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Tue March 22, 2011
Michigan auto insurance rates among the nation's highest
In one study, Michigan had the highest auto insurance rates in the nation. In another, Michigan ranked 11th in the nation.
That's according to a piece from Dawson Bell at the Detroit Free Press. Bell writes both studies cited "the state's unique mandate for unlimited coverage for personal injuries as a primary cause for high rates."
From the article:
Michigan auto insurance rates led the country -- $2,541 a year for a hypothetical 40-year-old man with a clean driving record -- in an annual survey released last week by the consumer insurance information site insure.com.
The Michigan rate jumped more than 21% from the same survey a year earlier, overtaking Louisiana, which topped the list last year.
Vermont, at $995 a year, was the cheapest place to buy auto insurance, the survey found.