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Shopping for car insurance may be one of the least exciting things you do. However, having enough coverage to protect your assets is a smart financial move and can make hitting the open road more pleasurable. Fortunately, it's some of the best car insurance companies that provide the lowest rates in Michigan.
For a "typical" driver with a clean driving record, the cheapest car insurance in Michigan is available through Geico, which offers an average annual rate of $1,486.
Other Michigan auto insurance carriers worth considering are:
Geico is the Michigan auto insurance champion when it comes to covering teen drivers. With an average rate of $2,908, they blow much of the competition out of the water.
Following behind are:
Current and former military members (and their families) enjoy relatively cheap auto insurance in Michigan through Geico, with an average annual rate of $1,486
Other competitive carriers include:
Drivers with accidents on their record can find it tough to find affordable car insurance in Michigan. Progressive makes it a little easier by offering an average rate of $2,416 to drivers with one accident on their record.
Other options include:
Geico is the big winner when it comes to Michigan minimum car insurance rates. For $854 a year ($71 per month) Michiganders can buy basic coverage.
Other companies offering competitive rates on Michigan auto insurance include:
The average cost of auto insurance in the state of Michigan is $5,377 annually, 46% higher than the national average of $2,875. The cost of your coverage depends on things like age, driving history, credit score, and where you live.
|AVERAGE RATE CATEGORY||MICHIGAN||NATIONAL AVERAGE|
|1 accident on driving record||$5,972||$3,226|
|1 speeding ticket on driving record||$6,046||$2,840|
Per Michigan car insurance laws, drivers caught driving without insurance can be hit with harsh consequences, including a fine of up to $500, a 30-day license suspension, a fee for reinstating their license, court cost, and a "driver responsibility" fee of $500 for two years.
If these minimum requirements seem higher than most states, that's because Michigan drivers are required to carry an above-average level of coverage.
Landing cheap car insurance involves shopping around and gathering car insurance quotes in Michigan. It also requires you to investigate all potential discounts.
The number of potential insurance discounts varies by the insurance company, but taking time to look through the options can save you money. Here are some of the ways you can save money:
You will also find that insurers base your rate quote, in part, on your credit score. If your credit score is low, taking steps to raise it can lower the rate you pay for auto insurance.
Last year, bipartisan legislation was passed to lower the cost of Michigan auto insurance. This legislation applies to auto policies issued or renewed after July 1, 2020.
Prior to the change, Michigan had the highest auto insurance benefits in the country. However, they also had the highest costs. Some drivers who could not cover the high cost of Michigan insurance drove uninsured. The new law makes it possible for drivers to reduce their premiums in exchange for giving up a portion of the previously required medical coverage. For Michiganders with their own health insurance policies, it can make sense to reduce personal injury protection (PIP) and save money. It's one way for the state to help people find cheap liability car insurance in Michigan so they can legally get behind the wheel of a car.
When you're wondering "how much is car insurance in Michigan?," it helps to remember that rates throughout the state are still higher than the national average, but it is possible to find low-cost car insurance if you look.
How much a driver pays for car insurance in Michigan depends on several factors, including:
Overall, Geico is the cheapest insurer for Michigan drivers -- particularly for those with clean driving records.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.
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