Key Takeaways
In Michigan, your income doesn't affect your car insurance cost. Premiums are determined by factors like adding a teen driver, your driving history, and age. Financial status isn't a consideration in calculating car insurance rates in the state.
Income and credit score aren't considered when calculating car insurance rates in Michigan, contributing to more affordable insurance options in the state.
Low-income families in Michigan can find affordable car insurance through companies like USAA, and Nationwide, which offer budget-friendly options focusing on meeting state liability requirements.
| Company | Annual Rates |
|---|---|
| USAA | $2898 |
| State Farm | $11,720 |
| Allstate | $9699 |
| Progressive | $7630 |
| MetLife | $6545 |
| Travelers | $7998 |
| AAA | $9175 |
| Nationwide | $2650 |
| Auto-Owners Insurance Co | $4895 |
| Company | Annual Rates |
|---|---|
| USAA | $585 |
| Allstate | $2610 |
| MetLife | $1585 |
| Travelers | $1935 |
| AAA | $2218 |
| Nationwide | $3410 |
| Auto-Owners Insurance Co | $1185 |
| Hanover | $3780 |
Low-income individuals in Michigan can find budget-friendly car insurance through companies like USAA, Nationwide, and Auto Owners, with average premiums ranging from around $920 to $1,900 per year.
| Company | Annual Rates |
|---|---|
| USAA | $920 |
| Allstate | $3690 |
| MetLife | $2492 |
| Travelers | $3045 |
| AAA | $3495 |
| Nationwide | $1015 |
| Auto-Owners Insurance Co | $1865 |
| Hanover | $3780 |
| Progressive | $2220 |
| Company | Annual Rates |
|---|---|
| USAA | $2530 |
| Allstate | $10,170 |
| MetLife | $6865 |
| Travelers | $8387 |
| AAA | $9620 |
| Nationwide | $2780 |
| Auto-Owners Insurance Co | $5133 |
| Progressive | $6115 |
Young student drivers in Michigan often face higher car insurance rates due to their limited driving experience. While rates aren't determined by income, many students have lower incomes, making auto insurance a substantial part of their budget.
| Company | Annual Rates |
|---|---|
| USAA | $1950 |
| Allstate | $7830 |
| MetLife | $5285 |
| Travelers | $6460 |
| AAA | $7410 |
| Nationwide | $2140 |
| Auto-Owners Insurance Co | $3952 |
| Progressive | $4705 |
| Mercury | $6782 |
Seniors in Michigan typically pay slightly higher car insurance premiums compared to middle-aged drivers. Insurance companies may consider factors like reduced reaction times and increased accident risk associated with age, which can contribute to the slightly elevated premium rates for senior drivers.
| Company | Annual Rates |
|---|---|
| USAA | $1025 |
| Allstate | $3770 |
| MetLife | $2050 |
| Travelers | $2565 |
| AAA | $3865 |
| Nationwide | $1065 |
| Auto-Owners Insurance Co | $2290 |
| Progressive | $2415 |
| Mercury | $3505 |
In Michigan, car insurance rates are not directly influenced by income. Instead, various factors play a role in determining premiums.
| Factor | Impact on Car Insurance Rates |
|---|---|
| Income Level | Generally, income does not directly affect car insurance rates in Michigan. |
| Driving Record | A clean driving record can lead to lower rates, while violations and accidents may result in higher premiums. |
| Age | Younger drivers and seniors may pay higher rates due to perceived risk associated with their age. |
| Coverage Selection | The level of coverage chosen, such as liability-only or comprehensive, can impact rates. |
| Vehicle Type | The make and model of the vehicle can influence premiums. More expensive or high-performance cars may result in higher rates. |
| Credit Score | In some cases, credit score can affect rates, although Michigan's regulations limit this impact. |
| Marital Status | Married individuals often receive lower rates compared to single policyholders. |
| Location | Where you live can impact rates, with urban areas often having higher premiums than rural regions. |
While income isn't a direct factor, these elements play a crucial role in determining car insurance rates in Michigan.
Michigan lacks a government car insurance program to aid low-income families and individuals. Uninsured drivers make up 25.5% of the state's total due to high costs, despite legal mandates.
Low-income car insurance in Michigan is best approached with a traditional minimum coverage policy. For those driving infrequently, Michigan offers a cost-effective alternative through pay-per-mile insurance.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
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