AUTO INSURANCE RENEWAL TOOLRenew your policy with confidence, using our renewal tool below.
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RENEWAL CHECKLIST TOOL |
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COVERAGES WE RECOMMEND
COVERAGE: |
SHORT EXPLANATION: |
Required by MI: |
Bodily Injury (BI): |
Covers injuries to others when you are at fault and they either don't have PIP Medical on their policy or it goes beyond what PIP medical may cover |
YES |
Property Damage (PD): |
Covers property damage to others that you are responsible for (this is the out of State limit) |
YES |
Property Protection Insurance (PPI): |
Covers property damage to others that you are responsible for (this is for in MI) |
YES |
Personal Injury Protection (PIP) |
Pays for medical losses, lost wages and replacement services for you and your relatives residing in your home |
YES, can elect to remove |
Mini-Tort: |
$3,000 limit in case the other party has out of pocket expenses as a result of an accident you caused |
Optional |
Collision Coverage: |
Coverage for the vehicle that has the coverage on it from collision, upset and overturn, up to the market value of the vehicle at the time of the loss |
Optional |
Comprehensive Coverage: |
Pays for other physical damage losses to the vehicle such as fire, theft, vandalism, animal impact, weather, falling objects |
Optional |
Underinsured/Uninsured Motorist: |
Protects you if hit by a driver with no or insufficient insurance and it goes beyond your PIP medical |
Optional |
Towing/Roadside Assistance: |
Pays for towing, lockout, out of gas, dead battery, similar |
Optional |
Rental Reimbursement: |
Coverage for utility lines to/from your home. Curb to house is typically on the homeowner |
Optional |
COMMON COVERAGES TO CONSIDER
Don't have backup vehicles? Rental Reimbursement can be a lifesaver. Know though, that it can be tough if you don't have a vehicle rental location near you.
Scared of being stranded on the road? Towing/Roadside assistance can be amazing. Know that some policies are reimbursement only, meaning you have to pay for the service initially, and be reimbursed later.
Want to make sure your vehicle gets repaired? Collision and comprehensive are the only two forms of coverage to protect your vehicle. Know your cars worth, and if over about $3000, it may be worth adding both of these coverages. You have to weigh that you pay your deductible for any loss first, then the insurance company pays for the remainder of the repair bill. Your deductible amount ($250/$500/$1,000 commonly) plus the cost of the coverage should be less than half of the vehicles value for these coverages to make sense to have on the policy.
Wanting peace of mind for injuries of you and resident relatives? Take the unlimited medical option. This is the best coverage money can buy- its is exceptionally comprehensive, without the out of pocket expenses health insurance plans have. It also never stops paying. If you remove it and rely on your health insurance, your coverage ends when that health plan ends (PIP doesn't). PIP medical is unlimited for life in this option.
Have assets in your name? Total up all your assets and then double them. You should have a bodily injury and property damage limit no less than twice that of the value of all your assets.
Scared of being stranded on the road? Towing/Roadside assistance can be amazing. Know that some policies are reimbursement only, meaning you have to pay for the service initially, and be reimbursed later.
Want to make sure your vehicle gets repaired? Collision and comprehensive are the only two forms of coverage to protect your vehicle. Know your cars worth, and if over about $3000, it may be worth adding both of these coverages. You have to weigh that you pay your deductible for any loss first, then the insurance company pays for the remainder of the repair bill. Your deductible amount ($250/$500/$1,000 commonly) plus the cost of the coverage should be less than half of the vehicles value for these coverages to make sense to have on the policy.
Wanting peace of mind for injuries of you and resident relatives? Take the unlimited medical option. This is the best coverage money can buy- its is exceptionally comprehensive, without the out of pocket expenses health insurance plans have. It also never stops paying. If you remove it and rely on your health insurance, your coverage ends when that health plan ends (PIP doesn't). PIP medical is unlimited for life in this option.
Have assets in your name? Total up all your assets and then double them. You should have a bodily injury and property damage limit no less than twice that of the value of all your assets.
AUTO COVERAGE - Prices are Up
In the last couple of years, with COVID, we have seen cost of labor and materials to repair a car sky-rocket. Part of this is the added cost the safety features (lane detection, impact sensors, autonomous driving, etc.) all add.
Additionally, statistics show losses as a result of drivers being distracted are up significantly.
Cost of repair and frequency: both being up has added a lot of cost. Be a driver that is conscientious and you'll see your rates come down compared to the rest of the consumers out there.
Additionally, statistics show losses as a result of drivers being distracted are up significantly.
Cost of repair and frequency: both being up has added a lot of cost. Be a driver that is conscientious and you'll see your rates come down compared to the rest of the consumers out there.
How to know what you should choose...
Advice from us: |
Get Step 1 and 2 right and you will have 95% the equation right.
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Step 1: Your Liability
(coverage in case you hurt someone or their "thing")
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What Are My Options?
$250,000 per person, $500,000 per occurrence $500,000 per person, $500,000 per occurrence $750,000 per person, $750,000 per occurrence $1M per person, $1M per occurrence More available with an Umbrella policy |
What Limit Should You Have?
We encourage you add up all your assets and times that by 2. Round up to the next amount ($250,000, %500,000, $750,000 or $1M) - you should have no less than that amount. If your assets multiplied by 2 equals more than $1M, we encourage you have an umbrella policy (we do in most cases, because they are either free or less than $50 added cost.) |
"Assets x 2 = Limit"
Step 2: Your Medical
(coverage in case you or a family member is hurt in an auto accident)
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What Are My Options?
Option 1: Unlimited Option 2: $500,000 Option 3: $250,000 Option 4: $0 coverage for those opting out, $250,000 for rest Option 5: $50,000 for those with Medicaid Option 6: $0 for those with Medicare |
What Limit Should I Have?
Option 1, Unlimited. There are so many things a health policy doesn't cover, not to mention, if the policy ends, you start paying the rest out of pocket. |
You can't lose with Unlimited
Step 3: Comp and Collision Coverage
What Are My Options?
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Comp:
*Full Glass ($0 deductible for just windshields) can be added to any of the above |
Collision:
Option 1:
Regular always requires. a deductible be paid, Broad waives the deductible if you are not at fault Option 2:
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What Should I Pick?
Don't pick a deductible that is more than you can come up with whenever an accident may occur.
$500 comp, $500 Regular collision is a good medium ground. The deductibles save you a bit of money being slightly higher, but it's also not a crazy amount out of pocket when a loss happens. Regular collision saves you $100 per car, per year for every year you don't have an at-fault loss.
Don't pick a deductible that is more than you can come up with whenever an accident may occur.
$500 comp, $500 Regular collision is a good medium ground. The deductibles save you a bit of money being slightly higher, but it's also not a crazy amount out of pocket when a loss happens. Regular collision saves you $100 per car, per year for every year you don't have an at-fault loss.
