Michigan Auto Insurance No-fault Regulations and Policy Requirements

Michigan is one of those out-of-the-ordinary states that has obligatory no-fault car insurance. In fact, every car owner in the state must have a Michigan auto insurance policy that includes personal injury protection (PIP), property protection insurance (PPI) and residual liability insurance for bodily injury and property damage (BI/PD). PIP and PPI have standard coverage limits, however for BI/PD, the state mandates minimum limits of 20/40/10. This translates to $20,000 coverage per person for bodily injury liability; $40,000 coverage total per accident for bodily injury liability and $10,000 for property damage liability. There are also several other auto insurance options available to buy that will increase the amount of coverage and protection you have.

In today's economy everyone is looking for cheap car insurance but you don't want to completely sacrifice quality coverage. Some tips on how to save money as you shop for your Michigan auto insurance coverage policy include the following.

  • Even if you have a newer model car or a financed vehicle, and you need to carry comprehensive and collision coverage, raising the deductibles for each of these will lower your premium. It simply means that if you are in an accident the amount you pay before the insurance picks up the tab is higher. If you're a good driver, it is a good deal.

  • Piggyback your auto policy onto your homeowner's policy to get a discount on both.

  • Improve your driving record by taking a defensive driving or other type of course to erase a minor citation.

  • Your credit score impacts the premium you pay for your Michigan auto insurance. You can improve your credit score by repairing errors. Simply consult your credit report via Equifax, Experian or TransUnion and check to make sure it is accurate. If not, follow the stated procedure for corrections.

  • Be sure to also ask the company you are considering doing business with if you have all the possible discounts you can get.

Competition is alive and well in the car insurance marketplace. Some of the many Michigan auto insurance companies include:

  • AIG
  • Allstate
  • GEICO
  • Farm Bureau
  • Liberty Mutual
  • State Farm
  • Safeco
  • Nationwide
  • USAA

When choosing amongst the many companies offering coverage in Michigan, be sure to do your homework. You can find out a company's complaint ratio by checking the Financial and Insurance Regulation section of the Michigan state government website. You can also determine the financial stability of a prospective insurer by checking their insurance rating as given by one of the independent insurance ratings companies like Standard & Poor's or Weiss Ratings.

You can save money on car insurance by shopping around for the best possible prices. The easiest way to do this is to use an online quote tool that gives you multiple car insurance rate quotes from competing insurers in your area. You just answer the questions online once and all the work is done for you. Get started now and get the best deal possible on your Michigan auto insurance.

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In addition to the standard 20/40/10 minimum liability coverage limits, your policy for Michigan auto insurance must also include PIP and PPI clauses.

You can save money on your policy for Michigan auto insurance by protecting your credit rating, completing a driver's improvement course and more.

Check additional valuable information of your State Insurance department organization.
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