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Michigan operates as a no fault state, requiring several types of coverage. In Michigan, all drivers must have personal injury protection (PIP), property protection insurance (PPI), and general liability minimums. Additionally, every driver must present proof of Michigan auto insurance to any peace officer or other sanctioned officer of the state.
The PIP coverage required by Michigan has a minimum of rewarding victims up to 3 years of lost wages, as well as covering all medical expenses. Drivers may find discounts with Health insurance policies that cover some medical expenses or by opting for a high deductible.
In addition to the PIP and PPI coverage, every driver must have minimum liability coverage limits of 20/40/10 for their auto insurance policy. This translates into $20,000 per person injured, $40,000 total for all injured, and $10,000 for any property damage. These are minimums set by the state and should not be considered the best level to carry.
Michigan ranked 11th out of all the states in regards to spending on car insurance in a recently-conducted study. Auto insurance in Michigan cost on average $931.14, with drivers spending $436.51 for liability, $466.68 on collision, and $176.37 on comprehensive coverage. These numbers show a 32% increase in Michigan auto insurance rates over the last five years.
After calculating overall costs for insuring the state, the carriers then create categories of drivers and a-sociate a cost with each category. They place drivers in a specific category by using individual information like what type of car you drive, your driving record, where you live, and whether you are married or single. With all of these factors considered, they determine your individual premium.
GST taxpayers can't claim any pending input tax credit if this return is not filed by November 30, 2024 for FY 2023-24
