UPDATED: Mar 13, 2020
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Cheap Car Insurance in Grand Rapids, MI
Are you looking for auto insurance in Grand Rapids? From AutoInsuranceEZ.com, you’ll find the cheapest insurance rates near you. To get free car insurance rates offered by the very best providers right now, input your local zip code within the quote box here.
Grand Rapids, named after the Grand River which runs alongside the town, was first settled by the Dutch in its early history. Because of its convenient location to a major river and plentiful forests, it quickly became an economic powerhouse for the logging industry. This eventually evolved into furniture manufacturing, and to this day Grand Rapids is still a famous producer of office furniture. It is also listed in several popular publications as being a great city to live in.
- Fun fact: someone in Grand Rapids must know how to invest, because the city is #5 (49503) on the list of “Top 101 zip codes with the highest 2004 average taxable dividends for individuals (pop 5,000+)”.
Auto Insurance Coverage Requirements in Michigan
Driving legally in Grand Rapids requires:
|Bodily Injury Liability||20,000/40,000||100,000/300,000|
|Property Damage Liability||10,000||100,000|
|Uninsured Motorist Bodily Injury||Not required||20,000/40,000|
|Medical Payments||Not required||5,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||100 deductible|
Liability insurance may be a good and economical way to insure an older, easily replaceable vehicle. But if you have a newer automobile, you may want to think about additional coverage. After all, Liability won’t pay out on claims on things like weather damage or accidents which aren’t your fault.
In some parts of Michigan, insurance can cost as much as $213 per month for certain motorists, on average. However, living in Grand Rapids can give you the option of getting insurance for as little as $67/mo*!
Nationwide, Allied, and Liberty Mutual are offering some of the lowest rates in Grand Rapids right now. But low rates are only a part of getting the best deal on car insurance. For the whole package, you want a company that not only services you for an affordable price, but with stellar customer and claims services also.
Auto insurance providers contemplate numerous factors when calculating insurance prices, such as driving experience, zip code, type of vehicle owned, driving distance to work, and theft protection devices. Additionally, premiums vary from provider to provider. To discover whether you are still being charged the cheapest price, assess cheap Grand Rapids auto insurance rates via the internet.
Major Car Insurance Factors in Grand Rapids
There is a wide array of various things which may factor into the rate quotes you are offered. Although many specific factors aren’t really anything you can do something about, some of them are elements which you can change for the better. Here are a few things which may change your auto insurance premium:
Your Zip Code
For most people, the most affordable car insurance will usually be found in metropolitan areas with a lesser population density. Since there are less vehicles on the highway, there are not so many opportunities for getting into a significant car crash with a different driver. The populace of Grand Rapids is actually 192,294, and the average household income: $41,669.
If you live in an area with a lot of traffic, odds are that the crash statistics will be higher as well. As you can see from the chart, Grand Rapids had only 7 fatal accidents in 2013, which is very low for a city with nearly 200,000 residents.
Auto Thefts in Grand Rapids
Living within a big city (Especially any that has a high rate of crime) increases your potential for being a target for auto thieves. Should your general locale have substantial statistics of claims for theft, you are likely to pay a little more for your auto insurance in order to attempt to counter these prices. The actual number of thieved motor vehicles in Grand Rapids was 252 during the year of 2013. Thankfully, auto thefts in the area are very low. But that doesn’t mean you shouldn’t have some Comprehensive coverage on your policy.
Your Credit Score
Michigan is one of many states in the country which legally permits your insurer to adjust your rate based on your credit score. Like most things in life, people with excellent credit scores are eligible for some major discounts on their insurance rates. Having poor credit, unfortunately, can double your monthly premium (or more).
As you can see from the chart below, young teenage drivers get charged significantly higher rates. Their youth, as well as their lack of driving experience, make them much more risky to insure. However, teenage drivers can try to alleviate some of this financial burden by looking into a Good Student discount, or taking additional driver education courses.
Your Driving Record
Low-risk drivers tend to have blemish-free (or nearly perfect) driving records, so insurance companies tend to charge them lower rates each month. If your record is less than perfect, you should ask your insurance agent about “accident forgiveness” discounts to see if you can save money. For more serious violations, however, your rates might go up significantly – or your provider may refuse to cover you all together.
Luxury vehicles are much more expensive to insure than your typical sedan. The reason? The extra coverage you have to purchase in order to properly protect your investment adds up. After all, you can’t insure a 6-figure vehicle with Liability coverage alone.
Minor Car Insurance Factors in Grand Rapids
These factors, in addition to the factors above that are very significant, can all contribute to your final monthly insurance premium:
Your Marital Status
For many years, drivers have been under the impression that your marital status can play a major factor in your monthly car insurance premiums. In truth, it depends more on your insurance company than anything. Certain providers charge married couples more, while others might charge less. Most providers don’t charge any difference at all – and even if they do, it might not amount to more than a few dollars per month. However, married couples can save a great deal of money by bundling their insurance policies together.
Think men are terrible drivers? Well, your insurance provider will most likely beg to differ. Many companies these days are offering the exact same monthly premiums, regardless of gender. And providers who charge different premiums for men and women only do so by a few dollars per month.
Your Driving Distance to Work
Average work commutes for motorists in Grand Rapids can range between 17-26 minutes, generally. The most popular way to get to work is by driving your own vehicle; nearly 75% of residents do it. Between 3-26% usually carpool.
Some companies will ask you questions about how many miles you drive each year, or why you’re on the road in the first place (work, school, pleasure, etc.). But in reality, this may only influence your monthly premium by about 1-2%. Business vehicles, however, have to pay on average 10% more than vehicles for personal use.
Your Coverage and Deductibles
Adding lots of coverage options makes sense for a more expensive vehicle. For automobiles of lesser value, however, you can save yourself some money each month by sticking to a more basic insurance policy. You can also add a few extra benefits to your coverage and keep your monthly rates low by raising your deductible – just make sure you can afford to shell out the cash if the worst happens.
Education in Grand Rapids, MI
Typically, auto insurance providers like giving lower rates to those who have a higher education. These discounts are even better than those for having a good job, or a wealthy salary. In Grand Rapids, the largest group of motorists (26%) have earned themselves a high school diploma. Just over 20% have not yet obtained their high school education.
You have dozens of different choices when it comes to a higher education in Grand Rapids. For a four-year degree, or perhaps something higher, you should look into Central Michigan University or Ferris State University. For working adults looking to advance their careers, you can also take a look at the ITT Technical Institute or Grand Rapids Community College.
Regrettably for nearly all insurance agencies, a basic online search can easily reveal so many of their business tricks. But even with the help of the correct advice, it could still be challenging for anyone as an individual to determine your personal risk profile and find low-cost insurance. Be sure to perform your due diligence before you commit to your subsequent auto insurance policy. Learn more about Grand Rapids, Michigan.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.