How is my Insurance Rate determined?
- Auto: Your age, your location, the number of drivers in your household and their ages, traffic tickets, at-fault accidents, not-at-fault accidents, the number of claims you have filed (even with previous carriers), any additional endorsements you add, your insurance score, and any discounts for which you may be eligible are a few of the factors considered when calculating your auto premium.
- Homeowners: The replacement cost of your home (which is called “Coverage A”), your home’s contents, your location, how close you are to a fire department and/or fire hydrant, any additional endorsements you add, your insurance score, the number of claims you have filed (even with previous carriers), and any discounts for which you may be eligible are some of the factors considered when calculating your homeowners premium.
NOTE: Pioneer State Mutual believes the most accurate way to determine your rate is to speak with an Independent Insurance Agent. They will be able to calculate your coverage needs, most suitable deductible(s), and find discounts that may apply to your situation.
Can having a higher deductible make my payment more affordable?
Yes, insurance companies typically offer savings for those who choose higher deductibles. Therefore, you would pay more out of pocket before your insurance coverage takes affect at claim time, but you would save more money on your premium.
Is bundling insurance cheaper?
Often yes, but it depends on each insured and situation.
How do I know if I’m adequately covered?
Review your policy with your independent insurance agent. Make sure to consider all assets and the level of risk you are comfortable with.
How long is my policy in-force?
- Auto: Most companies offer a choice between a six-month and twelve-month auto policy.
- Homeowners: The average Homeowners policy is in-force for one year.
How do I check what insurance coverages I currently have?
- Look at your Insurance Declaration (Dec). This is provided to you at the beginning of your policy period, with any changes (endorsements), and at each renewal.
- Speak with your Independent Insurance Agent. They can explain what is covered in your policy.
What is this MCCA Deficit Recoupment line item on my policy?
This fee is required for every vehicle* on every auto policy in Michigan (regardless of the PIP Medical limit you have selected) and is the same amount with every insurance company. The money doesn’t go toyour insurance company, but rather, through your insurance company. A nonprofit entity called the Michigan Catastrophic Claims Association (MCCA) manages these funds to pay the medical bills of people who were catastrophically injured in an auto accident. You can visit the MCCA website for more information.
* Vehicles kept in storage and/or trailers are not subject to this fee.
What happens if I move out of Michigan?
You must obtain new insurance in whatever state you are taking residence in.