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The average cost of insurance in Royal Oak, Michigan is $2,603 ​​per year for full coverage, or about $217 per month, and $1,076 per year for minimum coverage. Since the rates are significantly higher than the national average cost of car insurance, drivers may be interested in finding the best car insurance companies in Royal Oak with the cheapest rates.

Royal Oak’s cheapest auto insurance company is USAA, according to Bankrate’s 2021 Annual Premium Listing Study. While cost is very important to many drivers, insurance agents don’t simply recommend buying as little coverage as possible from the carriers with the lowest rates. Rather, they recommend getting the best car insurance coverage for your situation that you can reasonably afford. To help you choose the best cheap insurer for you, Bankrate’s insurance editorial team looked at companies’ historical ability to pay claims, customer satisfaction rates, the variety of cover options available and the digital font management tools.

Best Cheap Car Insurance Companies in Royal Oak

USAA, Geico, Auto-Owners, Westfield and Farmers have the lowest rates among Michigan insurance companies in Royal Oak, according to the Bankrate Quadrant Rate Study. To find the best auto insurance companies in the Royal Oak, Michigan area, Bankrate selected and compared companies based on several criteria, including rated annual premiums, third-party industry ratings, options coverage and discounts. A weighted Bankrate Score was assigned based on these and other characteristics, with a maximum possible score of 5 points.

insurance company Discount rate score Note from JD Power (Center-North) Average annual premium for full coverage Average annual premium for minimum coverage
USAA 5 895/1000* $1,338 $528
Geico 4.7 837/1000 $1,608 $846
car owners 4.5 842/1000 $2,323 $967
Westfield 4 Unclassified $2,497 $156
Farmers 3.8 828/1000 $4,215 $1,873

*Not officially ranked with JD Power due to eligibility restrictions

USAA

USAA is only available to eligible military service members, veterans, and their family members, but is still considered one of the best car insurance companies in Royal Oak. It offers the cheapest average rate in Royal Oak for full coverage on our list and gets the maximum exchange rate score of 5 points. Although USAA holds the highest score in the JD Power Auto Insurance Study, it is not eligible for the ranking because not everyone can purchase USAA insurance products.

Learn more: USAA Insurance Review

Geico

Geico can be the second largest insurer in the country according to the Insurance Information Institute (Triple-I), but it is below the industry average for customer service in Michigan, according to the 2021 JD Power Auto Insurance Study. Geico’s wide selection of insurance products for business and personal needs and competitive rates make it one of Royal Oak’s top auto insurers. Its range of digital insurance resources also contributes to its Bankrate Score of 4.7.

Learn more: Geico Insurance Review

car owners

Based in Lansing, Michigan Auto-Owners provides auto, home and life insurance products to residents of that state and 25 others across the country. Car owners have a complaint index ratio below baseline with the National Association of Insurance Commissioners, and has an A++ (Superior) financial strength rating from AM Best, reflecting an exceptional historical ability to meet financial obligations to shareholders.

Customers surveyed by JD Power scored 842 customer satisfaction points for auto owners, which is slightly above the industry average in 2021 in the North Central region. While this feedback is largely positive, policyholders who prefer digital tools and resources may want to note that Auto-Owners does not allow claims to be filed via the mobile app.

Learn more: Automobile Owners Insurance Review

Westfield

Westfield Insurance is a smaller insurer, offering both auto and home insurance products regionally in 10 states, and has the cheapest auto insurance in Royal Oak for minimum coverage on our list, on average. Westfield is not one of Michigan’s largest insurers, but still earns an A (Excellent) financial strength rating. Plus, it can offer the benefit of local expertise and customer service.

Learn more: Westfield Insurance Review

Farmers

Farmer’s insurance rates aren’t the most competitive compared to other insurers on our list, but its coverage is specially tailored to the unique needs of Michigan farmers and agricultural businesses. Farmers ranked below the industry average in the 2021 auto insurance study, with 828 points from JD Power, which may mean there is room for improvement in this area. . When it comes to financial strength, Farmers has an A (Excellent) rating, which shows that it has always met its financial obligations well.

Learn more: Farmers Insurance Review

How to get and keep the cheapest car insurance in Royal Oak

Finding and keeping the cheapest car insurance rates from insurance companies in Royal Oak can be done in a few simple ways. These tips can help you see a significant difference in savings on your car insurance cost in Royal Oak, Michigan.

  • Carefully review the coverage limits. Although you cannot purchase less than the state-required minimum insurance limits, you must also purchase sufficient coverage to provide adequate financial protection. However, you don’t want to overbuy either. Work with an insurance agent to ensure you have the right coverage limits for your financial situation.
  • Maintain a clean driving record. Maintaining a good driving record not only keeps you and others safe on the road, it can also help you maintain the most affordable fares. Safe Driving Habits may also qualify you for additional discounts, such as accident-free or claim-free discounts, or discounts when you enroll in a driver safety course.

Frequently Asked Questions

What is the best car insurance company?

Determining the best car insurance company is a personal choice based on what is most important to you as the policyholder. You can choose a company based on its customer service ratings, financial strength indicators, coverage options, and discounts. On the other hand, you can choose an insurer that offers the best digital experience. These features may not reflect the cheapest auto insurance company, but depending on your priorities, you can find the best rates for the insurer’s features that interest you most.

How to buy car insurance online?

Both car insurance quotes and the purchase of a policy can be done completely online with most of the best or cheapest car insurance companies. If that’s your preference, narrow down your choices and then get a quote from the companies’ websites. Whether you are quoting or purchasing a policy online, you will typically need to enter some personal information, including specific vehicle information and your address.

How much does car insurance cost in Royal Oak?

The average cost of car insurance in Royal Oak is $2,603 ​​per year, or about $217 per month, for a full coverage policy. Minimum coverage at Royal Oak averages $1,076 per year. Both of these rates are above the national average, which is currently $1,655 per year for full coverage and $480 per year for minimum coverage.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates shown are based on a 40-year-old male and female with a clean driving record , good credit and the following complete coverage limits:

  • Civil liability of $100,000 in bodily injury per person
  • Civil liability of $300,000 in bodily injury per accident
  • Civil liability of $50,000 in property damage per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 aggregate deductible

To determine minimum coverage limits, Bankrate has used a minimum coverage that meets each state’s requirements. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles a year.

National average rates reflect 2022 rate data from Quadrant Information Services.

These are sampling rates and should only be used for comparison purposes.

Discount rate score

Exchange rate scores primarily reflect a weighted ranking of industry standard ratings for financial strength and customer experience, in addition to analysis of annual premiums quoted by Quadrant Information Services, covering all 50 states and Washington, D.C. DC We know it’s important for drivers to feel confident that their financial protection covers the most likely risks, is priced competitively and is provided by a financially strong company with a track record of positive customer support.

In determining how well the top auto insurance companies meet these priorities, third-party agency ratings from JD Power, AM Best, S&P, NAIC and Moodys had the most impact on the companies’ currency scores. . Since price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, evaluated on over 35,000 U.S. zip codes, has provided a basis on which drivers can compare each supplier.

While coverage options, insurer availability, affordability and customer experience are often top priorities, Bankrate also analyzed each insurer’s online and mobile resources for managing policies and handling claims. Insurance is changing rapidly to keep pace with our digital world, so these aspects have also weighed in determining the exchange rate scores.

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