MI Auto Insurance
May 25th, 2010 by admin
1. In Michigan, whether you policy is low cost or high-priced, your automobile insurance will protect you against monetary loss in case you have an accident. It is a contract between you as well as a MI licensed insurance corporation. You agree to pay the premium to the company and the Michigan auto insurance corporation agrees to pay your losses as defined within your policy. Most MI auto insurance policies will offer property, liability and medical coverage:
* Liability coverage provides for your legal responsibility to other people for physical harm & property destruction
* Medical protection provides for the cost of treating injuries, rehabilitation plus occasionally lost wages as well as funeral expenses.
* Property protection provides for damage to or theft of the car.
2. Generally, MI auto insurance policies are for a year (occasionally six months). Every MI accredited insurance company should notify you via mail when it’s time to to pay for your premium or renew your policy.
3. Michigan auto insurance policies are normally comprised of six different types of coverage. MI requires that you buy some, but not every one, of these coverages. If you’re borrowing money to purchase a car, the bank possibly will have requirements you need to take into consideration.
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