Michigan car insurance is mandatory by law for anyone operating a motor vehicle. At the very least, every driver must have the most basic of insurance coverage, no-fault insurance. If for some reason, you don’t have insurance and you get into an accident, you’re going to be in for a world of financial pain and suffering.
If you’re in an accident without insurance, you’ll be held responsible and liable for all damages resulting from the accident. The other party will also have the ability to take legal action on you, which will cost you dearly. Be smart and have Michigan car insurance, otherwise don’t drive a motor vehicle.
There’s a variety of optional insurance add-ons that can be purchased along with the no-fault policy. These other options can be valuable, depending on the situation you’re in and the extent of the damages. If you decided to purchase any of the additional options, they will add to your total premium cost.
Michigan insurance companies are regulated by state laws, which mean they are essentially competing against each other to have the lowest rates, to gain the most amount of customers possible. Shopping around and getting a variety of quotes is in your best interest, if you want to save some money.
There are additional methods to save money on your premium as well. For example, taking a higher deductible will often lower your premiums. Some companies will also have multi-policy discounts, if the company insures a few of your properties. Some companies will give you a discount if you have an alarm installed on your car. You should always ask the insurance company if there are additional discounts, that you can take advantage of.
An insurance agent that has years of knowledge in the field, might already know which companies have the best rates, the best discounts and the best claims service. They can be an invaluable asset in navigating through insurance paperwork and helping you understand the small print in an insurance agreement.
Always make sure you’re fully aware and understand each and every provision in your insurance agreement. The last thing you want is to get into an accident and end up finding out, you’re not covered for a specific portion of the accident. At the same time, don’t get sold on a coverage option, that you don’t necessarily need. It’s easy to fall victim to sales tactics, but try to know exactly what you need and stick to it.