10/11/2023 0 Comments Compare auto insurance rates michigan![]() In Michigan, the average monthly rate for a driver who is currently insured is $135.08 while drivers who not currently covered will pay around $614.07 CoverageĬar insurance companies will also look at your education level. Because of this, they may see you as a higher risk driver. Since car insurance is a requirement in all 50 states, companies may question why you don't currently have coverage. More often than not, drivers who currently have car insurance coverage will receive a cheaper monthly rate than drivers who do not. ![]() In Michigan, drivers who own their home will usually pay around $135.91 per month while drivers who rent usually average in around $132.55. Insurance companies will also take homeownership into account when factoring the rate you pay for insurance. Michigan Auto Insurance Rates by Homeownership Safe Driver (No prior tickets, DUI, or accidents) ![]() Drivers with a bad driving history that may include tickets, DUI, or accidents will typically pay $174.97 per month. Drivers in Michigan with a good driving history usually pay around $129.78 per month. ![]() Car insurance companies see drivers with a bad driving history has being a bigger risk. Credit RatingĬar Insurance for High Risk Drivers in Michiganĭrivers with a good driving history typically will pay less for auto insurance than someone that had a DUI, speeding tickets, or an accident. In Michigan, drivers with excellent credit pay an average of $124.77 per month compared to drivers with poor credit who typically will pay $193.14 per month. Insurance companies also take your credit score into consideration. Your age, location, and vehicle are all part of the equation. Many factors go into the rate you pay for car insurance. Marital StatusĪverage Car Insurance Rates in Michigan by Credit Score In Michigan, Married couple typically pay around $138.87 per month while single drivers average in around $151.46 per month. Married couples also will usually have more than one vehicle and could possibly have some teen drivers on the policy as well. This likely due to the simple fact that there is more than 1 driver on the policy. Married couples in Michigan typically pay more for their car insurance than drivers who are single. Michigan Car Insurance Rates by Marital Status In Michigan, the typical teen driver between the age of 16 and 19 will pay $229.56 per month while a driver in their 40s will pay an average of $133.09 per month. Insurance carriers see young drivers as inexperienced and have a greater risk of getting in accident. Ohio ranked as the state with the cheapest rates for 2022.Typically car insurance companies will charge more for younger drivers and provide discounted rates for older drivers. States with a higher ranking than Michigan on the recent list are Florida, Louisiana and Delaware. Under the bipartisan auto no-fault reforms, insurance companies were required to reduce statewide average personal injury protection (PIP) medical premiums for eight years, which contributed to the savings, according to the Michigan Department of Insurance and Financial Services. McDonough also noted the $400 refunds received by 7 million Michigan drivers this past spring as an indication of the reforms’ benefits. “Bipartisan auto no-fault reforms have cracked down on fraud, reined in overcharging by medical providers and have provided consumers a choice - all while continuing medically necessary care and offering the highest personal injury protection coverage in the nation,” McDonough said. Recent changes to their system are responsible for their drop to fourth place this year, according to the rankings,” the report said.Įrin McDonough, executive director of the Insurance Alliance of Michigan, said recent reforms have helped with the former “broken” no-fault system. “Michigan uses a unique no-fault system that has resulted in sky-high rates for years.
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