Detroit Car Insurance (Yikes!)

[Valerie King]

I'm saving up to house hack and live in the suburbs of Detroit with my mom. With prices going up all around, I recently spread my house hunting reach to include Detroit. 

Then, just last night, my dad pointed out that car insurance is higher there than the suburbs -- and anyone who lives in Michigan knows our state's premiums are much more insane than elsewhere in the country as is. 

I already pay around $260 a month with an address in the suburbs, including a clean driver discount and discount for having a car with premium safety features. 

But that could easily double if my address becomes a Detroit address, and that insane expense could easily make a Detroit investment pointless, depending on cash flow. If I were strictly investing that'd be one thing. But conventional loans generally require at least a year of occupancy. 

Wanted to share this as an example of the many factors to consider when planning to investment in real estate. 

Do you house hack in Detroit? I'd be interested in hearing what that's like for you! 

http://wdet.org/posts/2015/09/21/81534-curiosid-why-is-detroit-auto-insurance-so-expensive/ 

[Christian Hutchinson]

Originally posted by @Valerie King:

I'm saving up to house hack and live in the suburbs of Detroit with my mom. With prices going up all around, I recently spread my house hunting reach to include Detroit. 

Then, just last night, my dad pointed out that car insurance is higher there than the suburbs -- and anyone who lives in Michigan knows our state's premiums are much more insane than elsewhere in the country as is. 

I already pay around $260 a month with an address in the suburbs, including a clean driver discount and discount for having a car with premium safety features. 

But that could easily double if my address becomes a Detroit address, and that insane expense could easily make a Detroit investment pointless, depending on cash flow. If I were strictly investing that'd be one thing. But conventional loans generally require at least a year of occupancy. 

Wanted to share this as an example of the many factors to consider when planning to investment in real estate. 

Do you house hack in Detroit? I'd be interested in hearing what that's like for you! 

http://wdet.org/posts/2015/09/21/81534-curiosid-wh...

 No one registers their car in the Detroit.  You register and insure your car in the suburbs.  Also, I pay 150/mo for two cars a 2012 Buick and a 2008 Malibu for full coverage.  I have paid as high as $200 maybe 3 years ago.  At one point last year I had 4 cars registered with my 2013 Yukon and 2013 Escalade for $190/mo.

I have tenants in my Detroit properties who keep their cars registered in other States or at their parents.

I would simply register your vehicle outside Detroit, same with insurance.  Change your driver's license to mate your registration/insurance of course.  DPD will never question it, and the suburban police won't scrutinize you, if you get pulled over.