Meemic vs. Michigan: Which Company is the Best Fit for You?

Quick Facts

• In general, Meemic offers significantly more affordable prices than Michigan
• Meemic offers more affordable rates for policyholders who have a clean record
• Michigan offers more discounts than Meemic Insurance Company

Meemic vs. Michigan: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed your search down to Meemic or Michigan as potential options, but between the two, which carrier has cheaper prices for auto insurance?

Looking at nationwide averages, Michigan has average rates that are about 40% per month more expensive than those from Meemic.

However, that doesn't mean Meemic will necessarily be less expensive than Michigan for each driver. Car insurance companies use tons of complex algorithms to calculate premiums, so depending on how old you are or where you live (among a whole bunch of other factors), you could see wildly different rates from the ones above.

So, if you want to find out which of Meemic or Michigan is really the best for you, keep reading to see average prices for each carrier broken down by a range of different rate factors.

Meemic or Michigan: Average Car Insurance Rates by State

Both Meemic and Michigan only offer auto insurance in Michigan, so you'll see that the average figures here will mirror the ones we mentioned above. For Michigan residents, Meemic offers insurance for $281 per month on average. Michigan's average premiums come out to be over 70% more expensive, at $480 monthly.

Typically, where you call home will play a large role in how much you pay for car insurance, but since both companies only do business in Michigan, a wide array of other factors will come into play when you compare Meemic and Michigan. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance prices of any other group of drivers. Usually, that's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. For example, 18-year-old drivers pay an average of more than $500 less a month by choosing Meemic over Michigan.

But both carriers will offer you dramatically lower rates once you turn 25. For example, average prices for Meemic policyholders lower nearly 40% and Michigan's rates reduce over 70% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest auto insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase rates.

So, which company offers the best premiums to retired drivers? Meemic gets the edge here, with average prices coming in at around $279 a month compared to Michigan's $326.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be cheaper for married drivers than they are for those who are single. This usually boils down to married policyholders having more than one car on their policy -- something several car insurance companies will reward with discounts.

When it comes to relationship status, Meemic is the clear winner for single drivers, with premiums about $286 per month more affordable than Michigan, on average. The advantage for married couples with Meemic is also obvious, where drivers save almost $85 a month.

Meemic vs. Michigan: Average Rates by Gender

Did you know men tend to pay more for auto insurance than women? This is because men are statistically more likely than women to get pulled over for speeding or get into an accident, which leads to increased risk for insurers and, therefore, higher prices.

Men and women end up paying the same monthly premiums with Meemic; men and women end up paying the same monthly prices with Michigan.

When it comes to the lowest rates for each gender, Meemic comes out on top for both men and women, with average premiums $199 less for men and $199 cheaper for women.

Meemic or Michigan: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, car insurance can be pretty complicated. There are multiple different coverages that account for a variety of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

Even so, most policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability coverage).

If you're looking for state minimum liability limits, Meemic normally offers significantly less expensive rates of $201 compared to Michigan's $312. When it comes to full coverage policies with similar limits, Meemic again has the edge, with policies around $300 per month cheaper than Michigan, on average.

Is Meemic or Michigan Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance carriers offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault collisions and tickets will most likely raise your rates, but is Meemic or Michigan more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Meemic policyholders can expect their premiums to go up an average of $100 a month if they get a ticket, while Michigan typically raises prices about $205 per month, on average.

But Meemic is normally the less expensive option for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $105 a month and drivers with a ticket can save about $210 per month with Meemic Insurance Company.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Meemic can expect to see around an $74 -- or about 30% -- increase in their auto insurance premiums. Drivers who use Michigan for their insurance will see a monthly bill around $150 (or 35%) more expensive after reporting a collision to their auto insurance carrier.

Overall, drivers who use Meemic end up with the cheaper prices after an accident, with monthly rates averaging $250 compared to Michigan Insurance Company's $431.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- usually a lot more than an accident or speeding ticket. Michigan drivers usually see a 61% raise in their insurance prices after a DUI charge, while Meemic will generally increase rates by about 58%.

If you have a DUI on your record and are looking for more affordable premiums, Meemic tends to be the much more affordable option with average prices of $421 per month compared to $723 from Michigan.

How does Credit Score Impact Meemic and Michigan Rates?

Did you know that many car insurance companies take your credit score into account when calculating rates? Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect a lot of drivers out there.

Auto insurance companies argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.

Looking at Meemic and Michigan specifically, which one has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Meemic or Michigan Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on your monthly insurance bill. Normally, those who drive less will end up with cheaper prices since there's less of a chance of getting into a collision and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Meemic charges. However, there's a pretty significant difference in monthly premiums for Michigan, with drivers who put 6,000 miles on their car annually paying around $59 less every month compared to those who drive 12,000 miles yearly. Still, Meemic is the less expensive option for drivers in both categories.

Meemic vs. Michigan: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a large role in how much you pay for car insurance. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

Meemic tends to offer the most affordable rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest prices from both carriers, but Meemic comes out on top with average rates about $248 monthly. Meemic also has cheaper average prices for policyholders in urban and suburban ZIP codes -- a $171 and $215 a month respective difference when compared to Michigan drivers in similar areas.

Meemic vs. Michigan Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be hard to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you qualify for.

Below, we've broken down all of the different discounts offered by both Meemic and Michigan so that you can see which company can save you the most money each month.

Michigan knocks Meemic out of the park when it comes to the sheer number of discounts available, offering 17 different discounts to Meemic's 17.

Both companies offer quite a few of the same discounts -- like anti-theft discounts, discounts for being a good student, and paid in full discounts -- but Michigan also offers ABS discounts, advance quote discounts, COVID-19 relief discount, and more that Meemic does not.

On the flip side, Meemic has a couple unique discounts of its own -- employee discounts, group discounts, and prior carrier discounts.

Final Thoughts: Is Meemic or Michigan Best for You?

So, we've broken down the average premiums for many of the variables car insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, is Meemic or Michigan the best carrier for you and your specific needs?

Meemic might be best for you if....

• You have a speeding ticket on your driving record.
• You're looking for more protection with "full coverage" insurance.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Michigan might be best for you if...

• You care about discounts (Michigan offers the most).

We hope this guide helps you get a good idea of the differences between Meemic and Michigan. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Meemic and Michigan. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Meemic vs. Michigan FAQs

Is Meemic or Michigan cheaper?

Looking just at the national average rates, Meemic is the less expensive of the two companies, offering average rates of $281 per month compared to $480 for Michigan. That being said, Meemic won't necessarily be the cheapest company for each policyholder, since there are a bunch of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Meemic or Michigan?

Sadly, the answer truly is "it depends.". Neither carrier is necessarily "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Meemic and Michigan offer me different rates?

Auto insurance carriers take a look at quite a few different variables when determining the prices they charge policyholders. Things like where you call home, where you park your vehicle, gender, age, and sometimes even things like your credit score can all be taken into consideration. Both Meemic and Michigan calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from many different companies.

How do I know if Meemic or Michigan is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the best premium. And who knows, the best company for you might not be Meemic or Michigan at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.