Michigan's Median Auto Insurance Rates

 
In this economy it is very difficult for many people to get the basics paid for, never mind some of the less urgent bills. Things like vacations, new cars, and the little perks have been done away with for many Americans – and they are not sure how to handle it. They know that they have to make sacrifices where they can, but it is tough to do. But when they see their bills increasing without having done anything different it can be an altogether different story for many. Hence the problem with Michigan’s auto insurance rates.
 
According to a recent report by InsWeb, Michigan’s auto insurance rates have increased over the past six months. They are reporting that the increase is approximately 5.4% for residents’ that have auto insurance. They said that the age group of 19 and younger are paying the highest average auto insurance rates, which is common for that age group across the nation. They pay an average of $1,362 a year for auto insurance. Those in the 20 to 24 age group pay the second highest auto insurance rates, and 60 to 74 year olds pay the least coming in at $603 a year on average.
 
Overall men pay higher rates than women, with men paying $698 for their auto insurance policies while most women are averaging $675. This is a three percent difference, which is significant over the long run. They recommend speaking to your auto insurance agent to see how you might be able to cut back on your rates if you are finding that your amounts are significantly higher than those reported here. It could simply be a clerical error.



 

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