In the plains above the city, Waterford, MI is just minutes away from Detroit. But the country life is still available with rich green lawns and plenty of fresh air. It’s a great place to live in with all amenities, from rural to urban, available. But to take advantage of them takes a car, and that requires auto insurance. Our Independent Insurance Agents aren't tied to one company, making them your best first choice for car insurance. Because they can work with the many agencies that insure in Waterford, auto insurance options for the lowest possible cost will be yours to compare. Car insurance is more expensive in Michigan than in any other state. The figures from recent years tell the story:
- In the U.S., car insurance cost $1,311 on average.
- In Michigan, the average was $2,476.
- This earned the state a number 1 ranking, the highest in the nation.
- There was $12.8 billion in losses that year.
Car insurance is expensive in Michigan for two important reasons – a lot of uninsured motorists and a high rate of car theft. It’s a bit more affordable in Waterford than in the city, but it’s still very important to understand your coverage – especially if you commute to Detroit. You need to have the car you rely on protected.
Michigan Car Insurance Requirements
Michigan requires every driver to have some basic insurance by law. Your options for car insurance are listed here along with these requirements:
- Bodily Injury Liability: This is required, with a minimum of $20,000 per person covered and a minimum of $40,000 total for all persons injured in an accident.
- Property Damage Liability: This is also required, with a minimum of $10,000 for any property (primarily other cars) damaged in an accident.
- Personal Injury Protection: This is not required, but you may elect to cover any injuries to yourself.
- Uninsured Motorist Coverage: This is not required in Michigan but worth considering.
- Comprehensive: This is not required. This is a policy that includes all of the options above plus many additional features, including coverage of any damage to the car for any reason.
If you choose a comprehensive policy that takes care of any situation, you have many options to select with it. These include rental car coverage, which means that you are never without a vehicle even when yours is in the shop. It can also include towing so that you are never stuck by the side of the road. If you need to get around for work this may be the coverage that you need.
Number of Uninsured Motorists in Michigan
When shopping around for the policy that fits you best, it’s important to take into account the very high number of uninsured drivers. If you are in an accident that isn’t your fault, uninsured motorist coverage takes care of you even if the person responsible doesn't have insurance. The problem is very serious:
- Nationally, 12.6% of all drivers are uninsured.
- In Michigan, 21.0% of all drivers have no insurance.
Disregarding the law, one in five drivers is not covered. If one of them hits you, it is very difficult to get the drive to pay for the damage and any medical bills that you may incur. That’s why uninsured motorist coverage is so important in Waterford, especially if you rely on your car to get around every day.
Number of Auto Thefts in Michigan
Michigan also has a higher than average rate for car theft. It is something else that you need to consider when buying auto insurance. First, the figures:
- Across the U.S., 2.94 out of every 1,000 cars are stolen each year.
- In Michigan, the rate is 3.33 out of every 1,000 cars.
If your car is stolen, without comprehensive coverage you will have to buy a replacement on your own. With the high rate of car theft in Michigan, it’s important to protect yourself and be sure that you can replace your car, either with insurance or out of pocket. For that reason, many Waterford residents get comprehensive insurance for just about any car, not just a new one. You can take steps to make your car insurance more affordable, such as having a safe place to park your car off the street – which some insurance carriers take into account. The right policy for you isn’t just the one with the lowest cost. It is important to shop around with different companies to find the one that works best with your lifestyle.
Find a Great Waterford Car Insurance Policy
You need a car in Waterford and greater Detroit. The right car insurance is not only a matter of law, but it’s also about your lifestyle and your ability to get around. No matter the incident, whether due to an uninsured driver, theft or bad luck on your part, you need the right policy for yourself.
Talk to your Independent Agent today. Agents aren’t tied to any one company, so they will get you the quote that fits both your needs and your budget.