Auto insurance rates have risen 17 percent since 2020

Auto insurance Rates - 17 Percent
Auto insurance data spat could lead...
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American drivers are paying considerably more now for their coverage than a couple of years ago. Drivers across the United States are paying around 17 percent more for their auto insurance than they were paying in 2020, according to the results of a new Insurify study. This year, the average annual premiums for passenger vehicles across the country is $1,750. Michigan was identified as the state where drivers are paying the most for their auto insurance, at an average annual $2,510. The difference between that and what drivers are paying…

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Michigan auto insurance refund deadline is today

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…

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This state now has the most expensive car insurance (no, it’s not Michigan)

Most expensive car insurance - United States Map

A new report has revealed that Michigan has broken its 7-year streak at the top of the high-priced list. Michigan has long been the state in which the drivers have had to face the most expensive car insurance premiums. However, according to the results of a new data analysis published in a report by insure.com, that state has now slipped into second place and a new one has taken the costly lead. As Michigan has stepped down into second place, Louisiana drivers now find themselves paying the most. Louisiana drivers…

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New Michigan auto insurance law to become effective next month

Michigan auto insurance law - Michigan license plate

The new regulations meant to lower prices for drivers in the state will become effective July 1. On Tuesday, June 23, 2020, the state Department of Insurance and Financial Services held a meeting to answer questions about the new Michigan auto insurance law. The meeting was meant to answer questions and provide more information about the regulations. The new Michigan auto insurance law was developed in the hopes of reducing the cost of the coverage. At the same time, it is meant to help keep up the highest options available…

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Michigan auto insurance to undergo substantial changes throughout 2020

Michigan auto insurance - Michigan license plate

High rates have been a source of contention in the state where drivers pay more than the rest of the country. High Michigan auto insurance rates and how to overcome them has been a controversial topic in the state for decades. In the second half of the year, premiums are likely to fall due to a number of changes in the state. This year, when policies renew on and after July 1, vehicle owners will see a change in those rates they’ve been complaining about for many years. According to…

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Michigan auto insurance reform cuts injured driver fee by 55 percent

Michigan auto insurance reform - car accident

The MCCA intends to reduce its assessment for certain drivers with no-fault reform law implementation. New Michigan auto insurance reform will reduce injured driver fee as of July of next year with the implementation of new law. The Michigan Catastrophic Claims Association will be cutting down assessments for some motorists. The Michigan Catastrophic Claims Association (M.C.C.A.) intends to cut back its assessment for motorists who keep up unlimited medical coverage for injuries in car crashes. This reduction will take the assessment down from $220 to $100 per vehicle and it…

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Michigan motorcycle insurance reform leaves riders concerned over new vulnerabilities

Michigan motorcycle insurance - Man on motorcycle

A new state law designed to get auto insurance rates under control could risk biker coverage. Motorcyclists are feeling nervous about potential upcoming changes to Michigan motorcycle insurance coverage. The state has been making some serious moves to reduce its auto insurance rates after having been the most expensive in the country for many years. The new law will allow motorists to purchase limited personal injury protection benefits. The new state auto insurance law was signed by Democratic Governor Gretchen Whitmer after having been pushed by the Republican-led state legislature.…

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