Car insurance to buy a home Types of car insurance Michigan's no-fault law requires drivers to have no-fault insurance. Below is a list of the four types of auto insurance coverage that are required by law. Here's more information about car insurance requirements in Michigan. Michigan Auto Law is the leading and largest law firm in Michigan that has been dealing exclusively with car accident cases for more than 50 years.
By answering a few simple questions, we can help you determine how much your accident case could be worth. DETROIT615 Griswold St, Suite 402 Detroit, MI 48226 GRAND RAPIDS212 Cesar E Chavez Ave SWSuite 105Grand Rapids, MI 49503 ANN ARBOR 122 S. Main Street, Suite 220 Ann Arbor, MI 48104. Collision insurance covers the cost of repairing or replacing your own car in the event of an accident, regardless of who was at fault. It's usually purchased with comprehensive insurance, which covers repair or replacement costs if the car is damaged by something other than an accident, such as theft, vandalism, or animals.
When you finance a car, lenders often require collision and comprehensive coverage, in addition to the insurance you must have under Michigan law. The consequences of driving without insurance exceed the monthly insurance premium and may result in the following penalties. If you can't drive your car because of a covered loss, this coverage helps pay for a car rental or other transportation expenses so you can get back on the road. If you have a car accident, no-fault insurance will reimburse you for medical or hospital expenses, wage losses due to incapacity to work, and, if necessary, funeral expenses.
Michigan has some of the most expensive car insurance premiums in the country, as well as high rates of fraud. You should cancel your car's full coverage insurance when the cost of the insurance is equal to or greater than the potential payment, in the event of a covered event. There are also other types of car insurance coverage in Michigan that are optional and that you can take out to protect yourself in a variety of circumstances. Not having car insurance in many states can make you a high-risk driver when buying car insurance.
In some states, your vehicle can be towed and you won't be able to claim it until you present proof of insurance. The terms, definitions and explanations of insurance are for informational purposes only and do not replace or modify in any way the definitions and information contained in the individual pages of contracts, policies or insurance statements, which are decisive. For example, it might not be worth doing expensive repairs to an old car with high mileage, and you might want to save up to buy a new car instead of paying for additional insurance. Some car insurance qualifying factors, such as your driving history, can significantly affect your insurance costs.
Michigan's insurance reform also reduced the Michigan Catastrophic Claims Association (MCCA) fee, which drivers must pay if they purchase unlimited PIP insurance.