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Michigan Car Insurance Discounts

Michigan is a beautiful stabte. Located on the banks of the Great Lakes, it is steeped in rich history and gorgeous landscapes. It is the only state in the United States that consists of two peninsulas, and it is often referred to fondly as "the mitten" by its residents due to its shape. With 64,980 lakes, it is a popular tourist destinations for travelers who wish to take in the Great Lakes and the surrounding habit. Despite its natural attractions, car insurance remains an expensive commodity in this state.

The average purchase price for a policy in 2009 was $2,229 . By comparison, the national average rate is $1,794. The month of August showed the highest increase in car insurance premiums for the year with prices peaking at $2,554 per policy. This sort of fluctuation highlights how unstable the prices in the vehicle insurance market can be. Therefore, educating yourself about the discounts available to you will help you combat rising premiums.

In order to operate a vehicle legally in Michigan, you must maintain liability insurance. A motorist is also required to have personal injury protection insurance and property protection insurance. Uninsured or underinsured motorist protection insurance is not required by law, but it is highly encouraged by the Michigan Department of Insurance that motorists purchase it. With the aforementioned average purchase prices for a policy and the necessary forms of insurance required, you may be seeing dollar signs adding up quickly in your head. However, in today's economy, the car insurance industry has become more competitive than ever. As each company strives to ensure your business, they are extending more discounts to consumers and motorists in the hopes of enticing your business. This can be an advantage to a motorist who is seeking to save money. Here are some discounts that may be available to you:

Were you aware that you could save money on your car insurance by combining all of your vehicles onto one policy? This is called the multi-car discount. In order to qualify, you insure all of the vehicles in your name onto one policy, and all of the drivers of said vehicles must live in the same household.

How many safety features does your car have? Of course, the safety of you and your family should be your number one priority when you are seeking to purchase a new vehicle. However, were you aware that those same features can save you money? Two examples of common safety features are anti-lock brakes and airbags. Generally, these must be factory installed. As new cars with numerous new safety features are being produced yearly, you should consult your automobile insurance agent for a list of what safety features your insurance company accepts.

Whenever you add an anti theft device to help protect your vehicle, it will provide you with more than one benefit. While protecting your car, you will be entitled to an anti theft device discount. A tracking system, such as Lojack, can also be instrumental in lowering your car insurance premiums. Whether you are renewing your policy or receiving a quote on car insurance, one of the first pieces of information an insurance provider is going to ask of you will be your zip code. From your zip code, an insurance company is able to acquire the crime statistics for your neighborhood and community. The likelihood that you will be victimized by a crime plays a factor when your premiums are being determined. Therefore, installing an anti theft device may be a wise decision, especially in poor areas.

With the recent upsurge in gasoline prices, hybrid and alternative fuel vehicles are becoming an increasingly popular option for motorists. Because they reduce gas emissions, they are kinder to the environment than traditional vehicles. Due to these facts, insurance companies have devised a discount to extend to drivers who own hybrid vehicles. It is a relatively new discount so you may want to check with your insurance companies for the particulars guarding it. In addition to saving money on gasoline, why not save money on your car insurance premiums as well?

A bundling discount works in a method similar to that of the multi car discount. Rather than consolidating your vehicles onto one policy, you are consolidating all of your insurance needs with one company. The various definitions of what bundling comprises of vary among insurance companies. However, it is generally a combination of any of the following: your car insurance, your health insurance, your life insurance, or your homeowner's or renter's insurance. Consolidation can not only save you money, but it can make your life easier as well.

Arguably, the most important factor that influences what you will pay in car insurance premiums is your driver's license record or your driving history. A record of moving violations or an accumulation of tickets is going to lead an insurance company to surmise that you engage in risky behaviors while driving. Risky behaviors lead to an increased risk of being involved in a collision. Thus your rates rise. In order to qualify for this discount, you must have maintained a clean driving record for three to five years according to your insurance company's particulars. There are many insurance providers who will increase the discount each year if you survive the year without any violations or accidents. There are insurance companies who will also offer accident forgiveness programs. Such a program will not allow an accident to count against you if you are not at fault in the collision.

If your child maintains exemplary grades in high school, he or she may qualify for a good student discount. In order to qualify, the individual in question must be under the age of twenty four and be enrolled in school. It does not matter if it is high school or college, but the student must maintain at least a B average. This discount can also apply to homeschoolers. You should inquire with your insurance agent as to what the particulars are.

Similar to the good student discount, an adult motorist can receive a discount on their insurance premiums by successfully completing a DMV approved defensive driving course. Even if you have been driving for an extended period of time, brushing up on your knowledge can be beneficial. In addition, Michigan will allow a motorist to reduce one point of their driver's license record by engaging in the class.

As you can see, there are multiple discounts available to consumers. Investing a little time into research and education can benefit you financially. If you are not pleased with the offerings of you current car insurance company, do not hesitate to engage price comparison techniques to see what else is available to you. With the number of insurance companies who operate in Michigan, the chances are quite high that you will be able to find an insurance company who will offer you enough discounts to achieve your desired rate. With the weight and pressure of car insurance off of your mind and shoulders, you will be better able to enjoy the multitude of offerings that Michigan provides to its residents.

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