Live Insurance News

Catastrophic claims fees to take effect in Michigan auto insurance rates

June 16, 2023June 15, 2023 Logan B.

Drivers across the state will need to start paying the additional fees starting with July premiums. Michigan drivers are going to be paying more for their auto insurance starting in July, when higher catastrophic claims fees go into effect. This is the case even for motorists who have opted out of catastrophic no-fault coverage. Last year, the Michigan Catastrophic Claims Association (MCCA) decided to increase its annual per-vehicle assessments on all auto insurance policies in the state. The fee hikes resulting from that decision will become effective as of July…

Michigan auto insurance reform bill causes walkout in surprise House hearing

May 25, 2022May 24, 2022 G. Turner

This was the first hearing of its nature, meant to address medical service fee cut complaints. A recent surprise Michigan auto insurance hearing in the House was intended to respond to complaints received regarding medical service fee cuts for catastrophic crash survivors. The result was that Republicans walked out. The bill failed to advance, and it was removed from committee by the House leaders. The House members who took part in the walkout of the House Insurance Committee meeting said that the Michigan auto insurance bill was not listed in…

Michigan auto insurance refund deadline is today

May 9, 2022May 9, 2022 Marc

Auto insurance refund - Refunds keyboard

Insurers are required to issue their $400 checks to applicable policyholders no later than today. The auto insurance refund deadline insurers have to issue the $400 refund checks to their customers has arrived. Michigan Governor Gretchen Whitmer announced last week that $2.2 billion had yet to be issued. During the second half of April, about 1.2 billion in auto insurance refund checks had been issued, according to Michigan Department of Insurance and Financial Services data. Around $3 billion is intended for redistribution to drivers in the state who had active…

Michigan auto insurance coverage rate change deadline is coming

December 2, 2021December 2, 2021 Nordstrom

State leaders are encouraging residents to do so before the amnesty period runs out and rates increase. Michigan state leaders are pushing for uninsured drivers in the state to get their auto insurance coverage fast before premiums start rising when the amnesty period expires. The amnesty period is a component of the no-fault reform legislation in the state. The new legislation became effective in July 2020. The amnesty period was put in place to provide uninsured motorists with a reprieve, giving them the chance to obtain their legally required auto…

Auto insurance reform details unveiled for Michigan

May 24, 2013May 25, 2013 G. Turner

The new plans for a no fault system have now been unveiled in the hopes of driving rates down. Drivers in Michigan have just received news regarding the reform package for the auto insurance system in the state, which is meant to lower the skyrocketing premiums that they are paying. At the same time, data was revealed regarding a $14 billion catastrophic accident claims fund. The bills for these auto insurance reforms are still drafts, but if they move ahead, they will change the structure of the Michigan Catastrophic Claims…