Hancock Car Insurance

Your Complete Guide to Hancock, MI Car Insurance

Whether you are cruising through town or on a scenic stretch along Lake Superior, driving in Hancock can be difficult, especially in winter. Heavy lake-effect snow can make winter driving treacherous in Hancock. And even on bright, sunny days, accidents can and do happen. A car insurance policy helps you recover financially after an accident. It pays to repair or replace damaged vehicles. And if you’re at fault, it can help you reimburse other drivers for any vehicle damage or injuries that you caused. Our Independent insurance agents make shopping for the right car insurance policy easy. Independent agents can work with multiple insurance companies, so you can compare quotes and make sure you are getting the high-quality, best-value coverage you desire. 

Michigan Car Insurance Requirements

Michigan requires every driver to have a minimum amount of auto insurance. Drivers without the required coverage face stiff fines. In order to comply with Michigan law, drivers must have the following coverage, at a minimum: 

  • Bodily injury liability: Required
  • Property damage liability: Required
  • Personal injury protection (PIP): Required
  • Uninsured motorist coverage: Not required
  • Minimum liability limits: 20/40/10; coverage up to $20,000 for all persons injured in an accident, subject to a limit of $40,000 for one individual; and $10,000 coverage for property damage

Talk to an agent about the importance of purchasing more than the minimum liability insurance required by the state. The minimum coverage may be sufficient to cover damage from minor accidents. But if you cause a serious accident, the minimum coverage probably won’t protect you. 

If you don’t have enough coverage, you’ll have to pay out of pocket for expenses that exceed your coverage limits. And if you’re sued for additional damages, the financial consequences can be devastating. Purchasing higher liability insurance limits is usually the best way to ensure you are protected. An independent agent can help you decide what coverage limits are best for you and your family. 

How Much Does Car Insurance Cost in Hancock, Michigan?

Michigan has the most expensive car insurance rates in the nation. Rates in Hancock remain high, but are lower than in some other areas of the state. If you want to save on car insurance in Hancock, it’s important to shop around for the best rate. 

  • National average annual car insurance cost: $1,311
  • Michigan average annual car insurance cost: $2,476
  • Hancock average annual car insurance cost: $1,822

Remember, everyone’s car insurance rates are a little different. Insurance companies evaluate the risks you present and base your rates on how likely you are to file a claim. Several individual factors are assessed, including:

  • The make, model, and year of the vehicle(s) you are insuring
  • Your age, marital status, and gender
  • Your driving record, claims history, and credit score
  • Information about other licensed drivers in your household
  • Auto theft rates in your city or ZIP code
  • The amount of liability coverage you are purchasing and the deductibles you choose
  • Whether you own or rent your home

Most insurance companies offer numerous discounts to help you keep costs down. Bundling your home insurance or renters insurance with your auto insurance is one way to earn a discount from most insurance companies. Contact an independent agent in Hancock to obtain and compare customized quotes from multiple, highly rated insurance companies. 

Number of Uninsured Motorists in Michigan

Driving without insurance is against the law in Michigan, yet many drivers continue to drive without coverage. Michigan has the 4th highest percentage of uninsured drivers in the US.

  • How many U.S. drivers are uninsured? 12.6%.
  • How many Michigan drivers are uninsured? 20.3%.

If you are in an accident that is caused by an uninsured driver, it may be difficult or impossible to collect what the other driver owes you for repairs and medical bills. Uninsured motorist insurance was created to ensure that you can receive compensation without the need to take the at-fault driver to court. Uninsured motorist coverage is optional in Michigan, but with so many uninsured drivers on the road, going without could be a serious mistake. 

Number of Auto Thefts in Michigan

The average auto theft rate in Hancock, Michigan is very low. You are not very likely to have your car stolen if you live in Hancock. But that doesn’t mean you shouldn’t take precautions and have the right insurance coverage. 

  • National auto theft rate per 1,000 vehicles: 2.94
  • Michigan auto theft rate per 1,000 vehicles: 2.03
  • Hancock auto theft rate per 1,000 vehicles: 0.44

If your car is stolen or vandalized, you need comprehensive coverage to reimburse you for your lost or damaged car. Comprehensive coverage also helps you pay if falling objects, floods, structure fires, or other hazards cause damage to your car. An independent agent in Hancock can help you review the cost to include this coverage in your policy.

Why Contact an Independent Insurance Agent?

Vehicle owners in Hancock can ask an independent insurance agent for help finding the best auto insurance. Independent agents can obtain quotes from multiple insurance companies, so you can choose a policy that best meets your coverage and budgetary needs. 

Contact an agent near you to start comparing customized car insurance quotes. 

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
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