Tag: Michigan auto insurance

Michigan’s auto insurance rates are the most expensive in the United States

Nordstrom
Auto insurance rates high - Michigan

The state has returned to the top spot for having coverage more costly than any other in the country. Michigan has now retaken its title as having the most expensive auto insurance rates in the United States, after having lost that top spot for a while due to the initial impact of the change in certain regulations. The average driver in the state pays about $196 per month for coverage. This represents about three times the national average auto insurance rates. While the state is home to much of the…

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Catastrophic claims fees to take effect in Michigan auto insurance rates

Logan B.
Michigan Auto insurance - Umbrella Car

Drivers across the state will need to start paying the additional fees starting with July premiums. Michigan drivers are going to be paying more for their auto insurance starting in July, when higher catastrophic claims fees go into effect. This is the case even for motorists who have opted out of catastrophic no-fault coverage. Last year, the Michigan Catastrophic Claims Association (MCCA) decided to increase its annual per-vehicle assessments on all auto insurance policies in the state. The fee hikes resulting from that decision will become effective as of July…

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Auto insurance rates have risen 17 percent since 2020

G. Turner
Auto insurance Rates - 17 Percent

American drivers are paying considerably more now for their coverage than a couple of years ago. Drivers across the United States are paying around 17 percent more for their auto insurance than they were paying in 2020, according to the results of a new Insurify study. This year, the average annual premiums for passenger vehicles across the country is $1,750. Michigan was identified as the state where drivers are paying the most for their auto insurance, at an average annual $2,510. The difference between that and what drivers are paying…

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Michigan auto insurance refund deadline is today

Marc
Auto insurance refund - Refunds keyboard

Insurers are required to issue their $400 checks to applicable policyholders no later than today. The auto insurance refund deadline insurers have to issue the $400 refund checks to their customers has arrived. Michigan Governor Gretchen Whitmer announced last week that $2.2 billion had yet to be issued. During the second half of April, about 1.2 billion in auto insurance refund checks had been issued, according to Michigan Department of Insurance and Financial Services data. Around $3 billion is intended for redistribution to drivers in the state who had active…

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This state now has the most expensive car insurance (no, it’s not Michigan)

Marc
Most expensive car insurance - United States Map

A new report has revealed that Michigan has broken its 7-year streak at the top of the high-priced list. Michigan has long been the state in which the drivers have had to face the most expensive car insurance premiums. However, according to the results of a new data analysis published in a report by insure.com, that state has now slipped into second place and a new one has taken the costly lead. As Michigan has stepped down into second place, Louisiana drivers now find themselves paying the most. Louisiana drivers…

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New Michigan auto insurance law to become effective next month

Marc
Michigan auto insurance law - Michigan license plate

The new regulations meant to lower prices for drivers in the state will become effective July 1. On Tuesday, June 23, 2020, the state Department of Insurance and Financial Services held a meeting to answer questions about the new Michigan auto insurance law. The meeting was meant to answer questions and provide more information about the regulations. The new Michigan auto insurance law was developed in the hopes of reducing the cost of the coverage. At the same time, it is meant to help keep up the highest options available…

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Michigan auto insurance to undergo substantial changes throughout 2020

Marc
Michigan auto insurance - Michigan license plate

High rates have been a source of contention in the state where drivers pay more than the rest of the country. High Michigan auto insurance rates and how to overcome them has been a controversial topic in the state for decades. In the second half of the year, premiums are likely to fall due to a number of changes in the state. This year, when policies renew on and after July 1, vehicle owners will see a change in those rates they’ve been complaining about for many years. According to…

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