(LANSING, MI) - Michigan Office of Financial and Insurance Services (OFIS) Commissioner Frank M. Fitzgerald announced today that an interactive version of the "2001 Buyers' Guide to Auto Insurance in Michigan" is now available. This information is available for the first time in a web-based version at http://www.michigan.gov/cis/0,1607,7-154-10555_13222_13224-34099--,00.html. Hard copies of the guide are available for printing at that site or by contacting OFIS toll free at (877) 999-6442.

"With insurance costs on the rise, it is especially important for Michigan consumers to shop around," commented Fitzgerald. "The 2001 Buyers' Guide to Auto Insurance offers valuable auto insurance information by providing example rates."

The interactive version of the Buyers' Guide allows users to choose an example that most closely fits their situation and location to get a general idea of rates for auto insurance. The user can review example rates for a select list or all auto insurance companies in Michigan. The same example information is also available in the hard copy of the guide.

More information on auto insurance is available in the OFIS Consumer Guide to No-Fault Auto Insurance. This guide explains the mandatory coverages that are required under no fault as well as optional coverages like collision and comprehensive coverage. The guide also explains factors that affect the cost of insurance and offers some suggestions for lowering insurance rates. The guide is available at http://www.michigan.gov/documents/
cis_ofis_noflt_gd_25094_7.pdf or by calling OFIS toll free at (877) 999-6442.

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The Michigan Offices of Financial and Insurance Services (OFIS) is responsible for the regulation of Blue Cross Blue Shield, 29 HMOs, 145 banks, 175 domestic insurance companies, 291 credit unions, 1,300 foreign insurance companies, 1,583 investment advisers, 2,164 securities broker-dealers, 6,000 consumer finance lenders, 89,000 insurance agents, and 120,715 securities agents. OFIS is part of the Department of Consumer and Industry Services and is primarily fee-funded, requiring minimal public tax dollars for its regulatory and consumer assistance activities. OFIS has insurance, financial institutions and securities information available on the web at www.michigan.gov/ofis.

If you would like to receive OFIS press releases electronically, please e-mail ofis-info@michigan.gov.