Average Price Of Car Insurance In Michigan

What Is The Average Cost Of Car Insurance In Michigan?

Michigan is one of the most expensive states to insure a car. According to data from the National Association of Insurance Commissioners (NAIC), the average annual cost of car insurance in Michigan is $2,738. This is the second-highest average rate of all states. Only Louisiana has a higher average rate, with an annual cost of $2,845.

The average cost of car insurance in Michigan is nearly double the national average, which is $1,470. It’s also more than three times the cost of the cheapest state for car insurance, Maine, which has an average annual rate of $894.

What Factors Impact The Cost Of Car Insurance In Michigan?

There are a variety of factors that can impact the cost of car insurance in Michigan. The cost of car insurance depends on your individual circumstances, including your driving record, credit score, age, gender, and the type of car you drive.

In Michigan, insurance companies can also use non-driving related factors, such as your occupation, ZIP code, and education level, to determine your car insurance rates.

Michigan is a “no-fault” insurance state, which means that each driver is responsible for his or her own medical costs after an accident. This means that Michigan drivers are required to have personal injury protection (PIP) coverage, which is an additional cost.

What Are The Cheapest Car Insurance Companies In Michigan?

The cheapest car insurance companies in Michigan vary depending on your individual circumstances. However, there are some insurers that tend to have lower rates than others. According to a study by The Zebra, the cheapest car insurance companies in Michigan include Auto-Owners Insurance, Frankenmuth Insurance, and Hastings Mutual.

Auto-Owners Insurance offers an average annual rate of $1,388, which is $1,350 less than the state average. Frankenmuth Insurance offers an average annual rate of $1,429, which is $1,309 less than the state average. And Hastings Mutual offers an average annual rate of $1,491, which is $1,247 less than the state average.

What Are The Best Car Insurance Companies In Michigan?

The best car insurance companies in Michigan are those that offer the most comprehensive coverage at the best rate. According to a study by J.D. Power, the best car insurance companies in Michigan are Auto-Owners Insurance, Auto Club Group, and State Farm.

Auto-Owners Insurance and Auto Club Group both received five out of five stars for overall satisfaction, while State Farm received four out of five stars. All three of these companies offer the most comprehensive coverage at competitive prices.

Is It Legal To Drive Without Car Insurance In Michigan?

No, it is not legal to drive without car insurance in Michigan. All drivers in Michigan are required to have a minimum amount of liability coverage. Drivers who do not have insurance can face stiff penalties, including fines, license suspension, and even jail time.

For those who cannot afford car insurance, the Michigan Automobile Insurance Placement Facility (MAIPF) offers low-cost liability insurance. The MAIPF is a state-run program that helps drivers who have been unable to find insurance in the private market.

Conclusion

Michigan is one of the most expensive states for car insurance, with an average annual cost of $2,738. The cost of car insurance depends on a variety of factors, including your driving record, credit score, age, gender, type of car, and occupation. The cheapest car insurance companies in Michigan are Auto-Owners Insurance, Frankenmuth Insurance, and Hastings Mutual. The best car insurance companies in Michigan are Auto-Owners Insurance, Auto Club Group, and State Farm. Finally, it is illegal to drive without car insurance in Michigan, and those who cannot afford car insurance can look into the Michigan Automobile Insurance Placement Facility (MAIPF).