Michigan Insurance Resources
Thorough research is the secret to selecting an affordable Michigan insurance policy that you won't regret buying. Read on for a description of the insurance resources in your state that will help you make a good decision.
Michigan Office of Financial and Insurance Regulation
All 50 states have an insurance department that monitors the activities of insurance companies, provides information for consumers, and advocates for policyholders. Michigan's department of insurance is run by the Michigan Office of Financial and Insurance Regulation (OFIR). OFIR has a website that should be the first place you visit after you receive your Michigan insurance quotes.
Most of the research required to make smart policy decisions can be done using the OFIR site. For example, you'll find helpful guides for consumers on various types of insurance, such as auto and home insurance, that are customized for the needs of Michigan residents. More importantly, you can access insurance company complaint ratios for carriers that wrote more than $1,000,000 in annual premiums in Michigan for the calendar year. The complaint ratio expresses the number of complaints a particular insurer received for every $1,000,000 of direct premiums written in the state of Michigan.
Michigan Insurance Brokers and Agents
You might consult a Michigan insurance agent or broker if you need more detailed Michigan insurance quotes or are confused by the quotes you received. Consumers who need assistance estimating their coverage needs also might seek out an agent or a broker. You can use the Michigan department of insurance website to find a licensed agent or broker near you. Remember that a broker can refer you to a number of different insurance companies and give you several quotes on Michigan insurance. An agent, on the other hand, can only inform you of the policies and premiums offered by a single insurer.
J.D. Power and Associates Surveys
If you'd like to research the customer satisfaction levels of the insurers that provide your Michigan insurance quotes, the J.D. Power and Associates site is probably the most reliable resource. J.D. Power conducts national policyholder satisfaction surveys annually to determine how satisfied customers are with their health, auto, life, and property insurance companies. Reading other policyholders' feedback on an insurance company will help you predict how the carrier will treat you. One caveat with the J.D. Power insurance company surveys is that they are not state-specific. In other words, the survey will reveal how an insurer performed nationally but will not necessarily give you insight into how they performed in Michigan.