One expense that Michigan motorists cannot afford to avoid is auto insurance. This is one expense you need to budget for, and ensure that you are well protected in case you have the misfortune of being involved in an auto accident. With a bit of online research and a few calls you can end up with a good deal that will pay huge dividends in the end. By comparing quotes online, you have the potential to save hundreds of dollars a year, if not more. In addition, you will receive adequate coverage that is required per Michigan state laws.
Michigan follows the ‘no fault’ system which means that every motorist must purchase PIP or Personal Injury Protection PIP, Personal Property Protection PPI, and Bodily Injury and Property Damage liability. Failure to possess adequate auto insurance can result in penalties, fines, and even a jail term. The minimum ‘no fault’ coverage includes loss of wages for up to three years, and medical and rehabilitation expenses in the event of an accident. Wages covered is up to the limit of $4,878 per month. In the event of injuries, you will be compensated $20 per day for any regular services such as house cleaning or yard work that you no longer can perform and need to employ someone else to do. All benefits are transferable to the family for up to a maximum of three years in the event of death of the insured motorist.
Michigan state laws require motorists to possess $20,000 per person as bodily injury liability, $40,000 for the injury or death per accident, and $10,000 as property damage liability. The ‘no fault’ system does not cover any damage to your vehicle which is why you ought to opt for additional insurance such as collision or comprehensive insurance. However, the amount of cover will depend on the value of your car, and what you can afford as monthly insurance premiums.
Michigan Auto Insurance Tips
Not surprisingly, Michigan is amongst the states with the most motorists who are required to procure adequate Michigan auto insurance in order to be eligible to drive on the state’s roads. However, thanks to technology it is easy to find affordable auto insurance. You don’t need to visit auto insurance providers personally. All you have to do is request for auto insurance quotes online. In a matter of minutes, you can have a set of free, no-obligation quotes at your fingertips from the best auto insurance providers in Michigan.
Since auto insurance is unavoidable, it is prudent to compare insurance rates online. In addition, you ought to educate yourself on the finer aspects of insurance coverage. You can begin by comparing quotes and the terms and conditions that some of the top insurance providers in Michigan offer. Most insurance companies provide first month free car insurance quotes with no obligation to purchase from them if you aren’t satisfied with their rates.
To begin with, make sure you provide the correct information when requesting for auto insurance quotes online. This is the only way you will receive an accurate quote and save yourself the trouble of being involved in any insurance fraud. Failure to disclose details can result in your insurance providers filing a suit against you. Keep all the information ready and enter the correct details.
By receiving auto insurance quotes online, you can compare rates from different providers and search for a policy that offers the maximum cover possible at an affordable price. Remember, you need to protect your vehicle, yourself, and members of your family. So, opt for the best. Not only can you obtain a policy within your means but you can also purchase one in a couple of hours. What’s more, you can take a print on your printer, which is enough proof of purchase.
Auto insurance companies have their own method of determining premiums based on various levels of coverage and features. Therefore, it is important to understand the basics of auto insurance in order to end up with an affordable policy. Price should be lower on your list of priorities; however, you can play a major role in reducing auto insurance costs. You can try to get affordable policies with low down payments, but of course, there are sacrifices to make, but it is well worth the effort.
However, a word of caution needs to be made. When comparing quotes, it is advisable to base your decision first on protection, and then price. Just to cut corners, there is no use compromising on coverage and end up spending thousands of dollars if you are involved in an accident. Think about all the financial stress that you will have to undergo just to save a few dollars. Given the broad spectrum of choices, make sure you don’t inadvertently choose a substandard policy. This will cost you a fortune in the long run.
Michigan state laws also mandate that you purchase an auto insurance policy from a licensed provider. Therefore, make sure you deal with a reputed auto insurance company. In the process, it is important to find a credible auto insurance provider with an impeccable claims record and solid customer support service. Most importantly, stay away from unbelievably low quotes. They may be a ticket to disaster. The bottom line is to be a smart shopper and do your homework prior to signing up with an insurance provider. Emergencies could crop up any time and you need all the support in the event of an accident.
To save on a comprehensive and collision policy you can opt for a higher deductible. However, make sure you can afford it since you will have to pay cash upfront if you are involved in an accident.
Don’t hesitate to ask for discounts. There are discounts for safe drivers, security features installed in your car, driving fewer miles, and much more. After all, it is your hard-earned money that you would like to save, so don’t shy away from such opportunities. For an older car, you could consider dropping collision coverage since depreciation catches up with older cars very soon.