Many people think the best auto insurance is the one with the lowest premium. Well, possibly. Nobody wants to pay more than they have to. But it’s also the case that you get what you pay for. And if you’re not paying for sufficient coverage, you’re not paying enough. Cheap auto insurance isn’t always the best auto insurance.
The best insurance policy depends on your individual needs and preferences as a Kentwood or Byron Center, Michigan driver. What’s the best for someone who has had an accident or a DIU is not the same for a new driver or for someone with a 20 year history without an accident or a claim. If you own multiple vehicles, your best auto insurance isn’t the same as it is for someone who is insuring only one car, or someone who is insuring a 50-year-old classic car that’s only used on weekends and special occasions.
Some factors to consider in your policy include cost, coverage options, deductibles, customer service, and financial strength of the insurance company. An additional factor is how the auto insurance company is evaluated by independent surveys.
Different auto insurance carriers calculate their rates differently, so you are likely to see a wide range of quotes. Again, price is not the bottom line. When comparing policies, make sure you compare similar coverages and then look at rates. Even if you see a cheaper rate for the same coverage you want, take into account the insurer’s reputation.
If the insurer with a lower rate gets poor ratings for customer service (something you can easily check online), it may not be the best auto insurance. If you ever get into an accident, you want to make sure your auto insurance company processes it smoothly and without any hassles. It may be worth paying a little extra to go with a company with a reputation for good customer service.
It is best to research and compare different policies from reputable insurance providers to determine the one that best suits your specific requirements and provides adequate coverage for you and your vehicle. Better yet, consult your local Compass agent if you live in or near Byron Center or Kentwood, MI who can research more than 20 carriers to find the best auto insurance for your needs.
Compare The Best Coverage Options
In most cases, the best auto insurance provides 100/300/50 liability coverage. That means $100,000 coverage of bodily injury per person, $300,000 coverage of bodily injury per accident, and $50,000 liability coverage to property damage (usually the other vehicle involved in the accident) per accident. While above the minimum Michigan requirements, these help protect you financially if you are ever in an accident.
Note that you are responsible for anything that exceeds these limits, and in some cases, you may wish to protect yourself even further. A good rule of thumb is to get enough liability coverage to protect personal assets you could lose if you are sued as a result of a car accident.
Collision and comprehensive are usually grouped together. If you have a car lease or loan, you are required to carry both. Collision covers any accident with your care you cause, or someone else causes or is the result of hitting something other than another car, such as a wall or barrier. Comprehensive covers the actual cash value of the car if it is stolen, vandalized, or incurs other damages other than car collisions.
In Michigan, you are required to maintain $250,000 in PIP (Personal Injury Protection. PIP covers medical expenses for you and your passengers resulting from an accident, regardless of fault.
You can get additional coverage, such as towing insurance, rental reimbursement, or windshield protection. Whether you actually need these depends on your estimate of whether you really need them. If you outright own an old car with a lot of mileage, you might want to consider towing insurance, for example. By the same token, if you have an old car that probably has little actual cash value, it may not be worth carrying comprehensive coverage.
The Best Deductibles and Limits
The higher your deductible for your auto insurance coverage, the lower your premium. The best auto insurance for you may be a high collision deductible if you can afford to pay out of pocket. Conversely, particularly if you have a new car, you may want a lower collision deductible to ensure you can repair your car back to its original condition when you might not have the funds to cover a substantial part of those repairs yourself.
Keep in mind that even the best auto insurance policy won’t pay for everything. Make sure you determine what your auto insurance will actually pay out in the event of a claim and if you feel that provides you with sufficient financial protection. If the best policy for you may require additional coverage, that of course, comes with a higher premium. So again, the best auto insurance policy for you is not necessarily the least expensive policy; rather, the best is the one that provides you with sufficient protection against financial loss.
Look at the Auto Insurer’s Rankings
There are a number of independent rankings of the best insurance companies that you can easily find online. U.S. News & World Report, for example, lists Nationwide, Progressive, and Travelers among its top ten list.
The three auto insurers also made the list of best auto insurance companies at Forbes Advisor, as did Westfield.
Your independent Compass agent works with all these carriers considered the best in the auto insurance industry. In fact, we work with 20 insurance providers to get you the best auto insurance rate with the best coverage and the best customer service.
We can save you on average $796 per year on your auto insurance! Let us help you make the best choice that fits your needs.