Cheapest Auto Insurance Quotes for High Risk Drivers in Michigan

The words “affordable” and “auto insurance” really should not be used together, in particular when you are trying to find the cheapest auto insurance for high risk drivers. Let’s take a look at some things that influence car insurance prices, and figure out some ideas to take the bite out of the next policy you buy.

Determining which company quotes the cheapest car insurance rates for high risk drivers calls for a little more work in order to find the lowest price. Each auto insurer has a different process to set policy rates, so we need to take a look at the lowest cost car insurance companies in Michigan.

Find Cheaper Auto Insurance for Risky Drivers

Get a Free Quote and Save

USAA has some of the cheapest car insurance rates in Michigan at around $958 each year. GEICO, Safeco, MetLife, and Chubb also are some of the cheapest Michigan insurance companies.

In this example, if you are insured with MetLife and switched to GEICO, you could earn savings of in the neighborhood of $327. Insureds with Chubb might save as much as $363 a year, and MEEMIC policyholders might lower prices by $427 a year.

Bear in mind that those premium estimates are averages for all drivers and vehicles in Michigan and do not factor in a rate surcharge for high risk drivers. So the insurer that has the lowest price for you may not even be included in the chart above. That points out the importance of why you need to get rate quotes from many companies using your own individual information.

We all like different vehicles, and the type of vehicle that is being insured is one of the largest considerations that determines whether or not you find economical auto insurance for high risk drivers. Vehicles with high performance, poor crash test ratings, or a high likelihood of having liability claims will cost more to insure than more modest models. The data below showcases insurance premiums for the cheaper automobiles to buy coverage for.

Data based on married male driver age 30, two speeding tickets, two at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Price estimates do not factor in specific location information which can raise or lower prices greatly.

Data based on married male driver age 30, two speeding tickets, two at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-policy, multi-vehicle, and homeowner. Estimates do not factor in specific zip code location which can affect premiums substantially.

Prices based on married male driver age 30, two speeding tickets, two at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Price information does not factor in garaging location in Michigan which can decrease or increase coverage rates noticeably.

Types of discounts on Michigan insurance rates

Insurance providers that provide the cheapest auto insurance for high risk drivers in Michigan may also provide rate discounts that can lower rates by as much as 35% or more if you meet specific eligibility requirements. A few popular companies and their offered discounts can be found below.

• Progressive may include discounts for good student, online quote discount, online signing, homeowner, continuous coverage, and multi-policy.
• MetLife policyholders can earn discounts including claim-free, multi-policy, accident-free, defensive driver, good student, good driver
• Mercury Insurance includes discounts for professional/association, low natural disaster claims, annual mileage, ease of repair, multi-policy, and good driver.
• Nationwide offers discounts for business or organization, family plan, accident-free, defensive driving, and Farm Bureau membership.
• GEICO offers premium reductions for anti-theft, seat belt use, defensive driver, multi-policy, and anti-lock brakes.
• AAA offers discounts including multi-policy, education and occupation, good driver, AAA membership discount, and good student.

The chart below illustrates the difference between insurance prices with and without policy discounts. The premiums are based on a male driver, two citations and two at-fault accidents, Michigan state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with continuous coverage, multiple vehicle, anti-theft, homeowner, vehicle safety, and multiple policy discounts applied. With discounts applied, the average savings per year on car insurance for high risk drivers is 29% or $2,801.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Male Driver No Discounts’, ‘Male Driver with Discounts’],[‘Age 20’, 12639,9033],[‘Age 30’, 9385,6717],[‘Age 40’, 9351,6689],[‘Age 50’, 9033,6457],[‘Age 60’, 8927,6375],[‘Age 70’, 9573,6833]]);var options = {title: ‘Comparison of Insurance Rates for High Risk Drivers’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9’, ‘#98bee2’],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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

The illustration below shows how choosing a deductible can raise or lower yearly insurance costs when trying to find cheap insurance for high risk drivers. The data is based on a single male driver, full coverage, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 9269,8427,7513,6651],[‘Age 30’, 4749,4359,3909,3473],[‘Age 40’, 4727,4309,3837,3385],[‘Age 50’, 4291,3919,3499,3097],[‘Age 60’, 4147,3789,3389,3005],[‘Age 70’, 5035,4625,4173,3749]]);var options = {title: ‘Deductibles and Auto Insurance Rates in Michigan’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},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);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

A 50-year-old driver could cut expenses by $792 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $1,194 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 category, could possibly save up to $2,618 annually by selecting a higher deductible. When choosing a higher deductible, it will be necessary to have plenty of discretionary funds to enable you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

How to find low-cost car insurance for high risk drivers

Here are some of the recommended money-saving suggestions that can help drivers locate lower-cost coverage.

• Multi-policy discounts save money
• You will pay more if you get tickets or have at-fault accidents
• Do not file small claims
• Accidents can significantly increase rates
• Buy a vehicle with excellent safety ratings
• Compare quotes from other companies often

That last tip is incredibly important, as was stressed in the prior information. Rates in Michigan can change considerably in a year, so don’t be unwilling to change insurance companies if a lower price can be found.

Many consumers stick with the same company and that’s fine, but it’s not a great idea if it’s costing you a lot of money every month. In just a few minutes you could shop around and find cheaper car insurance for high risk drivers.