FAQ – Stedman Insurance

Let’s Make Insurance Simple Again

Whether you’re comparing quotes or starting a new policy, we’re here to help.
Get a free, no‑obligation quote today for auto, home, or business insurance and experience the kind of service that keeps our clients coming back year after year.

Learn More

Frequently Asked Questions

HOME

Do you oﬀer home insurance?

Yes! Stedman Insurance oﬀers home insurance for homeowners in Michigan. As an independent agency, we work with several insurance companies to ﬁnd the best coverage and pricing, and can oﬀer a policy tailored to your needs. In addition to home insurance, we oﬀer many other types of insurance including:

Auto Insurance
Auto & Home Insurance Bundle
Renters Insurance
Mobile Home Insurance
Landlord Insurance
Commercial Insurance
General Liability Insurance
Motorcycle Insurance
Boat Insurance
Classic Auto Insurance
Recreational Vehicle Insurance
Umbrella Insurance
Pet Insurance

How much does home insurance cost?

The average cost for home insurance in Michigan varies due to multiple factors including location, claims history, coverage limits, and your home’s characteristics. We work with multiple home insurance carriers to ensure that you receive the most competitive option for your home insurance.

Is homeowners insurance required?

AUTO

Can my insurance rate increase during my policy term?

The only way your rate will change mid-policy is if you make changes to your policy. For example, if you add or subtract drivers and/or vehicles, or adjust coverages, your rate will change. However, your rate won’t increase during your policy term due to an accident, a violation, or a ﬁled claim.

What are the PIP medical options in Michigan?

As of July 2020, there are now six PIP medical options to choose from for your auto insurance. Anyone can choose PIP options 1-3. Options 4-6, require health coverage that will cover an auto-related accident. Here are the options available:

Unlimited Coverage
500,000 per person per accident
250,000 per person per accident
250,000 per person per accident with exclusions for QHC (qualiﬁed health coverage)
50,000 for persons covered by Medicaid
No PIP medical coverage: Opt-Out with Medicare A&B

Please talk to one of our knowledgeable representatives for more information or questions on PIP coverage in Michigan.

What is collision insurance?

Collision insurance is a type of coverage that can pay to repair or replace your vehicle if it’s involved in an accident with either a stationary object or another vehicle. Collision coverage isn’t legally required in any state, but your lender may require it if you’re leasing or ﬁnancing your vehicle. Collision insurance coverage is available for most types of vehicles, including cars, motorcycles, boats, and RVs.

What is rideshare insurance?

Rideshare coverage protects you and your vehicle if you drive for a ridesharing service like Uber and Lyft. While ridesharing companies may provide some insurance that applies to drivers operating on their platforms, their coverage may be limited while you’re waiting to match with a rider or when you have a passenger in your vehicle.

What is a car insurance deductible?

A deductible is the out-of-pocket expense you pay before your insurer will cover your claim. For example, if you have a $500 deductible and your car repairs cost $2000, you’ll pay $500 and your insurer will pay the remaining $1500. You can choose your deductible amount from the options oﬀered by your insurance company. The higher your deductible, the more of the claim expense you’re responsible for. That means your out-of-pocket costs will be higher when you have a claim, but you’ll have a lower overall insurance rate.

Does car insurance cover maintenance?

Maintenance, mechanical failures, and wear and tear to your vehicle are not covered by auto insurance. If your vehicle is disabled anywhere in the United States or Canada, roadside assistance coverage can pay for a tow to the nearest mechanic.

GENERAL QUESTIONS

What things aﬀect my insurance price?

There are several factors that impact your insurance rate including your coverage options, deductibles, and discounts. Your age, driving record, type of vehicle and insurance history also aﬀect your auto insurance prices. Stedman Insurance has been helping Michigan drivers with their insurance needs since 1959. Working with several competitive insurance companies allows our knowledgeable agents to ﬁnd a policy tailored to your needs and budget.

Can I purchase my insurance over the phone, or do I need to come into the oﬃce?

We can do most things over the phone with an email address to electronically sign your documents. Call to speak with one of our friendly representatives for options.

How can I receive discounts on my insurance?

Begin by asking your agent about discounts that might be available on your policy. We’ll work to get you all the discounts for which you qualify.

Some common discounts include:

Multi-Policy Discount: you may receive a discount by bundling your auto along with your home, renters or condo insurance with the same carrier.
Good Student Discount: many carriers oﬀer a discount for younger drivers enrolled as a full-time student with a good GPA.
Multi-vehicle Discount: If you have more than one vehicle on your policy, you will see additional savings.
Payment Method Discounts: paid in full or enrolling in automatic payments.
Claim Free Discount: Save on your policy by being claim free
Paperless: Save money and the environment
Prior Insurance Discount: Save if you have no lapse in coverage
Low Mileage: Some carriers oﬀer discounts if you drive less than 5,000 miles annually.

Should I bundle my home and auto insurance with the same carrier?

Sometimes it makes sense to bundle your auto and home insurance with the same insurance carrier, but not always. We have several home insurance carriers that only oﬀer property insurance and will give a discount for having auto insurance with Stedman Insurance Agency. Let us run the numbers for you with our carriers and see what package comes out best!

BILLING

Can I set my insurance payments up on auto pay?

Yes, adding automatic payments for your monthly installments will most likely give an additional discount on your policy. Call us for your policy speciﬁc details.

Does how I pay for my insurance aﬀect my premiums?

Most insurance carriers have multiple payment options; EFT (electronic funds transfer), monthly bill by mail, or paid in full. Often you can receive a discount for paying your premiums in full.

CLAIMS

How much will my insurance go up after an accident?

Many insurers may raise your rate if you get into an accident and ﬁle a claim. The exact rate increase will vary by the type of accident and insurer. Many insurers oﬀer accident forgiveness programs, so you will not see a rate increase after certain types of accidents, like your ﬁrst accident, smaller accidents, or a no-fault incident.