Finding economical car insurance for a Jeep Grand Cherokee in Michigan depends on a complex formula that considers things such as whether you are married, your credit status, and the deductible amount you use. Drivers in Michigan pay around $1,875 a year to insure their Grand Cherokee, but that figure is a projection calculated based on a 50-year-old single female driver with both comprehensive and collision coverage and $500 deductibles.
It’s more than likely you aren’t exactly 50 years old or even a female, possibly married instead of single, or maybe you prefer higher deductibles. This demonstrates why the only real way to find the cheapest insurance price for your Jeep is to compare as many rates as possible.
Your vehicle’s trim level will most likely have an effect on the annual cost of coverage, so the rate you will pay to insure a Grand Cherokee Laredo 2WD trim level will be $176 cheaper than the cost to insure the more costly Grand Cherokee SRT-8 4WD model, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Grand Cherokee Laredo 2WD | $374 | $710 | $780 | $46 | $234 | $2,144 | $179 |
| Grand Cherokee Laredo 4WD | $374 | $710 | $780 | $46 | $234 | $2,144 | $179 |
| Grand Cherokee Limited 2WD | $422 | $838 | $780 | $46 | $234 | $2,320 | $193 |
| Grand Cherokee Limited 4WD | $422 | $838 | $780 | $46 | $234 | $2,320 | $193 |
| Grand Cherokee SRT-8 4WD | $422 | $838 | $780 | $46 | $234 | $2,320 | $193 |
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in vehicle garaging location which can alter premiums noticeably.
Finding out which company quotes the cheapest car insurance rates for a Jeep Grand Cherokee calls for a bit more effort than just quoting one company’s rates. Each company uses their own formula to set premium rates, so let’s take a look at the car insurance companies that tend to be cheaper in Detroit.
Best Auto Insurance Prices for Your Jeep
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $987 |
| 2 | GEICO | $1,033 |
| 3 | Safeco | $1,079 |
| 4 | MetLife | $1,324 |
| 5 | Chubb | $1,372 |
| 6 | MEEMIC | $1,394 |
| 7 | Pioneer State Mutual | $1,488 |
| 8 | Hastings Mutual | $1,579 |
| 9 | Auto-Owners | $1,686 |
| 10 | Frankenmuth | $1,713 |
| 11 | SECURA | $1,796 |
| 12 | Progressive | $1,904 |
| 13 | Wolverine Mutual | $2,126 |
| 14 | Allied | $2,309 |
| 15 | Grange Mutual | $2,322 |
| 16 | Allmerica | $2,362 |
| 17 | Hanover | $2,376 |
| 18 | Auto Club Group | $2,391 |
| 19 | Farm Bureau | $2,573 |
| 20 | Nationwide | $2,593 |
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USAA may have some of the most affordable car insurance rates in Detroit at around $987 each year. This is $1,406 less than the average price paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and Chubb also make the cut as some of the most economical Detroit, MI auto insurance companies.
As illustrated above, if you are insured with Safeco and switched to USAA, you could earn an annual premium reduction of roughly $92. Policyholders with MetLife may save as much as $337 a year, and Chubb policyholders might see rate reductions of $385 a year.
If you want to see how much you could save, click here to start your free quote or click several companies below for low rates.
These premium estimates are averages for all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for a Jeep Grand Cherokee. So the company that is best for you may not even be in the top 30 companies shown above. That emphasizes why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
Liability-only versus full coverage
Reducing premiums for car insurance is important to most people, and a good way to buy cheaper insurance for a Jeep Grand Cherokee is to not buy comprehensive and collision coverage. The chart below illustrates the comparison of insurance costs with and without full coverage. The information is based on a clean driving record, no at-fault accidents, $250 deductibles, single status, and no discounts are factored in.
As an average, full coverage on your policy costs an additional $4,654 per year over liability only. That touches on the question if paying for full coverage is worth it. There is no written rule for phasing out physical damage coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then you might consider buying liability only.
There are some situations where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Rate increases following a ticket or accident
One of the best ways to maintain the most affordable car insurance premiums for a Grand Cherokee is to drive carefully and avoid accidents and traffic violations. The information below demonstrates how traffic citations and fender-benders raise insurance premiums for different age categories. The rates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are factored in.
In the example above, the average cost of an auto insurance policy in Michigan per year with no accidents or violations is $2,888. Get two speeding tickets and the average cost rises to $3,974, an increase of $1,086 each year. Now get two accidents along with the two speeding tickets and the yearly cost of car insurance for a Jeep Grand Cherokee jumps again to an average of $8,506. That’s an increase of $5,618, or $468 per month, just for not being a responsible driver!
If you would rather have some advice when comparing insurance rates for a Grand Cherokee, the professional agents shown below are a good start to help you decide which coverages are best. To locate a Detroit car insurance agency closest to you, click the button at the bottom.
- Dave Gilead Insurance Agency
18323 W McNichols Rd – Detroit, MI 48219 – (313) 533-3220 - Detroit Insurance and Services
7752 Vernor Hwy – Detroit, MI 48209 – (313) 843-2730 - Premier Insurance
16119 W Warren Ave – Detroit, MI 48228 – (313) 582-1500 - Woodward Insurance
1529 Woodward Ave – Detroit, MI 48226 – (313) 962-6200 - Jim Saucedo – State Farm Insurance Agent
5602 Vernor Hwy – Detroit, MI 48209 – (313) 841-8100
View more Detroit, MI insurance agents
How to find cheaper auto insurance for a Jeep Grand Cherokee
The list below details a few penny-pinching ideas that can help Detroit drivers buy more affordable auto insurance.
- Home or renters coverage can save on auto insurance
- Assess whether full coverage is needed
- Safe vehicles generally have lower rates
- Prevent price hikes by avoiding at-fault accidents
- Drivers with good credit ratings often pay less
- Comparison shop at least once a year
The last item on the list is extremely crucial, as we noted in the article above. Prices charged by auto insurers adjust often, so drivers shouldn’t be reluctant to buy a different policy if you find a better deal. Brand loyalty is great, but it’s not a great idea if that loyalty results in overpaying a lot of money. In just a couple of minutes you could shop around and find cheaper car insurance for a Jeep Grand Cherokee in Detroit.