Insurance companies calculate car insurance rates based on various risk factors, such as driver age and experience. By comparing quotes, you can find the most competitive car insurance rate for your needs at an affordable cost.
Minimum Coverage Mandated in Michigan
In Michigan, drivers are required to carry a minimum amount of liability insurance. These minimum limits protect drivers financially against paying for bodily injury and property damage that occurs as the result of an accident; however, these minimums do not fully cover all related costs associated with said incidents.
Most insurance companies encourage drivers to buy more coverage than the minimum required. Doing so can make a huge difference if you get into an accident, as it will cover both car repairs and medical bills.
Personal Vehicles and Additional Coverage
Your personal vehicle is an integral part of life in Michigan, so it’s only natural that you insure it with comprehensive and collision insurance. These coverage types protect your automobile against damages caused by theft or natural disasters as well as losses caused by accidents.
Policies can be purchased individually or combined. An online car insurance calculator or quote tool allows you to compare the costs and advantages of these basic coverage options side by side, so you can make an informed decision about which is best suited for your needs.
High-End Vehicles and Insurance
The higher the value of your car, the greater its vulnerability to damage or theft. Insurance companies will charge higher premiums for more expensive models since these cars tend to attract thieves and vandals and thus are more likely to become involved in an auto theft or collision.
Young Drivers and Insurance
Young drivers have an increased chance of being involved in accidents, which could raise their insurance rates. Therefore, it’s wise to shop around for car insurance as soon as possible and consider purchasing a policy with comprehensive and collision coverage.
Conviction Due to DUI or Reckless Driving
A conviction on your record could impact both your insurance rates and driving privileges, since insurers view a DUI or reckless driving conviction as evidence that you pose an increased risk.
Refusal to Present Proof of Insurance and Driver License Suspension
Michigan is very strict when it comes to driving without proper vehicle insurance. Those found breaking this law face misdemeanor charges that include a fine and license suspension.
Maintaining Your Coverage Current and Achieving a Clean Driving Record
The primary factor that impacts Michigan car insurance rates is whether or not you keep your existing policy active. If you let it lapse or don’t renew it, higher rates will apply than those who keep their coverage current and have an excellent driving record.