Cheapest Car Insurance for High School Students in Michigan

The type of vehicle you are buying coverage for is probably the most important factor when looking for the cheapest car insurance for high school students in Michigan. Vehicles with lots of speed or power, a lack of safety features, or a track record of large liability claims will cost quite a bit more to insure than safer models.

The next lists presents coverage premiums for some of the most economical automobiles to insure in Michigan.

Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in vehicle garaging location which can change prices noticeably.

Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific garaging location which can impact auto insurance rates noticeably.

Data variables include single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can modify coverage rates substantially.

When shopping for cheaper auto insurance for teenagers, one of the many criteria that helps auto insurance companies calculate the price of your policy is where you normally keep your vehicle. Regions with larger populations or more claims like Detroit, Southfield, and Flint tend to have higher rates, whereas areas with lower crime rates and fewer weather claims tend to receive cheaper rates.

The table below ranks the most expensive areas in Michigan for high school students to purchase car insurance in.

Annual rates are comparative as the specific Michigan residence address can influence coverage prices significantly.

Establishing which insurers offer the cheapest auto insurance rates for high school students calls for more time than just quoting one company’s rates. Each auto insurance company has a different formula for determining rates in each state, so let’s rank the lowest cost auto insurance companies in Michigan.

It’s a good idea to know that Michigan auto insurance rates are based on many factors that can increase the price of coverage. Simply having another birthday, having a teenage driver, or having a fender bender can trigger changes in premium resulting in some rates now being affordable when they were higher priced.

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USAA quotes some of the best car insurance rates in Michigan at around $987 a year. GEICO, Safeco, MetLife, and Chubb also rank well as some of the lowest-priced Michigan insurance companies.

As the example above demonstrates, if you are a customer of Chubb and switched to GEICO, you might realize savings of in the neighborhood of $379. Michigan drivers with MEEMIC might save as much as $415 a year, and Pioneer State Mutual insureds might reduce prices by as much as $495 a year.

It’s important to note that these premium estimates are averages for all types of drivers and the different vehicles they drive and and are not figured with a price increase for high school students. So the auto insurance company that can offer you the best price may not even be in the above list. That’s why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

The information below illustrates how your choice of deductibles can impact annual premium costs when researching cheap insurance for high school students. The rates are based on a married male driver, comp and collision included, and no discounts are applied to the premium.

In the chart above, a 30-year-old driver could lower their car insurance rates by $534 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $808 by switching to a $1,000 deductible. Even younger drivers, such as the Age 20 example, can cut as much as $1,602 every year by choosing a higher deductible.

When increasing deductibles, it is important to have emergency funds available to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.

Difference between full coverage and liability only rates

Finding the cheapest car insurance for high school students in Michigan is probably important to most drivers, and an effective way to pay less for insurance is to buy only liability coverage. The example below compares insurance costs with full coverage compared to only the Michigan minimum liability coverage. The information is based on no accidents or driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.

Averaged for all ages 20 through 70, full coverage costs $3,933 per year more than insuring for liability only. A very common question is if it’s a good idea to buy full coverage. There is no specific rule that is best for determining when to drop full coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your vehicle’s replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $4,000 after the deductible is paid. If it’s costing in excess of $400 a year for physical damage coverage, then it might be time to buy liability only.

How to get the cheapest car insurance for high school students in Michigan

Here are some of the better penny-pinching suggestions that can help Michigan drivers locate cheap coverage.

• Avoid speeding and other traffic citations and pay less
• Do not get into accidents that are your fault
• Safe vehicles generally have lower rates
• Discounts for being claim-free can be substantial
• Good credit can mean cheaper rates
• Comparison shop frequently

That final tip is notably vital, as we stressed in this write-up. Auto insurance prices can be adjusted at any time, so don’t be afraid to buy from a different company if a more affordable rate is found. Many drivers tend to have loyalty to a certain company, but it’s not a great idea if it’s costing you a wad of cash every year. If you have a few minutes, now is a great time to compare rates to find cheaper car insurance for high school students.