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Janis-Shunta Insurance

950 W. Norton #500
Muskegon, MI 49441

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Janis-Shunta Insurance Blog

Do I need auto insurance when my car loan is paid off

It’s a great feeling when you make your last car payment. Lenders require that the vehicle they give a loan on be fully insured. Now that you are free of the loan, it may seem like a great idea to be free of your car insurance payment as well. Talking to a trusted independent insurance agent is the way to get the insurance information you need. At Janis-Shunta Insurance in Muskegon, MI insuring what is important to you is important to us.  

In the state of Michigan, you are required to have insurance coverage. It is against the law to drive your vehicle without no-fault insurance or to let someone else drive your vehicle. You must have basic coverage to register a vehicle. If you are caught without insurance you can be fined up to $500 or put into jail for up to a year. Since Michigan is a no-fault state you must have mandatory no-fault insurance which comes in three parts. PIP (Personal Injury Protection) this protects you in the event you are injured in an auto accident. PPI (Property Protection Insurance) pays for damage your vehicle does to someone else’s property ( a parked car or a home) and Residual Liability Insurance 20/4010 which is $20,000 accident injury per each person in an accident and $40,000total for each accident and $10,000 in property damage to the other driver’s vehicle. 

This is what you have to have but maybe not what you need or want to have. Collision and comprehensive auto insurance protect your vehicle and if you have assets you may want to add additional liability coverage. 

In Muskegon, MI, and the surrounding area at Janis-Shunta Insurance, we can offer outstanding service at an affordable price. We have 13 plus carriers we write for and that gives you access to a policy that is perfect for you. We are here to help, call our office or stop by for a no-obligation quote.