Michigan auto insurance rates are lower than in previous years, according to data from the Insurance Institute of Michigan (IIM).
Significantly, the average automobile insurance premium in Michigan was lower in 2010 than it was in 2003, 2004, and 2005, according to the National Association of Insurance Commissioners (NAIC) data relied on and reported by the IIM:
Additionally, in a 2010 press release, the IIM stated that “Michigan’s average auto insurance premiums declined 9 percent from 2004 to 2008,” and the IIM’s Executive Director, Pete Kuhnmuench, credited Michigan’s “healthy auto insurance market where competition, safer cars and company fraud fighting efforts have resulted in lower costs for policyholders.” (Insurance Institute of Michigan, “National Study Shows Average Auto Insurance Premiums in Michigan Falling,” December 21, 2010, Press Release, quoting IIM Executive Director Pete Kuhnmuench (press release no longer appears on the IIM web site))
Sources: Insurance Institute of Michigan’s chart, “Auto Rates — Premium Comparison by State,” 1/13 update, which is based on data from the National Association of Insurance Commissioners; No Fault chart from Gov. Rick Snyder’s April 18, 2013, No Fault reform press conference; Insurance Institute of Michigan’s 2009 “Fact Checker” report, Page 13 (“Attachment B”)(National Association of Insurance Commissioners’ “2005/2006 Auto Insurance Database Report,” “Combined Average Premium” for 2002-2006)