Finding the cheapest coverage for a Nissan Altima in Michigan hinges on a large number of factors such as how you use your Altima, where your vehicle is garaged, and any prior driving offenses. Drivers in Michigan pay approximately $2,265 annually for Altima insurance, but that figure is a valuation using a 50-year-old single female driver with full physical damage coverage and $250 deductibles.
But there is a high probability that you are not 50 and maybe not even a female, maybe you are married instead of single, or maybe you prefer higher deductibles. Just a minor difference in the rating criteria used to formulate rates can result in a big discrepancy in the cost of a policy.
Having different needs demonstrates why the way we recommend to find the cheapest coverage for your Nissan is to compare rates from as many companies as possible.
The specific trim level will influence the insurance rate, so the price you pay to insure a Altima 2.5 4-Dr Sedan model will cost $512 less than the price to insure the fancier Altima 3.5 SR 2-Dr Coupe version, as shown in the chart below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Altima 2.5 4-Dr Sedan | $458 | $882 | $780 | $46 | $234 | $2,400 | $200 |
| Altima 2.5 S 4-Dr Sedan | $458 | $1038 | $780 | $46 | $234 | $2,556 | $213 |
| Altima Hybrid 4-Dr Sedan | $518 | $1038 | $780 | $46 | $234 | $2,616 | $218 |
| Altima 2.5 S 2-Dr Coupe | $518 | $1038 | $882 | $52 | $264 | $2,754 | $230 |
| Altima 3.5 SR 4-Dr Sedan | $518 | $1038 | $780 | $46 | $234 | $2,616 | $218 |
| Altima 3.5 SR 2-Dr Coupe | $518 | $1196 | $882 | $52 | $264 | $2,912 | $243 |
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Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Information does not factor in specific Detroit garaging location which can influence premium rates greatly.
Which auto insurance company is best in Michigan?
Picking the best auto insurance company can be difficult considering how many different insurance companies sell coverage in Detroit. The rank data displayed below may help you select which car insurance companies you want to consider shopping prices with. These ratings are only comprised of large insurance companies, so companies that focus mainly on Michigan business are not included in the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| 21st Century | 85 | 85 | 91 | 89% | A | 86.9 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Nationwide | 71 | 90 | 93 | 83% | A+ | 84.9 |
| Allstate | 69 | 92 | 92 | 83% | A+ | 84.4 |
| American Family | 77 | 96 | 80 | 85% | A | 83.8 |
| Esurance | 70 | 80 | 89 | 77% | A+ | 79.2 |
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Data Source: Insure.com Best Car Insurance Companies
How accidents and violations affect rates
The obvious way to obtain cheap auto insurance prices in Michigan for an Altima is to drive safely and avoid accidents and keep your driving record clean. The chart below demonstrates how traffic citations and at-fault collisions influence auto insurance rates for each different age category. The information is based on a single male driver, comp and collision included, $100 deductibles, and no discounts are factored in.
In the example above, the average cost of a car insurance policy in Michigan per year with no accidents and a clean driving record is $5,025. Get two speeding tickets and the average cost surges to $6,692, an increase of $1,668 each year. Then add one accident along with the two speeding tickets and the annual cost of auto insurance for a Nissan Altima jumps again to an average of $8,397. That’s an increase of $3,372, or $281 per month, just for not driving responsibly!
The diagram below demonstrates how deductible levels can raise or lower yearly insurance costs when quoting cheap insurance for a Nissan Altima. The premiums assume a married male driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could reduce rates by $716 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $1,080 by using a $1,000 deductible. Young drivers, like the 20-year-old, could roll back prices as much as $2,186 or more by using a higher deductible. If you do raise deductibles, it is necessary to have additional savings on hand to offset the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Should you buy full coverage?
Buying cheaper auto insurance is probably important to most people, and one easy way to find cheap insurance for a Nissan Altima is to not buy comprehensive and collision coverage. The chart below compares insurance costs when comparing full coverage to liability only. The premiums assume no claims or driving citations, $100 deductibles, drivers are not married, and no additional discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $5,724 per year more than buying just liability insurance. That proposes the question if buying full coverage is worth the money. There isn’t a steadfast formula for excluding physical damage coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
There are some situations where removing full coverage is not recommended. If you still owe a portion of the original loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.