Live Insurance News

Auto insurance reforms introduced for Michigan’s no fault system

March 12, 2013April 30, 2013

The Senate is now considering the current unlimited personal injury protection at $50,000. New legislation has just been introduced into the Michigan Senate, which would change the current unlimited personal injury protection (PIP) protection from the state’s no fault system and cap it at $50,000. Michigan is currently the only state where vehicle related injuries are covered for a lifetime of medical care. The current no fault auto insurance system in the state would provide someone who was injured in a vehicle accident with an unlimited personal injury coverage for…

Auto insurance fraud strikes unsuspecting customers in Michigan

January 21, 2013April 30, 2013

Some drivers in the state may be carrying fake policies without knowing it. Certain drivers in Michigan are being cautioned that they may wish to look into their auto insurance policies in order to make certain that they have not fallen victim to a scam that has occurred within the state. Regulators in Michigan are warning that fake policies have been issued through a fraudulent company. The drivers at risk are those that have purchased auto insurance coverage through the Tennessee Christian Motorist Aid, say the regulators in the state.…

Auto insurance no fault regulation in Michigan could change

January 16, 2013April 30, 2013

Many people in the state are pushing to have this required element of the policy removed due to cost. The Insurance Institute of Michigan, insurers, other people in the industry, and the residents of the state are now recognizing that the auto insurance in the state requires some changes in order to keep its rapidly rising costs under control. The no-fault portion of the required coverage in the state is leading the cost of car ownership skyward. Now many are starting to feel that this auto insurance system is ready…

Michigan insurance news – no-fault fund transparency

January 9, 2013April 30, 2013

Every car in Michigan pays a $175 yearly fee to the Michigan Catastrophic Claims Association. In recent insurance news, one Judge in Ingham county decided that the public fund should be open for review so residents can understand how the fund sets the annual rate. No-fault and catastrophic loss The MCCA was created by state legislation to help Michigan insurance companies that pay out more than half a million in claim money to people in car accidents and suffer life altering injuries. This limit is for individual claims. Residents have…

Auto insurance in North Carolina named one of the least expensive

August 5, 2012August 4, 2012 Julie Campbell

Coverage may be costly in Michigan, but other states are breathing easy. Though drivers may be paying through the nose to maintain their auto insurance coverage, North Carolina motorists are paying a far lower percentage of their income into their protection. No matter the vehicle, North Carolina law has lower overall premiums for coverage than most states. In fact, at the moment, North Carolina residents are paying the second lowest portions of their household incomes toward their auto insurance in the entire country. The only state paying a lower amount…