 2.37 percent, and those of the state borders of Ohio, Indiana and Wisconsin. Residents of those three states also pay nearly $600.00 less in annual insurance premiums than the average Michigander.
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Primary coverage consists of the three main components of a comprehensive insurance policy. Here’s how much Michiganders pay on average each year:
As shown, Michigan drivers pay more than the national average in all primary insurance categories.
Michigan law requires drivers to carry personal injury protection (PIP) and personal liability insurance. (Starting in July 2020, however, PIP will be optional.) You can choose to buy more coverage.
Is it worth it?
