Finding good, low-cost insurance is not most people’s favorite thing to do, and determining which companies have the lowest-priced insurance rates for veterans involves additional perseverance. Every insurance company has their own process for determining prices, so let’s take a look at the overall cheapest insurance companies in Michigan.
We do need to point out that Michigan insurance rates are impacted by many things which can substantially change the policy price. Taking a driver safety course, marrying your spouse, or getting caught speeding can trigger rate changes that may make certain companies cheaper than before.
Find Cheaper Auto Insurance for Vets
Rank | Company | Cost Per Year |
---|---|---|
1 | USAA | $949 |
2 | GEICO | $993 |
3 | Safeco | $1,069 |
4 | MetLife | $1,324 |
5 | Chubb | $1,414 |
6 | Pioneer State Mutual | $1,444 |
7 | MEEMIC | $1,450 |
8 | Hastings Mutual | $1,627 |
9 | Auto-Owners | $1,636 |
10 | Frankenmuth | $1,713 |
11 | SECURA | $1,832 |
12 | Progressive | $1,923 |
13 | Wolverine Mutual | $2,126 |
14 | Grange Mutual | $2,276 |
15 | Allmerica | $2,316 |
16 | Allied | $2,332 |
17 | Auto Club Group | $2,391 |
18 | Hanover | $2,399 |
19 | Nationwide | $2,516 |
20 | Farm Bureau | $2,678 |
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USAA offers some of the lowest car insurance rates in Michigan at around $949 per year. GEICO, Safeco, MetLife, and Chubb would also be considered some of the best Michigan car insurance companies.
In the rate table above, if you are a policyholder with MetLife and switched to USAA, you could realize annual savings of approxmiately $375. Michigan drivers with Chubb could save as much as $465 a year, and Pioneer State Mutual insureds might realize rate reductions of up to $495 a year.
To see if your current coverage is too expensive, click here to start your custom quote or visit any of the low-priced companies below.
It’s important to note that these premium estimates are averages for all types of insureds and vehicles and and are not calculated with a price discount for veterans. So the insurer that can offer you the best rate may not even be in the company chart above. That points out the importance of why you need to quote rates from many companies using your own personal information and vehicle type.
The car, truck, or SUV requiring insurance is one of the main factors when looking for the cheapest car insurance for veterans in Michigan. Vehicles with high performance, poor safety features, or high incidents of liability claims will cost substantially more to insure than more economical and safe models.
The next lists illustrates insurance prices for a number of the most budget-friendly vehicles to buy insurance for.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Chevrolet Malibu LS | $2,396 | $1,198 | $200 |
Ford Focus SE 2-Dr Coupe | $2,690 | $1,345 | $224 |
Ford Fusion SEL AWD 4-Dr Sedan | $2,802 | $1,401 | $234 |
Hyundai Elantra SE Touring Station Wagon | $2,224 | $1,112 | $185 |
Kia Optima EX | $2,744 | $1,372 | $229 |
Nissan Altima 2.5 4-Dr Sedan | $2,396 | $1,198 | $200 |
Toyota Camry SE | $2,544 | $1,272 | $212 |
Volkswagen Jetta S 2.5 Station Wagon | $2,224 | $1,112 | $185 |
Get a Custom Quote for Your Car Go |
Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Price estimates do not factor in specific location which can affect insurance rates greatly.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Acura MDX Advance 4WD | $2,652 | $1,326 | $221 |
Acura RDX AWD | $2,224 | $1,112 | $185 |
BMW X5 M AWD | $3,262 | $1,631 | $272 |
Chevrolet Suburban LT 4WD | $2,450 | $1,225 | $204 |
Chevrolet Traverse LS 2WD | $2,076 | $1,038 | $173 |
Ford Escape XLT 2WD | $2,020 | $1,010 | $168 |
Ford Explorer Eddie Bauer 4WD | $2,450 | $1,225 | $204 |
GMC Acadia SLE AWD | $2,396 | $1,198 | $200 |
GMC Terrain SLE AWD | $2,224 | $1,112 | $185 |
Honda CR-V EX-L 2WD | $2,076 | $1,038 | $173 |
Honda Pilot Touring 4WD | $2,450 | $1,225 | $204 |
Jeep Grand Cherokee SRT-8 4WD | $2,598 | $1,299 | $217 |
Toyota Highlander Limited 2WD | $2,652 | $1,326 | $221 |
Toyota RAV4 Sport 4WD | $2,396 | $1,198 | $200 |
Get a Custom Quote for Your SUV or Crossover Go |
Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rate information does not factor in specific location information which can change coverage rates substantially.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD | $2,858 | $1,429 | $238 |
Chevrolet Silverado LT Extended Cab 4WD | $2,396 | $1,198 | $200 |
Dodge Ram 2500 Mega Cab SLT 2WD | $2,948 | $1,474 | $246 |
Dodge Ram Quad Cab ST 4WD | $2,596 | $1,298 | $216 |
Ford F-150 Lariat Super Cab 4WD | $2,450 | $1,225 | $204 |
Ford F-250 Lariat Crew Cab Turbo Diesel 2WD | $3,096 | $1,548 | $258 |
GMC Canyon SLE Ext Cab 2WD | $2,340 | $1,170 | $195 |
GMC Sierra 2500HD SLE Extended Cab 4WD | $2,598 | $1,299 | $217 |
GMC Sierra SLE Extended Cab 4WD | $2,598 | $1,299 | $217 |
Toyota Tundra SR/5 Crew Max 4WD | $2,798 | $1,399 | $233 |
Get a Custom Quote for Your Truck Go |
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price information does not factor in vehicle location which can influence premium rates greatly.
The ideal way to snag the cheapest car insurance for veterans in Michigan is to drive safe and avoid accidents and traffic citations. The example below highlights how speeding tickets and fender-benders can increase annual premium costs for different ages of insureds. The premium estimates are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied to the premium.
google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 5053,5513,9473],[‘Age 30’, 3489,3947,7907],[‘Age 40’, 3237,3695,7659],[‘Age 50’, 2831,3289,7253],[‘Age 60’, 2735,3191,7155],[‘Age 70’, 3189,3647,7609]]);var options = {title: ‘Effect of Tickets and Accidents on Michigan Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Michigan’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}
The chart shows that the average cost of an auto insurance policy per year with no accidents or violations is $3,422. Get one speeding ticket and the average cost surges to $3,880, an increase of $458 each year. Now get two accidents along with the one speeding ticket and the yearly cost of insurance for veterans increases to an average of $7,843. That’s an increase of $4,420, or $368 per month, just for not driving safely!
The list below summarizes a few money-saving solutions that can help Michigan drivers get cheap coverage.
The last tip in the list is certainly necessary, as we hit on in the prior article. Insurance prices in Michigan vary greatly, so don’t be hesitant to switch companies if you find a better deal.
Having a favorite company is great, but we do not recommend it if that dedication is costing money that could be going to better use. It only takes a couple minutes to compare rates to find cheaper car insurance for veterans.