Shocking but true, a large majority of auto insurance policyholders in Michigan have remained with the same auto insurance company for at least the last four years, and nearly the majority have never compared auto insurance rates at all. With the average premium in America being $1,847, drivers could save about 47% a year just by getting comparison quotes, but they just don’t want to compare rate quotes online.
The best way we recommend to find affordable Honda CR-Z insurance in Detroit is to compare prices annually from providers that insure vehicles in Michigan. You can compare rates by completing these steps.
- It will benefit you to learn about how auto insurance works and the measures you can take to prevent expensive coverage. Many rating criteria that cause high rates like speeding tickets, careless driving and an unacceptable credit rating can be eliminated by improving your driving habits or financial responsibility. Continue reading for instructions to get cheaper coverage and get additional discounts that may have been overlooked.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO and State Farm, while agents who are independent can provide prices from multiple insurance companies.
- Compare the new rates to your existing policy to see if a cheaper price is available in Detroit. If you find better rates, make sure there is no coverage gap between policies.
- Notify your agent or company of your intention to cancel your current car insurance policy. Submit the application along with any required down payment for your new policy. Once the paperwork is finalized, keep your new proof of insurance paperwork with your vehicle’s registration.
The most important part of this process is to compare the same coverage limits and deductibles on each price quote and and to analyze as many carriers as you can. Doing this enables a fair price comparison and the best price selection.
To get affordable Detroit auto insurance quotes, there a variety of ways of comparing price quotes from many available auto insurance companies in Michigan. The best way to compare rates is to use the internet to compare rates.
Doing price comparisons online is so simple that it makes it obsolete to call or drive to insurance agencies in your area. The fact that you can get quotes online eliminates this option unless you want the professional advice that can only be provided by a licensed insurance agent. Drivers can get prices online but buy from a local insurance agent.
When quoting auto insurance, remember that getting more free quotes helps locate the best rates. Not every company does online Detroit CR-Z insurance quotes, so you also need to get prices from them, too.
The companies shown below offer free quotes in Detroit, MI. In order to find cheap auto insurance in MI, it’s a good idea that you visit two to three different companies in order to get a fair rate comparison.
Protect your vehicle and other assets
Despite the high cost, buying insurance is required by state law in Michigan and it also provides benefits you may not be aware of.
- Most states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a minimum amount of liability protection if you don’t want to risk a ticket. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your CR-Z, almost every bank will make it a condition of the loan that you have insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender may insure your Honda at a significantly higher premium and force you to pay for the much more expensive policy.
- Insurance preserves both your Honda and your assets. Insurance will pay for medical bills that are the result of an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of buying insurance are definitely more than the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is overpaying over $865 each year so you should quote your policy with other companies at least once a year to ensure rates are competitive.
Insurance Rate Influencing Factors
One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that aid in calculating the level of your policy premiums. If you have some idea of what impacts premium levels, this allows you to make good choices that can earn you big savings. Multiple criteria are used when you get a price on insurance. Some are obvious like an MVR report, but other factors are more transparent such as your credit history or how safe your car is.
Shown below are some of the most common factors car insurance companies consider when setting your rates.
- Vehicles with better crash test results save money – Safer cars tend to be cheaper to insure. Vehicles built for safety reduce the chance of injuries and better occupant protection means your insurance company pays less which can result in lower premiums. If your Honda CR-Z has at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
- Continuous car insurance coverage lowers premiums – Having a gap between insurance policy dates will be a sure-fire way to increase your rates. Not only will you pay more, getting caught without coverage can result in a fine, jail time, or a revoked license.
- Teen vs. experienced drivers – Older, more experienced drivers are more responsible, are lower risk to insure, and are safer drivers. Drivers with little experience tend to be less responsible when at the wheel of a vehicle so they pay higher car insurance rates.
- Incidental coverages may not be needed – Insurance companies have many optional add-on coverages you can purchase on your car insurance policy. Things like vanishing deductibles, towing, and membership fees may not be needed and are just wasting money. You may think they are a good idea when buying your policy, but if you have no use for them get rid of them and save.
- Insurance rates in urban areas – Residing in small towns and rural areas has definite advantages when buying car insurance. Fewer people means less chance of accidents and lower theft and vandalism rates. City drivers have to deal with congested traffic and more time behind the wheel. More time on the road translates into higher accident risk.
Honda CR-Z claim statistics – Insurance companies take into consideration historical loss data for every vehicle when they file their rates in each state. Vehicles that the data determines to have higher frequency or amount of claims will have higher rates for specific coverages. The next table shows the historical insurance loss data for Honda CR-Z vehicles.
For each type of coverage, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Numbers below 100 mean the vehicle has better than average losses, while percentage values above 100 point to more losses or a tendency for claims to be larger.
Honda CR-Z Insurance Loss Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Lower rate quotes by taking advantage of discounts
The price of auto insurance can be rather high, but you might be missing out on some discounts that can help lower your rates. Certain credits will be shown at the time you complete a quote, but a few need to be asked about in order for you to get them.
- ABS and Traction Control Discounts – Vehicles with ABS braking systems or traction control can reduce accidents and therefore earn up to a 10% discount.
- Good Grades Discount – A discount for being a good student can save 20 to 25%. The good student discount can last well after school through age 25.
- Cautious Driver Discounts – Insureds without accidents could pay up to 40% less than less cautious drivers.
- Drivers Education – Teen drivers should enroll and complete driver’s education in high school.
- Low Mileage – Low mileage vehicles can qualify you for better insurance rates on cars that stay parked.
- Defensive Driving Course – Taking part in a defensive driver course could save 5% or more and easily pay for the cost of the class.
- Clubs and Organizations – Belonging to a professional or civic organization may earn a discount when shopping for insurance.
- Government Employee Discount – Federal government employees may qualify for a discount when you quote Detroit auto insurance depending on your company.
- Distant Student – Older children who live away from home at college and do not have a car can receive lower rates.
- Auto/Home Discount – If you have multiple policies and insure them both with the same insurance company you may save nearly 15% which can help you find affordable Honda CR-Z insurance rates in Detroit.
One thing to note about discounts is that most discounts do not apply to the entire policy premium. Most only reduce specific coverage prices like liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, you won’t be that lucky.
A list of companies and some of their more popular discounts are:
- Progressive may have discounts that include online signing, multi-vehicle, good student, continuous coverage, homeowner, online quote discount, and multi-policy.
- MetLife may offer discounts for accident-free, defensive driver, claim-free, good driver, multi-policy, and good student.
- Mercury Insurance policyholders can earn discounts including age of vehicle, good student, multi-car, location of vehicle, ease of repair, annual mileage, and accident-free.
- Nationwide offers discounts including anti-theft, business or organization, good student, multi-policy, and easy pay.
- GEICO offers premium reductions for daytime running lights, membership and employees, anti-theft, multi-vehicle, good student, driver training, and federal employee.
- AAA offers discounts for education and occupation, anti-theft, good driver, multi-car, multi-policy, good student, and pay-in-full.
When quoting, ask each company or agent to give you their best rates. A few discounts may not be offered in Detroit. If you would like to see a list of insurance companies with significant discounts in Detroit, click this link.
Do I just need basic coverages?
When it comes to a policy for your personal vehicles, there really is not a cookie cutter policy. Every insured’s situation is different so your insurance needs to address that.
For example, these questions can aid in determining if you might need an agent’s assistance.
- Can I afford low physical damage deductibles?
- Does my policy cover me if I wreck while driving under the influence?
- How much coverage applies to personal belongings?
- Should I waive the damage coverage when renting a car?
- When should I drop full coverage on my Honda CR-Z?
- Am I covered if I hit someone who is not insured?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier
When to have guidance from an insurance agent
Some people just prefer to talk to an insurance agent and there is nothing wrong with that. One of the benefits of getting online price quotes is the fact that you can find better rates and still have an agent to talk to. And supporting neighborhood insurance agencies is important especially in Detroit.
Upon completion of this quick form, your insurance data is instantly submitted to participating agents in Detroit who will return price quotes and help you find cheaper coverage. You don’t have to contact an agency because prices are sent instantly to you. You can find lower rates without a big time investment. If you need to get a comparison quote from a specific car insurance provider, just navigate to their website and complete a quote there.
If you need to find a reliable insurance agency, there are a couple of different types of agents and how they work. Car insurance agents are categorized either exclusive or independent.
Independent Car Insurance Agents (or Brokers)
These type of agents are appointed with more than one company so they have the ability to put coverage with an assortment of companies and find the cheapest car insurance rates. To transfer your coverage to a different company, they can switch companies in-house and that require little work on your part.
When comparing rates, you will definitely want to get several quotes from at least one independent agent so that you can do a thorough price comparison.
Listed below is a short list of independent insurance agencies in Detroit that may be able to give competitive price quotes.
Cosby Insurance Agy and Financial Services
10140 W McNichols Rd – Detroit, MI 48221 – (313) 864-3285 – View Map
Exclusive Car Insurance Agencies
Exclusive insurance agents can only quote rates from one company and examples are Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot compare other company’s rates so it’s a take it or leave it situation. They are well schooled on their company’s products which helps them sell on service rather than price.
Listed below are exclusive agencies in Detroit that can give you price quote information.
Tony Massey – State Farm Insurance Agent
15 E Kirby St #112 – Detroit, MI 48202 – (313) 873-3334 – View Map
Finding the right insurance agency shouldn’t rely on just a low price. Any agent in Detroit should have no problem answering these questions:
- Do they get extra compensation for selling add-on coverages?
- Will the agent or a CSR service your policy?
- If you raise deductibles, how much can you save?
- Which members of your family are coverage by the policy?
- How experienced are they in personal risk management?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Do they have cheaper tiers of coverage?
Quote more to save more
Cost effective Honda CR-Z insurance is definitely available online and from local insurance agents, so you should be comparing quotes from both to have the best selection. Some insurance companies do not offer online quoting and these regional insurance providers sell through independent insurance agents.
In this article, we presented a lot of tips how to lower your Honda CR-Z insurance rates in Detroit. The most important thing to understand is the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. You may even be surprised to find that the biggest savings come from a small mutual company. Some small companies can often provide lower car insurance rates in certain areas compared to the large companies like State Farm or Progressive.
When getting Detroit auto insurance quotes online, don’t be tempted to buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed physical damage coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to get the best coverage possible at a price you can afford, but don’t skip important coverages to save money.
Much more information about auto insurance in Michigan is available at these links:
- Young Drivers: The High Risk Years Video (iihs.org)
- Who Has Cheap Auto Insurance Quotes for Drivers Over Age 70 in Detroit? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Toyota Camry in Detroit? (FAQ)
- Who Has Cheap Detroit Auto Insurance for a Dodge Ram? (FAQ)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Red Light Cameras (State Farm)