Farmington Hills has a lot to offer its residents. Heritage Park, miles of hiking and biking trails, the Nature Discovery center, and of course, high insurance rates. Living in a suburb of Detroit, the residents of Farmington Hills are hit with the same high rates as drivers in the Motor City. Searching for a reasonable Farmington Hills insurance quote can seem like an impossible task, but NetQuote is here to help. We can get you up to speed on the basics, and then help you find the perfect policy for your situation. Here are a few quick tips for finding reasonable Farmington Hills insurance coverage.
Car Insurance in Farmington Hills
According to CarInsurance.com, the average premium for car insurance in Michigan was $2,066 in April 2010. This figure is 22% higher than the national average. Unfortunately, Farmington Hills shares the burden of Detroit's top ten ranking in vehicle thefts per year. In fact, according to the most recent data, the state of Michigan was No.5 for vehicle thefts in 2008.
Because Michigan is a no-fault state, you are going to have to show proof of insurance to get plates for your vehicle. The state requirements are 20/40/10, which translates into $20,000/$40,000 for bodily injury liability, and $10,000 for property damage liability. These minimum requirements are almost never sufficient for the average person. A more realistic starting point would be $100,000/$300,000 for bodily injury, and $50,000 for property damage. You can lower your rates by raising your deductible, but remember you will be on the hook for that higher deductible payment if an accident does occur.
Insuring Your Home
Homeowners enjoy Farmington Hills insurance quotes that are slightly below the national average. The average premium in Michigan is $715 versus $805 nationally. Farmington Hills insurance quotes may be slightly more than the state average, due to the higher median income and home values in the area.
When shopping for homeowners insurance, don't mistake your current home value with the replacement cost, or the amount still due on your mortgage. The housing market has been hit hard by the recession, so if your home value has dropped significantly, make sure you are insured for the replacement cost of the house, and not its current value on the market.
Installing smoke detectors, dead bolts, and security systems are quick and relatively inexpensive ways to lower your premiums. If you want to take it up a notch, insurance companies will normally offer significant discounts for sprinkler systems, or sophisticated security systems that notify the police and fire department at the first sign of trouble.
Comparing Farmington Hills Insurance Quotes
When you are ready to start shopping for Farmington Hills insurance, the number one piece of advice is to shop around. Insurance companies are not all the same; finding a reputable company that will stand behind you when the unthinkable happens is everyone's goal. NetQuote can help you find your insurance soul mate. We take the information you provide us, and match you up with quotes from the most compatible insurance companies. Finding new insurance has never been so easy.