UNDERSTANDING AUTO INSURANCE
By: Paxton Dunn
HOW TO: Find the minimum state requirements
A way that you can find the minimum sate requirements for auto insurance is that you can go to www.michigan.gov and type in "Minimum state requirements for auto insurance." Some of the requirements it lists are that you have to have Michigan no-fault insurance to register your vehicle. Motorcycles also must be insured but no under no-fault. You must keep your no-fault insurance certificate in your car with you at all times.
How are insurance rates determined?
A lot of factors go into determining an auto insurance premium. A Premium is an amount that you have to pay for an insurance policy. Some factors that go into determining how much you pay for insurance are; age, how good your driving record is, previous coverage, and what kind of car you are trying to insure.
- Underighting and factor rating are two big things that play into your auto insurance.
- Know what factors play into your rates.
- Ask about different discounts.
- Know whether your state has a tort system or no-fault system.
- Look into optional coverage.
- You can get information from the public library or online.
- Don't go with the first one you find go look into different ones and compare prices.
- You can check new papers and the yellow pages to find a local insurance agent.
- Verify your agent and company with the state insurance department.
- Read the policy very carefully. It is a legal document.