With the cost of insurance rising in Michigan and across the nation, it’s important to find the best car insurance that not only offers the premiums you can afford but also the coverage that fits your needs.
Nobody wants to pay more than necessary, and you shouldn’t. Others think if they pay the highest price, they get the best coverage. That is unfortunately not the case in many circumstances. Just remember that cheap auto insurance and the most expensive car insurance aren’t the same as the best.
At Compass Insurance Agency Lansing, we always aim for you to pay less for auto insurance. However, the definition of best car insurance also encompasses other factors such as coverage options and dollar limits, deductible levels, and customer service. Also worth noting are reviews of the car insurance company as well as its financial strength. A well-established auto insurance company is more like a best insurance company than a relative newcomer.
The best car insurance policy is different for someone who has had an accident (or two!) than someone who has a clean driving record. Or someone who is driving an old car compared to someone who has just bought a brand-new car. And whether that new car is an SUV, a high-end luxury car, or a two-seater sportster.
It’s always a good idea to get multiple quotes. Just make sure that the quotes you get are for the same coverage you want. And even if you get a lower quote for the same coverage, also take into consideration the insurance company’s reputation for customer service and paying claims on time.
Which Car Insurance Is The Best For Me?
To find the best car insurance policy for you and the company to back it, do your research. Compare different policies from different providers to find the one that provides the best coverage and rates for your vehicle without sacrificing customer service.
If that seems like a daunting task, your Lansing Compass Insurance independent broker can help you narrow down your best options. This is the only way to truly know which car insurance is best for you.
If you want to do all the shopping around yourself and you live near Lansing, Michigan, then you may want to start with:
Together, this is what you need to look at.
How Much Coverage Do I Need In Lansing, MI?
Michigan has a no-fault insurance program that requires you to buy certain basic liability coverage in order to register a car. This includes liability coverage if you cause an accident in which someone else is injured or killed for up to:
- $20,000 for a person who is hurt or killed in an accident.
- $40,000 for each accident if several people are hurt or killed.
- $10,000 for property damage in another state.
This is usually expressed as 20/40/10 liability coverage. You may want more than that. The exceptions are if you can’t afford to pay out of pocket if liability exceeds these minimum limits and you own few or no assets; in this kind of situation, lawsuits to recover further damages aren’t worth the effort. Otherwise, the minimum recommendation for liability coverage is 100/300/50, meaning up to:
- $100,000 coverage of bodily injury per person
- $300,000 coverage of bodily injury per accident
- $50,000 liability coverage to property damage (usually the other vehicle involved in the accident) per accident.
You are still responsible for anything that exceeds these limits, so for additional peace of mind, you may want to buy coverage even more than 100/300/50 to protect personal assets you could lose if you are sued as the result of a car accident.
Another type of auto insurance coverage is collision and comprehensive, which are usually grouped together. Collision covers any accident involving your car, whether you are driving or someone else is, that causes or is the result of hitting something other than another car, such as a wall or barrier. Comprehensive provides the actual cash value of your vehicle if it is stolen, vandalized, or suffers any other damages other than collision with another car.
If you have a car lease or loan, you are required to carry both collision and comprehensive car insurance.
Also, Michigan’s no-fault insurance mandates $250,000 in PIP (Personal Injury Protection). PIP covers any medical expenses for you and your passengers suffered in a car accident, regardless of whether you or the other driver is at fault.
There are additional coverages to consider, such as towing insurance, rental reimbursement, or windshield protection. Adding these coverages can provide extra peace of mind, but just because you can get extra coverage doesn’t always mean you really need it. For example, if you own an older car with a lot of mileage and you don’t pay for an AAA membership that covers roadside service, you might want to consider adding towing insurance. And if that old car isn’t really worth much to sell it, you might want to drop comprehensive coverage and save some money on your premium.
High Deductible Or High Premium, What’s Better?
The higher your deductible, the lower your premium. That’s because there is less risk to the insurance company if you have an accident because you are paying more out-of-pocket. If you don’t have the funds to pay a high deductible and your car is relatively new, a low deductible is probably a better choice, even if it does raise your premium.
Even the best car insurance policy doesn’t pay for everything. So be sure what your auto insurance actually pays out in the event of a claim. The best auto insurance policy for you may require coverage that means a higher premium but better protects you against financial loss.
What’s The Car Insurer’s Reputation?
Look online for customer reviews and independent evaluations of different companies to help determine the best car insurance company for your needs. For example, U.S. News & World Report includes Nationwide, Progressive, and Travelers in its top ten list, as does Forbes Advisor, which also mentions Westfield.
Talk to your Compass agent for more information. We only work with some of the best auto insurance companies and will compare 20 carriers for you to find the best policy you can afford.
Plus, we can save clients on average $796 a year on their car insurance without sacrificing coverage or customer service.