CheapInsurance.com explores Michigan Car Insurance Requirements

Описание: Before you hit the road in Michigan, you need to be covered.

CheapInsurance.com breaks down the must-have requirements for car insurance in Michigan.

No-Fault System and PIP Coverage: Michigan’s unique no-fault system means your own insurer pays for your medical expenses and lost wages after an accident, regardless of who was at fault. This system was designed to reduce litigation but requires drivers to purchase Personal Injury Protection (PIP) coverage. Until a 2020 reform, this coverage was unlimited, leading to some of the highest insurance payouts and premiums in the nation.
High Rate of Uninsured Drivers: Around 20% of Michigan drivers are uninsured. This high rate forces insurers to raise premiums for insured drivers to cover the costs of accidents caused by those without coverage.
Legacy Costs: The high costs associated with the former unlimited PIP system and a high rate of insurance fraud have created a challenging market for insurers, which is reflected in the premiums they charge today.

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