The people of Michigan just cannot wine when it comes to car insurance rates. The latest effort to “help” Michigan drivers lower their car insurance rates would to add a $2 charge to each vehicle insured in the state. That’s right the state wants to control costs by increasing premiums.
That means the average resident of Detroit pays 130% more for car insurance than a driver in the next most expensive region, New York City. New Yorkers paid 36% more than the national average. It also means that a Detroit resident pays 208% more than a person in Charlotte, N.C., which has the nation’s cheapest car insurance. People in Charlotte pay 43% less than the national average.
Some other companies could win from the deal, including Mason Graphite Inc. (LLG), a Canadian company that owns a Lithium Mine in Silver Peak, Nev. Seeking Alpha commentator Randy Carson noted that the legislation approved on Sept. 11 requires the state of Nevada to build a direct road connection between the Giga Factory and U.S. Highway 50, which runs past Silver Peak. That’s important because lithium is the main ingredient in Tesla’s batteries.