March 22, 2011
One annual survey found the state’s auto insurances rates were the highest in the country, when considering an average 40-year-old man with a pristine driving history, the Detroit Free Press reports. Michigan’s rate climbed 21 percent from the data gathered during last year’s survey. On the opposite end, Vermont was found to be the cheapest place to obtain coverage.
In another study, conducted by the National Association of Insurance Commissioners, Michigan fell just out of the top 10, ranking as the 11th most expensive state to get auto insurance. Both studies said the state’s requirement for drivers to carry unlimited coverage for personal injuries was one of the main factors contributing to the high policy costs, the report said. Michigan drivers may want to follow the lead of a number of other car owners in the country who have begun searching for insurance rates on the Internet. In many cases, individuals who buy auto insurance online may be able to save on their monthly bills.