Car, Home, Toys, and Life Insurance Resource Center

Welcome to the best Michigan insurance resource! Michigan has the most unique insurance laws in the United States. Learn about what it takes to be insured properly as a Michigander. Get saving tips, mandatory coverage amounts, and answers to many frequently asked questions.

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Nov 13

How Often Do You Shop for Car Insurance Quotes?

When is the last time you got a car insurance quote? Maybe it was recently, or maybe a couple of years ago you were checking around. But what if it has been 10, 15, or even 20 years since you last car insurance quote? Now that is loyalty! With all the insurance carriers available today, it is very tempting to check around. It can also potentially pay off big time.

Everyone likes a little loyalty in their lives. Switching insurance every six months can certainly become a hassle and that is not what I am recommending. Maybe you love your insurance agent and never plan to leave. That is okay, you do not have to leave, however it is still nice to know what is out there so you can have a serious talk with your current agent.

It is time to get a quote if:

  • You’ve been with your current carrier for 5 years or more
  • Your insurance rates sky rocket
  • Not satisfied with your insurance carrier or agent

I like my agent. I like my insurance carrier too. Sure there have been some fluctuations with price, we do live in Michigan with the ever increasing MCCA fee. I still check around with other insurance carriers every three years or so just to make sure I’m in the ball park of a competitive rate. I usually check with three different carriers to help determine what the going rate is for my driver risk. At this point I have been with the same insurance carrier for eight years! So, you don’t always have to switch, but be an informed car insurance shopper to save money for your family.

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Sep 13

Why is the MCCA Fee So Expensive?

The MCCA Fee, Michigan Catastrophic Claims Association, is a major expense when it comes to Michigan car insurance. Currently, the MCCA Fee runs $150 per year per insured vehicle. It is a huge annual expense for Michigan residents especially when multiple vehicles are being insured. So what makes the MCCA fee so expensive?

When injury occurs in a Michigan automobile and the cost exceeds $530,000 the MCCA fee kicks in to cover additional costs with no limit. This includes residential and attendant care. If a young person has spinal cord or brain injury, their medical expenses and care will be covered for the remainder of their life. Since 1979 more than 32,600 claims have been filed. In 2012 alone nearly a billion dollars was paid out.

Just over 30,000 claims may not seem like so many over the course of 30 years, but with an unlimited price tag the cost is huge. The cost to Michigan insured drivers will continue to go up as long as there is no cap on pay out. More people will be injured every year and the claims from the past continue to be paid out.

The way I like to look at it is we pay the most, but if you are ever injured, Michigan is the state to be in. Your medical financial expenses will be covered for a lifetime in severe cases. I suppose I’d rather be the one to contribute to the fund without ever using it, verses actually filing a claim. What do you think about Michigan’s unlimited medical fund?