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Old 03-19-2013, 09:35 AM
 
Location: NW Michigan
265 posts, read 801,498 times
Reputation: 412

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The most and least expensive states for car insurance in 2013 | Insure.com

The article shows average annual premium for car insurance in Michigan is $2,520. Where do these numbers come from? I have had used cars with collision and comprehensive for about $1000 a year. I also had a new crossover with MSRP of $40K last year and full insurance was about $1,400 a year. My current 8-year old Saab had just the basic insurance and I am only paying around $400 a year. That includes the $175 mandatory charge.

Who is actually paying $2,520 a year? If it is an average, many must even pay more?
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Old 03-19-2013, 09:53 AM
 
Location: Grand Rapids, Michigan
2,259 posts, read 4,752,886 times
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I'm paying about that, but that is two cars, with the basic insurance, one car with full coverage, and renters insurance
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Old 03-19-2013, 10:29 AM
 
Location: Michigan
4,647 posts, read 8,599,691 times
Reputation: 3776
Young people (and/or their parents). Specifically those under 25.
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Old 03-19-2013, 10:34 AM
 
Location: Grand Rapids Metro
8,882 posts, read 19,852,535 times
Reputation: 3920
Quote:
Originally Posted by Wulf67 View Post
The most and least expensive states for car insurance in 2013 | Insure.com

The article shows average annual premium for car insurance in Michigan is $2,520. Where do these numbers come from? I have had used cars with collision and comprehensive for about $1000 a year. I also had a new crossover with MSRP of $40K last year and full insurance was about $1,400 a year. My current 8-year old Saab had just the basic insurance and I am only paying around $400 a year. That includes the $175 mandatory charge.

Who is actually paying $2,520 a year? If it is an average, many must even pay more?
Question #1, who the hell is Insure and what makes them a credible source? I can create a website on godaddy and call myself the #1 source for insurance.
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Old 03-19-2013, 10:40 AM
 
Location: Grosse Ile Michigan
30,708 posts, read 79,802,285 times
Reputation: 39453
We pay about $8,000 per year, but that is for 6 or 7 cars, one or two have full coverage and we have five drivers (and one permit driver) four under 25.

It annoys me because when I moved from Michigan to California in 1988 my car insurance went up 1000% (10x). I was told that was because Michigan is a no fault state and in California you have to pay for all the lawyers. When we moved back to Michigan in 2005 I expected my insurance to go down. It doubled. I was told that was because Michigan is a no fault state and no fault costs more.

Later I learned part of it is because there is a mandatory long term disability or something tacked on because the insurance companies got voters to approve it not knowing what it was. It is extremely profitable tot he insurance companies because it rarely applies, so they get to take money from every driver, invest it and pay out only very rarely.
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Old 03-19-2013, 11:06 AM
 
Location: S-E Michigan
4,278 posts, read 5,936,083 times
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About $1600 per year.

This policy covers two Saabs with high limit full coverage on both, two adult drivers with clean records.
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Old 03-19-2013, 11:17 AM
 
Location: On the brink of WWIII
21,088 posts, read 29,219,613 times
Reputation: 7812
Under $1000 for two cars PL/PD. We were quoted $250 a month full coverage for a new ESCORT...yikes...needless to say we opted not to go with a new car. Guess that is what happens when Lansing allows your credit score to be used in the insurance equation?
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Old 03-20-2013, 06:03 AM
 
Location: SE Michigan
6,191 posts, read 18,159,672 times
Reputation: 10355
Those figures were for 2013 model year cars, and:

Quote:
Rates are based on insurance for a single, 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. The hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage.
When I moved to Michigan from Colorado 12 years ago, my auto insurance almost tripled.
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Old 03-20-2013, 06:14 AM
 
Location: West Michigan
12,083 posts, read 38,853,217 times
Reputation: 17006
What I pay in insurance in MI is less than what I paid in Maine for the same drivers, same driving record, same vehicles. Still less now (with newer vehicles) than it was back in 2004 in Maine, so I 'm not complaining at all. For us we pay about 1/2 the $2520 they say is average in the article and that is for 2 drivers, and 2 vehicles.
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Old 03-20-2013, 06:43 AM
 
7,357 posts, read 11,760,432 times
Reputation: 8944
I've heard this statistic from a number of sources, not just this one. I'm told MI costs so much partly because of the high auto-theft rate in the state (and since insurance companies don't pay you a dime when your car gets stolen, that's a little odd as a justification for the high rates) and partly because the settlements in this state to cover numberless injured motorists without health insurance are brutally high.
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