Grand Rapids one of the biggest cities in Michigan. Grand Rapids is also called the River City as the Grand River flows through the center of the city. The residents of Grand Rapids enjoy shopping, golfing, and spending time at the beach. Economically, Spectrum Health is one of the biggest industries and the largest employer in Grand Rapids with around 20,000 employees. A driver has to carry a minimum amount of car insurance in Grand Rapids MI. Michigan is a no-fault state and therefore, adding personal injury protection coverage is a requirement when you take car insurance in Grand Rapids MI. The below is a minimum liability limit that all car owners should have to drive in the streets and highways of Michigan:
- Liability coverage bodily injury required is $20,000 per person
- Liability coverage bodily injury required for per accident is $40,000
- Property damage required is $10,000 per accident
- Personal injury required – unlimited
Types of Coverage for Car Insurance in Grand Rapids MI
Liability coverage will pay for medical expenses as well as expenses of property damage. Personal injury protection will take care of your medical expenses, even if you were at-fault in the accident. Personal injury protection is unlimited in Michigan, which means it will take care of your medical bills regardless of the bill amount. This coverage will also take care of your lost wages for a period of around three years. Though unlimited personal injury protection can lead to expensive insurance cost, you can coordinate your Personal Injury Protection and health insurance and manage your premium amount.
Liability insurance will look after the expenses of your old vehicle. However, if you have a new vehicle or vehicle worth more than $2000, it is advisable to opt for collision coverage. Any damages to your car due to a collision will be covered by collision coverage. Comprehensive coverage excludes damages from a collision; however, it will take cover expenses from all other damages such as bad weather, theft, fire, or vandalism.
Uninsured or underinsured motorist insurance coverage is a coverage that will be beneficial in case of an accident with an uninsured or underinsured driver. Uninsured or underinsured drivers may not financially support or pay for damages caused in an accident. If you have an uninsured or underinsured motorist insurance coverage, it will cover the expenses.
Factors that Determine Auto Insurance in Grand Rapids Michigan
In Grand Rapids, areas with lesser population have lower insurance rates. This is because the highways will have lesser vehicles, and if vehicles are less, accidents will also be lesser. An area with a high population will have more vehicles in the streets. More vehicles can lead to more accidents, and more accidents will lead to more filing of claims. Hence, insurance cost in populated areas is higher than areas with less population.
An area with a crime rate will have expensive insurance rates. An area with a crime will have a high number of vehicle theft. The number of vehicle theft will lead to more filing of claims; this leads to higher insurance cost in that area. A location with less number of crimes or auto theft will have lower insurance cost. Even though insurance cost will be higher in an area with vehicle theft, it will be advisable to opt for comprehensive coverage to cover expenses if there are damages to your vehicle due to theft.
In Michigan, a credit score can influence your insurance cost. An excellent credit rating can get you a good discount on your insurance cost. However, a poor rating can cost you expensive auto insurance. It is advisable to improve your credit rating to reduce your premium cost.
Teenage drivers are considered inexperienced by insurance companies, and hence they are charged very high insurance charge. However, the financial burden can be lowered by looking for discounts such as Good Student oreducation courses for drivers.
A driving record has to be blemish-free to gain a cheaper insurance premium. A driver record with at-fault accident and violation of laws can cost a very high insurance premium. A married couple can bundle their policies to save money. Otherwise, there is no major difference in the premium amount by being married in Grand Rapids. Most of the other states, benefit by being married as they get discounted insurance rates. Make sure your check our list of best car insurance companies before taking auto insurance in Grand Rapids Michigan. Before buying insurance, do refer NAIC ratings to know which companies can be trusted. Compare rates with different insurance providers and then decide to insure in a company you can trust