Michigan Office of Financial and Insurance Services (OFIS) Commissioner Linda A. Watters today issued the 2003 Buyers’ Guide to Auto Insurance in Michigan.
The guide, which is an annual survey of automobile insurance companies and their rates for different policies for different areas of the state, is available for reviewing and downloading on the Web. Hard copies of the guide are also available by contacting OFIS toll free at (877) 999-6442.
“As rates fluctuate from region to region, it is especially important to compare policies and companies to find the best value for your situation,” Watters said in a statement. “The 2003 Buyers’ Guide to Auto Insurance can educate consumers on what to ask when shopping around and is a helpful enforcement tool for OFIS”
Michigan law makes it illegal for an insurance company or an insurance agent to do and say certain things. This year, OFIS added additional information in the guide to help consumers identify certain statements that an agent may say that could be illegal. Consumers are encouraged to verify such statements with OFIS.
An additional tool for consumers is the interactive version of the buyers’ guide on the OFIS web site, which allows users to choose an example that most closely fits their situation and location to get a general idea of rates for auto insurance. The user can review example rates for a select list of companies or for all auto insurance companies in Michigan. The same example information is available in the hard copy of the guide.