Rate Cut Included in Michigan Car Insurance Plan
House Republicans are proposing a revised overhaul of Michigan’s auto insurance system and to guarantee a 10 percent cut in premiums for two years.
The plan unveiled Thursday does away with unlimited medical benefits for people catastrophically injured in car accidents.
Most drivers could instead buy $10 million in personal injury protection, and proponents say nobody should reach the cap.
Low-income motorists could pick a cheaper option covering up to $50,000 in medical expenses. Motorists’ health insurance or Medicaid could pay for treatment when caps are hit.
Gov. Rick Snyder helped unveiled a proposal to cap medical coverage at $1 million last April, but the legislation stalled.
Michigan is the only state that offers unlimited medical benefits for catastrophic injuries and rehabilitation. It costs motorists $186 a year.
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Growing Progressive Set to Hire 10,000 for Claims, IT, Other Roles
- Warren Buffett’s PacifiCorp Now Faces $30 Billion Fire Claim Demand
- Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair