Traverse City, Michigan Car Insurance
All of the Insurance companies we represent provide a wide range of auto Insurance products at a fair price. Your price gets even better if you qualify for any of our available discounts. When applying for auto Insurance in Traverse City, Michigan, you're usually asked whether you want collision and/or comprehensive coverage, how high you want your deductible to be, what liability limits you want, and whether you want any types of optional coverage. We can help you understand what these terms mean and how much coverage is right for you.
Auto Insurance Coverage options in Traverse City, Michigan:
Collision and comprehensive (other than collision) coverages
Collision and Comprehensive (other than collision) coverages pay for damage to your automobile. You can purchase either or both of these coverages for each vehicle you own. If you have an auto loan you may be required to purchase both.
- Collision coverage insures you against damage to your vehicle caused during an accident.
- Comprehensive (other than collision) coverage insures you against all other physical damage to your car caused by such events as fire, theft, flood, and vandalism.
Collision and comprehensive (other than collision) coverage usually includes a deductible, which can range from $100 to $1,000. If your car is damaged, the Insurance company pays only for the damage in excess of the deductible you selected. The higher the deductible, the lower the premium.
Liability coverage pays for injuries you cause to other people and damage you cause to other people's property when you are at fault in an automobile accident.
Medical Payments coverage
Medical Payments coverage pays medical expenses (up to a specified dollar limit) for you and passengers of your car who are injured in an automobile accident, no matter who is at fault. If you and your passengers have health Insurance, you may not need this coverage.
Personal Injury Protection
Some states require Personal Injury Protection, which is also known as No-Fault coverage. This coverage pays for things like medical and rehabilitative expenses, replacement services, and funeral expenses. It also pays for loss of income if you are injured in an auto accident and are unable to work.
Michigan - Personal Injury Protection (PIP) Choice
Michigan drivers will need to choose a coverage level appropriate for their needs and budget.
The new law requires that auto insurance companies and agents give policyholders forms that describe the benefits and risks of the coverage options. Drivers may also want to talk with an auto insurance agent, insurance company, or financial advisor to discuss their personal auto insurance needs.
Drivers will need information from their health insurer or employer identifying individuals covered under their health insurance and a statement that the health policy does not exclude or limit auto accident injuries and has an individual deductible of less than $6,000. Medicare and Medicaid participants may need proof of enrollment.
Michigan - PIP Medical Coverage Options
There are six PIP medical coverage levels available to Michigan drivers. Under these limits, this amount is the most a driver’s auto insurance company will pay per person per accident for an injured person’s expenses under PIP medical coverage.
Up to $500,000 in coverage
Up to $250,000 in coverage
Up to $250,000 in coverage with PIP medical exclusion(s)
Exclusion is available for a named insured with non-Medicare health coverage that covers auto accident injuries and/or for household members if they have health insurance that will cover auto accident injuries.
Up to $50,000 in coverage
Available if the named insured is enrolled in Medicaid and their household members have another auto insurance policy, Medicaid or other health insurance that will cover auto accident injuries.
PIP medical opt-out
Available if the named insured has Medicare (Parts A and B). Any of their household members must have another auto insurance policy or health insurance that will cover auto accident injuries.
If a PIP medical option is not chosen by the insured, the unlimited PIP medical option is selected by default.
Michigan - Premium Reductions
Under Michigan’s new auto insurance law, each auto insurance company will be required to reduce statewide average PIP medical premiums for eight years. Drivers’ premiums will depend on their individual circumstances and the coverage they select. If drivers choose to opt-out of PIP medical, the entire PIP medical portion of their premium will be eliminated but excluded members will have no PIP medical coverage under the policy.
For policies issued or renewed after July 1, 2020, insurance companies are subject to the following overall statewide PIP coverage premium reductions:
- An average 45% or greater reduction per vehicle for the $50,000 PIP option
- An average 35% or greater reduction per vehicle for the $250,000 PIP option
- An average 20% or greater reduction per vehicle for the $500,000 PIP option
- An average 10% or greater reduction per vehicle for the unlimited PIP option
Uninsured/Underinsured Motorist coverage
This coverage pays if you are injured by a person who is completely uninsured or doesn't have enough liability Insurance to cover your injuries. It also covers you if you are in an accident with a hit-and-run driver.
Optional or special coverage includes extras such as towing, rental reimbursement, and roadside assistance. None of these coverages are required.
How much do I need?
Choosing the appropriate level of auto Insurance coverage depends on a number of factors, including assets you must protect (liability coverage), the value of your vehicle (collision and comprehensive), the amount of money you can afford to pay out-of-pocket (deductibles), and your tolerance for risk.
Here are some additional lines of insurance that we service:
- Antique Cars
Our professional auto insurance agents in Traverse City Michigan, including the Acme, Interlochen, Kalkaska, Kingsley, and Williamsburg areas, can assist you in finding the right car insurance you need.