How to Save on Car Insurance in Michigan

Michigan Auto Insurance rates

It’s no secret, car insurance in Michigan is very expensive. For the fifth year in a row, Michigan has ranked as the most expensive state for Car Insurance. In 2018, The average car insurance premium for Michigan residents is 64% higher than the national average premium. So far for 2019, our own research has shown that currently Michigan drivers are paying on average $1,300 for a one full coverage vehicle. This is $346 higher than the national average. The national average currently stands at $954 per year. With premiums so…

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Department of Justice proposes reform to stop insurers from using credit scores for screening

The government of New Brunswick has proposed a number of regulations that may stop car insurance companies from being able to include data relating to an individual’s credit score in order to determine whether or not they will insure them, and what their premiums will be every month. There were a number of draft regulations posted by the Department of Justice on its website for public consultation that would change the guidelines for underwriting by insurers. The consumer advocate for insurance of New Brunswick, Ronald Godin, began his push for…

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MAIA proposes 2012 referendum ballot to stop socioeconomic factors from impacting auto insurance premiums

The Massachusetts Association of Insurance Agents (MAIA), a group based in Milford, has put forth a proposal for the 2012 election for a ballot referendum that would stop auto insurers from becoming able to use socioeconomic factors to underwrite their insurance. This practice is already banned by the state, but the MAIA is seeking to continue making it illegal to use information such as a person’s education, job type, and credit score for determining an individual’s auto insurance premiums. That said, organizations that represent auto insurers are arguing for the…

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A bad credit score can mean costly insurance rates

Insurance and credit

Drivers with bad credit have always had a problem obtaining affordable car insurance. Few insurance companies would deny offering coverage to such drivers, but the policies available tend to be pricey. Between insurance premiums and deductibles, some of the cheapest policies drivers with bad credit can get will cost them more than $300 every month. GEICO and Farmers are two insurers looking to ease the stress of the issue by offering plans tailored for motorists with bad credit. Credit score plays a vital yet little known role in how insurance…

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