Michigan motorists ought to be well acquainted with their state’s auto insurance laws. Drivers are required to possess a valid auto insurance policy with a minimum requirement of $25,000 as bodily injury liability, $40,000 for bodily injuries for every accident, and $10,000 as property damage liability. While these are required to legally drive within the state, most insurance companies advise their customers to opt for better coverage. The state follows the ‘no-fault’ policy where motorists can claim insurance no matter who was at fault in an accident.
Thanks to the internet, it is easy to obtain Michigan auto insurance quotes from various licensed insurance companies that operate in the state. These quotes can be obtained free in a matter of minutes. In addition, it is also advisable to use comparison websites to shop for auto insurance quotes online. This will enable you to compare quotes as well as the extent of coverage so that you choose a policy with the best possible coverage at an affordable price. Moreover, it saves plenty of time and money, not to forget the convenience of shopping from the comfort of your own home. It doesn’t matter whether you are in Detroit or Grand Rapids, you can purchase a policy almost in an instant.
The key is to take advantage of the competition amongst providers
Most insurance companies offer various discounts for online purchases. In addition, many incentives like buy now pay later auto insurance policies, are common to most providers. They are most likely to lower premiums if you have an impeccable driving history, installed safety devices such as anti-theft locks, passenger airbags, and clock less mileage on a monthly basis. The less you drive the more likely you are considered ‘low risk’ by the insurance provider.
Many motorists make the mistake of signing up for the first quote they receive. In most cases, this results in unnecessary expenses on monthly premiums. It is essential to compare quotes from at least three or four providers in order to make an informed decision. Since the cost of premiums is a major factor, the only way to get the best rate is by comparing quotes. However, you ought to pay equal attention to the extent of cover each insurance provider has to offer.
In a state like Michigan, you can ill afford to pay for medical and legal expenses from your own pocket if you don’t have adequate cover. If you are involved in an accident and a judgment is passed against you for a sum more than the minimum requirement, you could end up with severe financial losses that are difficult for anyone to bear. Therefore, it is advisable to consult your advisor and determine the exact amount of cover you require prior to searching for cheap direct auto insurance quotes online.
Choosing a reputed auto insurance provider is also vital. A credible company must extend the maximum support and have a good record in settling claims. It is no use having to wait months if not years for your claim to be approved. With a few precautions, you can make sure you have adequate protection at the best possible price.
Benefits Of an Auto Insurance Policy
Auto insurance is a risk management tool that helps you reduce the risk of automobile ownership. Having insurance covers you in unpleasant situations like accidents, theft, repairs, medical costs, legal liabilities etc. that you might incur during incise of exigency situations involving your vehicle. Therefore, an annual expenditure of a few hundred dollars can save you thousands of dollars of potential liability as well as legal trouble!
The benefits of being adequately covered under an auto insurance policy are many. Read on to know some basic reasons as to why you need to purchase an auto insurance policy:
Legal Benefits: In most states of America, it is mandatory to insure your vehicle. Although different jurisdictions have different mandatory conditions for auto insurance, most states require every vehicle owner to carry 3rd party liability insurance, coverage for medical bills and payments, and insurance coverage for uninsured motorists. Therefore, purchasing a 3rd party liability auto insurance will ensure that you are on right side of the law
Medical Payments: This is one of the most important aspects of auto insurance policy coverage. If the driver of the insured vehicle is involved in an accident, the auto insurance policy will pay for the medical bills incurred by the driver or his passengers. In case of the death of the driver, the coverage in the policy will assist in payment of funeral expenses. In most insurance policies it is the vehicle that is covered. Hence even if you are not driving the car during when the accident occurred, you would be able to claim for all the above-mentioned costs.
Collision Coverage: if your car is involved in an accident, it may cost you thousands of dollars for repairs. An auto insurance policy will help you pay for these repairs. For cases in which a car is totaled, the insurance providers usually pay a lump sum amount that has been decided during the signing of the policy.
Property Damage: Many states also mandate that if a vehicle has been involved in an accident which has damages 3rd party property, the repair costs and compensation needs to be paid by the vehicle owner who is at fault. In such events a trader auto insurance coverage will pay for compensation and 3rd party property damage costs which may run up to thousands of dollars.
It is important for all vehicle owners to understand that there are several exclusions to an auto insurance policy. These exclusions include certain conditions in which the driver is found to be involved in illegal activities while driving or the vehicle has been intentionally modified or tampered with by the owner or the driver. Some examples of these exclusions are cases in which the driver was found to be driving under the influence of drugs or alcohol and if there have been some modifications made to the car post the purchase of the insurance policy that affects the optimal performance of the car. In case the insurance company inspector finds deliberate sabotage of the vehicle by the owner or driver that caused the accident then he might be sued for insurance fraud.
