Reputable Auto Insurance Companies

Opposing points of view: No-fault changes will cost hospital jobs, hurt care ...

Currently, Michigan drivers are guaranteed their auto insurance company will be there for them, no matter how bad things get. Whether it's a broken collar bone or a traumatic brain injury, your insurance company is required to care for that injury as long as it persists.

The fact that your insurance company cannot abandon you in your time of need is what makes Michigan's auto no-fault insurance system the best in the country.

Michigan insurance companies, however, are attempting to tear down our model no-fault system in exchange for what they claim will be savings for Michigan drivers. When you stop and do the math, unfortunately, the savings just don't add up.

First, the insurance companies say that by capping our injury benefits, drivers will save a few dollars each year on the personal injury protection portion of their policy (often called PIP). A recent study by the highly reputable Anderson Economic Group shows these minimal savings on our auto premiums will cost our state more than $200 million in economic output and 5,000 good-paying jobs in Michigan's health care industry.

The report also estimates 75% to 90% of drivers would choose the minimum PIP coverage, leaving 638 to 765 people each year with insufficient coverage to pay for their catastrophic injuries. Many will be forced to turn to taxpayer-funded programs that could cost the state millions in additional Medicaid and Medicare costs. Many necessary services required for recovery from a catastrophic accident are not covered by health plans, and Medicare and Medicaid support only minimal medical rehabilitation.

Next, the insurance industry wants to place government-imposed price controls on the treatments provided by health care providers to auto accident victims. These price controls would be similar to the fee schedules required for workers compensation cases.

What legislators who support this legislation fail to realize is that auto injuries are very different from workers compensation claims, because they require broader medical specialties and a much longer duration of care. They also fail to understand that health care providers and insurers are already free to negotiate fair prices in a free and open market.

Factors which Determine Auto Insurance Rates

Similar to the rates of other types of insurance, the rates of auto insurance policies are also determined by various factors. This is why it is imperative for you to first know and understand what these factors are if you want to make sure that you are able to get the cheapest quotes for auto insurance policies in the market. One of the main factors which are used in determining auto insurance rates would be the age of the driver. Because younger drivers and older drivers are statistically more likely to get involved or cause vehicular accidents, they are considered riskier to insure and this is why they usually have higher premiums. Another factor which can affect auto insurance rates would be the driving record of the driver. Naturally, individuals who have several violations and tickets on record would have higher premiums because of the risk that the insurance company is taking once they insure them. If you have a less-than-perfect driving record but would like to get lower premiums, you can take some driving courses, as most insurance companies are willing to offer lower rates to individuals who have taken supplementary driving courses believing that they have better driving skills and capabilities.

The type of vehicle you are driving can also affect the rate that you would be getting for an auto insurance policy. Sports cars, classic or vintage cars and cars that are statistically more likely to be stolen or get into accidents may be more expensive to insure while smaller vehicles and vehicles which are equipped with safety features cost a lot cheaper to insure. This is why if you are still in the process of buying a car, you need to make sure that you would be factoring into your decision-making the cost of insuring each of the cars you are considering. If you already have your car, on the other hand, and it falls under one of the higher risk vehicle categories, then you can probably install additional safety and anti-theft features which can help you get more affordable auto insurance premiums. Through knowing the factors which can affect the rate of the auto insurance policy you would be getting, it would be a lot easier for you to find ways on how you can get the lowest possible premiums. You can start your search for policies online as there are plenty of reputable auto insurance companies that have already set up their websites where they are able to provide information and quotes on the auto insurance options they have. You can also get multiple auto insurance quotes from certain websites, which can make the process of searching for a policy even more convenient and efficient.

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