How Do Michigan's Rates Stack Up?

Auto insurance rates have gone up over the country, but where does Michigan fit in?

According to bankrate.com, Michigan's annual cost for full coverage car insurance is $3,161. Unfortunately, this is significantly higher than the national average, making Michigan among the more expensive states for car insurance.

When comparing Michigan's insurance costs to other states, the state ranks similarly to other high-cost areas such as Florida ($4,210) and Louisiana ($3,998). In contrast, states like Iowa and Idaho tend to be more affordable, with average full coverage costs of $1,878 and $1,473, respectively.

For minimum coverage, Michigan’s cost of $879 is also higher than many states, though it is more moderate compared to full coverage rates. States like Wyoming and North Dakota offer much lower minimum coverage premiums, at $263 and $397, respectively.

Factors such as population density, weather, and state-specific regulations contribute to the higher insurance rates seen in Michigan. These costs make it essential for residents to compare insurance options to find the best deals.