Michigan Auto Insurance
Anyone owning a car in Michigan will need to have Michigan auto insurance. This is because no-fault car insurance is required in the state. Even though it not optional to have car insurance in Michigan, you do have a say in which company you select to insure you, as well as what premium that you pay them. A terrific resource for this type of comparison shopping is The Office of Financial and Insurance Regulation, also called OFIR. They are able to assist you with the information that you will require to better comprehend the factors influencing your insurance premium as well as to offer you some tools for shopping around for a better premium or for an alternative insurance firm.
As mentioned previously, Michigan car insurance requires by law that any person or family owning a car keep it insured with no-fault coverage. This means that all registered cars have to be insured. Those of you who have a car that you drive, or which you let someone else drive, must be insured, or you could be sued and deemed liable for any and all damages associated with an accident in which that car is involved. In theory, you might be found guilty of a misdemeanor and either fined a range of $200 to $500, or possibly incarcerated for as much as a year, or conceivably suffer both penalties together.
On a more positive note, having car insurance in Michigan offers numerous benefits. Since Michigan auto insurance possesses the most thorough no-fault car insurance program in all of the country, an insured automobile under Michigan law will provide you and your family with wage loss benefits, limitless rehabilitation and medical benefits, and $20 each day for replacement costs good for as long as three years should you be hurt in a car accident, no matter whose fault the accident is. Such security is a powerful motivating factor for purchasing auto insurance in Michigan.
Michigan car insurance no-fault policies include three distinct sections which must be obtained and maintained on each car. They include Personal Injury Protection, also known as PIP; Property Protection, also called PPI; and Residual Bodily Injury and Property Damage Liability Insurance, also called BI/PD for short. Personal Injury Protection covers any required medical fees should you be injured in a car accident. Property Protection covers as much as a million dollars for any damage that your car causes to other individuals’ properties in Michigan, like fences or buildings. Residual Bodily Injury and Property Damage Liability Insurance covers costs for defense, as well as any damages that you are deemed to be responsible for resulting from a car accident, all the way up to the policy’s limits. The minimum amounts of insurance protection that each car owner in Michigan must have are $20,000 for an individual injured or killed in a wreck, $40,000 for each wreck if several people are injured or die, and as much as $10,000 for property damage occurring in a different state. Such minimum amounts are typically known as 20/40/10.
For more information on all of the various required no-fault coverages in Michigan, consult the document a Brief Explanation of Michigan No-Fault Insurance. Further information may also be acquired by reading the two Michigan government publications, A Consumers Guide to No-Fault Automobile Insurance in Michigan and the Buyers’ Guide to Auto Insurance in Michigan.Getting michigan auto insurance quotes at our site is very easy,just enter your zip code and you will get he best quotes