The minimum coverage cost in Michigan is relatively high because the state has one of the highest minimum coverage requirements in the country. Another reason for Michigan’s expensive auto insurance is historic pressure on the state’s no-fault insurance program from extremely high no-fault claims. For example, from 2002 to 2011, average claims for lost wages, medical expenses and other losses increased 192 percent, or 13 percent per year.
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Rick Hoel is an international business attorney and legal and insurance writer for Bankrate as well as Reviews.com and Accessibility.com. Over the last several years, he has covered topics dealing with personal and commercial insurance and technology and the law. Rick is General Counsel and Director of Risk Management and sits on the Board of Power Stow Americas Inc., a subsidiary of Power Stow A/S in Denmark, the world leader in the supply of tracked conveyor systems to the airline industry.
Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs.
GST taxpayers can't claim any pending input tax credit if this return is not filed by November 30, 2024 for FY 2023-24
