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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Michigan auto insurance rates are increasing yet again

Michigan Auto Insurance Rates - Graph - Auto Insurance rates on the rise

Drivers throughout the state are bracing to once again pay more for their no-fault coverage. Michigan auto insurance rates are about to head upwards yet again. Motorists are accustomed to seeing their premiums rise as a result of the ever-increasing no-fault coverage fees. Now, many will need to tighten belts even further to help them afford the new rates in the state. The rising Michigan auto insurance rates have been problematically high for several years. The upward trend of coverage costs has been a persistent one. State lawmakers have repeatedly…

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Auto insurance no fault regulation in Michigan could change

michigan auto insurance

Many people in the state are pushing to have this required element of the policy removed due to cost. The Insurance Institute of Michigan, insurers, other people in the industry, and the residents of the state are now recognizing that the auto insurance in the state requires some changes in order to keep its rapidly rising costs under control. The no-fault portion of the required coverage in the state is leading the cost of car ownership skyward. Now many are starting to feel that this auto insurance system is ready…

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Michigan insurance news – no-fault fund transparency

Michigan Auto Insurance news

  Every car in Michigan pays a $175 yearly fee to the Michigan Catastrophic Claims Association. In recent insurance news, one Judge in Ingham county decided that the public fund should be open for review so residents can understand how the fund sets the annual rate. No-fault and catastrophic loss The MCCA was created by state legislation to help Michigan insurance companies that pay out more than half a million in claim money to people in car accidents and suffer life altering injuries. This limit is for individual claims. Residents have…

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New no fault Michigan auto insurance bills passed a House committee

Michigan Auto Insurance news

Reforms exclude certain populations for payment eligibility. A number of Michigan auto insurance bills which each contain an exclusion for certain populations from being able to collect payments under the no fault law in the state, have passed a House committee. This underscores the legislative attempts to change the system that is compensating injured people in car accidents, no matter who caused it to happen. Those supporting the bills have said that the number and size of the payouts from the personal injury protection (PIP) system have spiked over the…

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No-fault Michigan auto insurance struggling with spike in claims expenses

According to a recent study performed by the Insurance Research Council (IRC), the no-fault system for Michigan auto insurance has experienced an increase of 192 percent in the average claimed losses for lost wages, medical expense, and other injury-related costs linked to vehicle accidents within the state, in a period from 2002 to 2001. The IRC study of auto injury insurance claims in no fault systems also demonstrated that within that same period of time, there was an average increase of 13 percent every year within that state. It identified…

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Ranking the states by the cost of auto insurance coverage

According to the Insure.com study results, which have only just been released, Louisiana is the state in which it is most expensive to insure a vehicle in the entire country, whereas Maine enjoys the lowest insurance rates in the U.S. The average annual cost of insuring a car in Louisiana is $2,536, whereas in Maine the average cost is only $889. The issues that have been driving the rates higher in many states includes the insurance laws within those states, larger numbers of drivers without insurance, the number of different…

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