MONDAY, SEPTEMBER 12, 2016
Today I want to talk to you about the high cost of auto insurance. How many times have you heard that Michigan has the most costly auto insurance in the nation? Or that we should reduce the unlimited PIP (personal injury protection) coverage to a capped amount? Well folks, I'm here to tell you DO NOT buy into that rhetoric! It's no secret that I currently live in South Carolina and work remotely for Devette & Ford, and I'm here to tell you that I know for a CERTAINTY that the auto insurance in Michigan is NOT the most costly! In fact, I actually pay MORE now in South Carolina that I did in Michigan, even though my other rating factors are the same. Additionally, I have talked to other people that have moved here from Michigan and they were shocked that their auto insurance here in South Carolina costs more, and gives you much less. "I thought my auto insurance would be lower!" is what I commonly hear!
South Carolina doesn't have "No Fault" insurance and people get sued for every little fender bender and every type of "fake" injury. There is no PIP coverage in South Carolina either, just Medical Payments, of which only $1,000 is included, and you must buy additional amounts if you want more. There is no unlimited medical coverage if you are injured in an auto accident like Michigan provides. Other states have higher costs too, actually, when I was still actively writing insurance from our cozy Glen Arbor office, I encountered several cases of people who had moved from New York or New Jersey and their insurance was less costly in Michigan, again with better coverage.
So what's the uptake here? What I want you to know is this: Yes, the insurance in Michigan may be higher than some other states, but it is by far not the most costly. AND the insurance in Michigan provides the ABSOLUTE BEST coverage if you are injured in an auto accident in the State of Michigan. Do not underestimate the value of that coverage! If you were permanently injured in an auto accident, whatever your medical costs were relating to that injury would be covered by your auto policy, for the REST OF YOUR LIFE!!! Michigan is the ONLY state that has coverage that is this comprehensive. Do not give that up! This is truly a wonderful benefit!
So, what can be done to lower your insurance costs? That will be the subject of my next blog! Until then I'm.....