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Wednesday, December 8, 2021

Whitmer declares financial savings for Michigan drivers below auto insurance coverage reform legislation

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LANSING, Mich. — Gov. Gretchen Whitmer introduced on Tuesday that drivers ought to count on decrease prices and extra financial savings for his or her auto insurance coverage insurance policies in comparison with the earlier 12 months.

Beneath the brand new auto insurance coverage legislation, drivers ought to see on common between 25-62% in financial savings on the PIP medical portion of their insurance policies, relying on which protection choices they select this 12 months, a information launch mentioned.

Whitmer additionally reminded drivers who’ve let their auto insurance coverage lapse that point is operating quick to benefit from shopping for insurance coverage penalty-free earlier than the Jan. 1 deadline.

“Michigan drivers known as for aid from excessive auto insurance coverage charges for many years, and I’m happy that this bipartisan laws has resulted in financial savings, elevated shopper protections and extra shopper decisions than ever earlier than,” Whitmer mentioned. “Drivers are in a position to decide on the protection stage that greatest meets their households’ wants and funds, and even those that’d wish to hold limitless protection, which offers the nation’s most beneficiant advantages, are nonetheless saving cash.”

The decrease premiums will save drivers extra money on prime of the anticipated refund that will probably be distributed after the Michigan Catastrophic Claims Affiliation voted to grant the governor’s request to ship refund checks to each Michigan resident with auto insurance coverage.

READ MORE: What’s the MCCA, and why are they sending you a refund test?

“One of the crucial vital shopper protections is the uninsured driver amnesty interval, which helps drivers who’ve let their insurance coverage lapse buy insurance coverage with out paying a penalty or elevated premium – however they have to apply earlier than Jan. 1, 2022,” Michigan Division of Insurance coverage and Monetary Providers Director Anita Fox mentioned. “Beginning on Jan. 1, drivers can as soon as once more be charged a penalty or elevated premium after a lapse in protection, so we strongly encourage all uninsured drivers to contact an agent or insurer right now to use.”

READ MORE: Crash survivors ask: Is governor’s proposed refund from cash put aside for his or her care?

READ MORE: State company says some insurers usually are not following intent of no-fault auto reform legislation

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