Michigan Auto Insurance: Increase of 150,000

2021-12-14 21:56:59 By : Mr. Kent Ye

After the no-fault reforms, auto insurance coverage in Michigan is rising. On Tuesday, the Michigan Insurance League announced that since the Michigan State’s no-fault system reform took effect last summer, more than 150,000 drivers who previously had no auto insurance have purchased auto insurance.

According to a press release from Byrum & Fisk Advocacy Communications, out of 155,170 drivers, more than 66,000 have driven for three years or more without any car insurance. According to the Insurance Information Institute, a quarter of Michigan drivers in 2019 did not have car insurance.

Erin McDonough, Executive Director of IAM, said: “In fact, more and more drivers are finally able to afford car insurance, and for the first time - or for the first time in several years - It further proves that the auto fault-free reforms are working.” “For the first time in eight years, Michigan is no longer the most expensive state for auto insurance. According to insure.com, insurance premiums have fallen by 27%. We want to thank lawmakers for sticking to these reforms. Route so that more people can afford car insurance."

Not surprisingly, the increase in auto insurance coverage is largely due to price. Since the reforms took effect on July 2, 2020, Michigan drivers have saved $1 billion in Michigan Catastrophe Claims (MCCA) fees alone, which is all the cost they saved except for the insurance premiums. On Monday, Governor Whitmer asked the auto insurance company to refund all insured drivers $400 by May 9.

Michigan residents who have not yet purchased auto insurance should do so before the end of the year. The amnesty period for Michigan residents without penalty for purchasing auto insurance will end on January 1, 2022.