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.
- FM Using AI to Elevate Claims to Deliver More Than Just Cost Savings
- Charges Dropped Against ‘Poster Boy’ Contractor Accused of Insurance Fraud
- IIHS Rolled out A New Whiplash Prevention Test
- Tesla Sued Over Crash That Trapped, Killed Massachusetts Driver
- Capital One $425M Depositor Settlement Wins Preliminary Approval
- Nationwide Spending $100M on AI to Beef up Claims Efficiency, Customer Experience
- Canceled FEMA Review Council Vote Leaves Flood Insurance Reforms in Limbo
- Adjusters Launch ‘CarFax for Insurance Claims’ to Vet Carriers’ Damage Estimates