Financial consequences of being at fault for an accident

Drivers can be determined to be at fault for a collision for things like traffic violations, distracted driving, and other mistakes on the roads in Grand Ledge, MI. Because injured drivers have the right to bring civil lawsuits, the driver and their insurance company can be named defendants in the case, and the victim can argue for damages. Bye Financial Group LLC routinely goes through this process to help drivers afford the costs associated with their accidents. 

Payouts from the driver’s insurance provider

Liability coverage will pay for several thousand dollars worth of costs for the victim’s medical expenses and property damage. In most cases, the insurance company will pay out a settlement reflecting each party’s specific losses. Liability insurance is also required by law in Michigan and other states, and this is done to make sure that costs associated with an accident will be covered. 

Increased insurance costs

A driver who has already been at fault for one or more accidents can face additional costs from their insurance company. Whether these increases happen or the amount of the increase can vary significantly based on each individual insurance company and how they decide to handle the risk posed by the drivers they insure. 

Personal liability for damages

Sometimes, a driver may be liable for some or all accident costs. This is relevant in cases where the driver was operating their car illegally without the required insurance. It is also possible that the insurance coverage amount is insufficient when an accident results in large amounts of damage.  

Getting started with an auto insurance policy

Anyone who needs auto insurance coverage can contact the agents at Bye Financial Group LLC. Their agents serve the Grand Ledge, MI area, and they can provide more specific information about obtaining the proper coverage.

Finding Auto Insurance in Grand Ledge, MI

If you live in or near the Grand Ledge, MI area, you know it is located a few miles from Lansing, it has the appeal of a small town but boasts some of the amenities of larger metro areas. Island Park is one of the biggest attractions in the area and many tourists and locals alike visit the park to enjoy the great outdoors.

Insurance Laws in Michigan

If you decide to visit the area, keep in mind that insurance laws may be different than they are in your home state. Looking for auto insurance in the Grand Ledge area may be confusing because there are a number of car insurance companies in the area.

  • Michigan law requires you to carry no-fault auto insurance. This protects you if you are not at fault in an accident, but it does not pay for damages that are due to other drivers’ miscalculations. 
  • Purchase collision insurance if you wish to have coverage for damage to your car that is your fault or that is due to uninsured or underinsured drivers.
  • Minimum auto insurance coverage is 50,000/100,000/10,000 per accident.
  • Limits for bodily injury in a covered accident are $50,000 per person.
  • Maximum is $100,000 per incident

Tips for Finding the Right Level of Coverage

There are a few tips that you should follow to make sure you find what you need while making sure you are maintaining the minimums required by Michigan law.

  • Deal with an insurance agency that understands the minimums and the application of no-fault insurance in Michigan.
  • Don’t overinsure your vehicle, but make sure you have the largest amount of coverage you can afford without going over the amount you really need based on your level of risk.
  • Compare yourself after speaking with an agent at a trusted insurance agency like Bye Financial Group LLC to see which one is giving you the most fitting deal.
  • Feel free to shop around before committing. 

About Bye Financial Group LLC

Bye Financial Group LLC serves the Grand Ledge, MI area and they are dedicated to helping you find the right amount of insurance for your auto insurance needs. We also carry other types of insurance. Visit us today and contact us to learn more. 

Do I need to get auto insurance in Michigan?

Those that are in the Grand Ledge, MI area will likely find that owning a car is a good investment as it will make it much easier for them to get around town and complete their daily tasks. If you are in this area and get an automobile, you also need to ensure that you get the right insurance. For those that are in the state of Michigan, there are several reasons why you need to have auto insurance.

Meet State Minimum Requirements

The main reason that you are going to need to get auto insurance when you are in Michigan is that you will need to meet the state minimum requirements. Similar to other states, you are going to need to have liability insurance at all times. When you have this coverage, it will provide assurances that you are able to pay for damages that could be caused in an accident.

Coverage for Vehicle

Depending on your situation, you may also need to get auto insurance to protect your vehicle. If you have an expensive car that you want to be able to repair or replace following an accident or theft, you will need to have a policy with comprehensive and collision coverage. Anyone that has an auto loan will also need to have this protection. 

When you are looking for auto insurance in the Grand Ledge, MI area, you need to speak with the team at the Bye Financial Group LLC. When you speak with the insurance team at Bye Financial Group LLC you are going to receive personalized guidance and support that you need to have. This guidance can help to ensure that you are able to choose a policy that will offer you the protection that you need. 

Why Should I Get Auto Insurance in Michigan

Owning and driving a car in the Grand Ledge, MI area is a necessity for many people. When you do have a car in this area, it is important to consider all of your responsibilities and needs. One thing that you will need to have in place is auto insurance. There are several reasons why you should get auto insurance for your vehicle.

Legal Compliance

One reason why you should get auto insurance when you have a car in Michigan is that it will make sure that you are in compliance with the law. Whenever you take your car on a public road, you are required to have liability insurance in place at all times. This will provide protection in the event you are found liable for an accident that causes damage to the personal property of another person or bodily harm that requires medical care.

Protects Asset

While it is required that you have liability insurance, you also want to have insurance that will protect your vehicle. If you have invested a lot of money in your car, you will want to make sure that you have collision and comprehensive insurance in place at all times. This type of coverage will provide you with protection for a wide variety of types of losses. It also will be required if you have a loan or lease on your car.

When you are looking for auto insurance in the Grand Ledge, MI area, you should speak with the team at Bye Financial Group LLC. The professionals at the Bye Financial Group LLC are very well about all of the rules and regulations that Michigan residents need when they are getting auto insurance. They can then help you get into a policy that will provide you with the right protection and peace of mind. 

What Are The Types Of Auto Insurance Available?

Bye Financial Group, LLC in Grand Ledge, MI wants you to know that almost all states require a person to purchase auto insurance per state laws. Choosing the best option that suits your needs can be a confusing task, especially if you are new to driving. States will not even allow you to register your car to obtain license plates if you do not have proof of auto insurance.  

A typical auto insurance policy, other than the minimum coverage a state may require, would include most of these types of coverage:

  • Liability –  covers bodily injury and personal property which pays for bodily injury, medical expenses, and property damage. 
  • Collision – pays for the costs to your car if your car is hit by an object or vehicle. 
  • Comprehensive – damages to your vehicle caused by Mother Nature or vandalism
  • Personal Injury Protection (PIP) – pay for medical and rehabilitation expenses, work loss, funeral costs, and replacement services.
  • Uninsured/Underinsured Motorist Coverage – provides for liability and property damage coverage for you if the damages are caused by an uninsured or underinsured motorist.

Michigan is a no-fault auto insurance state which requires the following minimum coverage independent as to who is at fault:

  • $10,000 per accident for property damage for an accident that occurs in another state.
  • $40,000 per accident in which kills or hurts several persons
  • $20,000 per person hurt or killed in an accident

In a no-fault state, the types of policies must conform to the no-fault rules in that fault is not determined. For instance, if your car is damaged or if there is a personal injury you must provide any collision and PIP coverage to protect yourself and cannot look to the other driver to pay, even if that driver was at-fault.

The agents of Bye Financial Group, LLC in Grand Ledge, MI are experts in auto insurance.  Please call for more information and to learn how to get a quote! 

 

What can happen if I drive without insurance?

At Bye Financial Group, LLC, we understand how important your independence is, and how important it is for most people in Grand Ledge, MI to be able to drive. Being able to provide insurance is an important part of driving in Michigan, and there are serious legal consequences if you do not follow the law. When it comes to driving, the consequences may get worse as you go on, with the penalties getting worse as you accumulate offenses.

If you are found to be driving without insurance, you can be charged with a misdemeanor, which is punishable by up to one year in jail. You may also have your driving privileges suspended, and you could be ordered to pay fines. The court can also order a combination of all of these punishments, which seems impossible to people who have gotten caught up in the cycle as they find it difficult to get back on track. 

Even drivers who have insurance but fail to carry proof that they have insurance coverage may get a license suspension, even if they provide proof at a later time that they were covered. You can also be sued for all resulting damages if you drive a vehicle and are involved in an accident, and you can even be held liable if you lend your vehicle to someone who is uninsured and that person is involved in an accident. 

Driving with insurance is a big deal in Michigan, and you want a policy that works for your circumstances. If you are in Lansing or Grand Ledge, MI and want to make sure you are protected by the auto insurance that suits you best, call Bye Financial Group, LLC today for a free quote. If you are in a hurry, try our online rating tool to get quotes on auto and home insurance.

3 Questions You Should Ask Your Agent About Auto Insurance

Knowing what you are covered for by your auto insurance company before signing any coverage is vital in protecting you against incurring any extra costs. Before approaching an agent, it’s important you have relevant questions to ask regarding the plan.

Having been in the sector for a long time, Bye Financial Group, LLC in Grand Ledge, MI has all the relevant information on three important questions to ask your agent.

Does my insurer have some discounts for me?

Many insurance companies offer bountiful discounts ranging from being a trusted customer, an associate of a particular organization, or if you are a student. Bye Financial Group, LLC in Grand Ledge, MI advocates that you interrogate your agent so that you be aware of such discounts. Besides, if your agency doesn’t offer such discounts, talk up your agent to link you with one which offers them.

What is covered in my auto-insurance plan?

Many auto insurance customers ask little about what’s covered in their plans. Enquire about each policy you are paying for from personal injury protection policy to property destruction liabilities, and etc. Your agent should explain in detail all the sensitive issues regarding the coverage for each policy in respect to damages or any deductibles which you may need to compensate.

Are there restrictions on how my family member or I will use my assets

Before purchasing any coverage, ensure your agent explains to you any restrictions regarding how you use your assets. He/she should explain if protections will be there for your family member(s) in case any damages or accidents occur during their period of usage.

The above questions should help you understand the services you’ll be paying for and open more room for discussion on how effective your insurance coverage will benefit you, your business, or family as a whole. Reach out to our offices to learn more and try our online rating tool to get a quote on auto insurance.

How Can You Protect Yourself from Uninsured Motorists?

Although the U.S laws have made it almost mandatory for every motorist to purchase auto insurance, there are still many people who have not insured their vehicles. According to recent statistics, in every eight drivers on the road today, one is not insured. The number might even be higher in some areas than others. The chances of being involved in an accident with a vehicle that is uninsured leaves you at risk to suffer significant financial loss. So how can you protect yourself from such instances?

Take Uninsured Motorist Coverage

An uninsured motorist policy is meant to secure you from drivers whose insurance is inadequate to cover damages caused to others. This insurance policy caters for damages created by others without insurance coverage. Having uninsured motorist coverage, also known as underinsured motorist coverage, will save you the stress of filing lawsuits against uninsured motorists.

Contact a Company That Understands You

If you want to secure yourself against uninsured motorists, then you need to seek the assistance of a reliable insurance company. Most companies are not open with their terms, and this results in the client being taken up and down when accidents occur. You need a company that will give you a complete breakdown of what uninsured coverage is all about and explains what is covered under this policy. This will help you determine whether the coverage will work for you or not.

If you are a resident of Lansing or Grand Ledge, MI, then you have an excellent opportunity to get quality services from Bye Financial Group, LLC. The company provides coverage against uninsured and underinsured motorists. You will also get advice on how to go about various accidents and claims processes.

Even if it is not mandatory to have an uninsured/underinsurance policy in your state, you should take one for security. You can contact Bye Financial Group, LLC in Grand Ledge, MI for assistance about this policy. Also, try our online rating tool for quotes on auto insurance.