A minimum amount of auto insurance is required in every state in the U.S. Each state has different requirements, but if you do your homework you can still save a lot of money.This makes it very important for you to find out what the requirements are in your state. If you drive a car in Michigan you will need to know exactly what these requirements are in order to have the right coverage and still pay the least amount for your auto insurance.Some of the minimum requirements in Michigan for example are $10,000 coverage for property damage, $20,000 for bodily injury to a person and at least $40,000 coverage for everyone that may be injured in an accident where you are at fault. Keep in mind that these minimums are subject to change so check with local insurance companies for updates.Keep in mind that these are minimums and it may be a good idea to have more coverage than the minimums so that you minimize your financial risk.If your main goal is to get the lowest possible rates for your car insurance than here are some tips to help you do that.First of all, if you just want the absolute lowest rates, then don’t purchase more coverage than the minimums that Michigan requires. This will keep your costs low for sure. But remember that your financial risk may be higher in the event of an accident.The reason is that if you are involved in a serious accident that creates a lot of damage, you may regret not having more coverage. The minimum coverage may not be enough to cover the cost of personal injury and property damage that is created.Purchasing multi-line policies can also help you get cheaper car insurance from the company you use. By this I mean that if you get your car insured by the same company that you get other insurance from, like homeowner’s, life insurance, etc., you may qualify for five percent or more discount for using the same company for all of your insurance needs.Also, if you have more than one car insured by the same company they probably offer a multi-car discount that will reduce your insurance rates even more. If you have at least three cars to insure, you can probably save a substantial amount on your car insurance and make it possible for you to get more coverage for less.Every insurance company will also base the rates you pay on your driving record. Traffic tickets and accidents will cause them to charge you more for insurance because you are considered a higher risk to them so they will want more money from you to help offset the risk.A safe driving record is one of the very best ways to maintain low cost insurance rates. If you avoid accidents and traffic violations you are considered a much lower risk to insurance companies. This lower risk is reflected in lower insurance rates for you.Finally, if you are shopping online for insurance(which is the best way to find the cheapest rates by the way), make sure the insurance company you get a quote from is approved for practicing business in the state of Michigan.
There is no doubt that being a student is more expensive now than ever before, and auto insurance premiums for students are, more often than not, outrageously expensive. There are, however, a number of things you can do in order to make sure that you keep your premiums down-even as a student.For anyone under the age of 25-whether a student or not-auto insurance is often incredibly expensive-and this is especially true for male drivers. On top of these things, an awful lot of college students are at campuses in either college towns or urban areas-with both types of location meaning higher insurance premiums for prospective drivers. So, taking these factors into consideration, just what steps can a student take in order to obtain cheaper car insurance premiums.Well, in the real-world overview, you will, to some extent, need to accept the insurmountable fact that, until you reach the age of 25, auto insurance will cost you more than you would like it to. The first practical step you can take, however, is to make sure that you get decent grades at college. Any insurance company will deduce that a student that gets decent grades is likely to be responsible-and will therefore be a responsible driver. Most discounts will exist for those students that are in the top 20% of their class, and /or have a GPA of 3.0, a B or higher grade average and/or were a Dean’s List or Honor Roll student for the last semester.Next, it is a fact that good drivers will always pay lower premiums, so make sure that you don’t get into accidents and avoid tickets. Over time, your risk to insurance companies will decline and so will your premiums. You might also take advantage of low mileage discounts, as many insurance companies will set lower rates the students that live nearer to campus. If you live further away, you might lower your premium by car-pooling.Also, you should ensure that you have a decent credit history, as your credit rating will impact upon your insurance premium. As a student, you won’t have a long credit history, so make sure that the history you do have is solid. Be sure to pay all credit card bills on time. Also, you might consider taking a defensive driving class or a community driving class, as insurance companies usually offer discounted rates to those drivers that have a certificated safety class behind them – and if your current ones does not you can easily search online for one that does.. Ensure that the class you take is certificated, as the insurance company will want proof. Finally, consider your choice of car carefully-a sports car is going to coast you a bomb to insure. You might also consider doing without a car altogether, as this is the main way to save money on auto insurance as a student!