Business & Tech
Michigan Has Highest Auto Rates in the Country: ICYMI
Michigan residents pay the highest automobile rates in the country – and if you're a Wayne County resident, it's even worse.
A new report confirms what many Michigan automobile owners already knew about insurance rates in the state. (Photo via Creative Commons)
Michigan is No. 1, but not in a way that makes residents of the state very happy.
Find out what's happening in Hartlandwith free, real-time updates from Patch.
A new report from insuranceQuotes.com shows Michigan has the most expensive automobile insurance in the country with rates that are 136 percent higher than the national average of $815 annually.
How bad is it? That depends on where in the Mitten a person lives. If it’s Wayne County, be prepared to shell out $2,789 a year – which is 45 percent higher than the statewide average of $1,923.
Find out what's happening in Hartlandwith free, real-time updates from Patch.
The state’s unqiue no-fault automobile insurance law, which sets lifetime personal injury protection for persons incurring medical costs of $545,000 or more for treatment of accident-related injuries, is one of the reasons for the high rates.
Related:
That could change under bills that would overhaul the no-fault insurance system being fast-tracked through the Michigan Legislature. Lifetime benefits would be continued, but a caps would be placed on how much they could receive. Final passage could occur this week.
Other states with high automobile insurance rates are New York, Delaware and Louisiana.
Tell Us:
- Do you support overhauls to the state’s one-of-a-kind no-fault automobile insurance law? Tell us what you think in the comments.
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