Cheap car insurance is great, if you just need to be able to drive legally, but like anything else with a small price tag, it comes with risks. Of course, there are benefits to choosing a cheap auto insurance policy in the state of Michigan and this usually refers to the 20/40/10 minimum covers you need to drive legally in the state.
Cheap Car Insurance Benefits
When you choose the minimum coverage, you really only get a few benefits. First, you get insurance that makes it legal to drive in Michigan. This is obviously very important and will save you from the worry of getting a ticket or being arrested for driving without insurance. Second, you get insurance at a super low cost with a super low monthly payment. Finally, you get the benefit of some coverage in the event of an accident.
The Risks of Choosing Cheap Michigan Car Insurance
For some, the risks of cheap car insurance in Michigan will be too much to handle. If this is the case for you, choosing higher coverage limits might be a better option. Here are the many risks associated with minimum insurance coverage.
- Coverage limits will only protect you in minor accidents
- No comprehensive or collision coverage to protect you if you hit an animal or something other than another vehicle
- No coverage if involved in an accident with an underinsured or uninsured driver
- Potential of bankruptcy if you cause an accident with a major injury
- No car replacement coverage
- Potential of an insurer with slow or bad customer service
These are some of the largest risks, but there are many others that can become real in certain situations. Minimum car insurance in Michigan really doesn’t give you much coverage, but it is cheap.
Weighing the Cheap options and the Options with Better Protection
Cheap car insurance in Michigan has its place and sometimes this is all you can afford. If you’re struggling to put food on the table and make ends meet, minimum coverage will at least keep you from dealing with the financial issues and legal issues of getting caught driving without insurance. However, if you get into a major accident, you could find yourself filing for bankruptcy.
Better protection is necessary if you can afford it. Even bumping your coverage up from the 20/40/10 minimum coverage to 100/300/100 will help protect you. This still doesn’t include adding collision and comprehensive coverage, which matter, especially if you’re driving a newer vehicle or one with monthly payments.
The other thing you need to be careful with, when looking at insurance quotes from different companies is the service they provide. Saving $10 a month isn’t worth it if the company has a bad reputation. You want to make sure you get the right coverage, but also the right company. This will help to protect you if an accident does happen.
Using an Agent to Help with Your Insurance Needs
One of the best ways to make sense of the car insurance you need is through a good agent. With a trusted insurance agent on your side, you will always get the cheapest car insurance quote they can provide. This is a good thing because most agents don’t represent bad insurance companies. An agent can also answer your questions and help you figure out the best car insurance for your specific situation.
If you want to save time, get the cheapest car insurance in Michigan to fit your needs and put a professional on your side, you need to choose an agent for your insurance needs. This is a great way to compare multiple companies without doing it all yourself. Most agents will compare at least a handful of companies, if not more, to help you get cheap Michigan car insurance at the coverage level you prefer.