WebMichigan No-Fault Auto Insurance Reform Highlights: New personal injury protection (PIP) allowable expense options, including the option to exclude completely if you meet the requirements. Changes to auto state minimum liability limits (now $50,000/$100,000) and a state requirement to sign off on your liability selection if you choose lower ... WebOne of the biggest changes with Michigan’s Auto Insurance Reform Law is that, beginning July 2, 2024, you can choose your Personal Injury Protection Allowable Expenses (PIP AE) coverage, which may save you money. Personal Injury Protection (PIP AE) helps cover expenses for injuries in an auto accident. PIP coverage is the largest part of your ...
Michigan Auto Insurance Reform FAQs
WebJan 11, 2024 · Michigan eliminated the mandate for unlimited personal injury protection (PIP) on all auto insurance policies on July 2, 2024. These and other major legal reforms resulted in significant savings for Michigan drivers — more than $1,000 on average. Michigan law now requires the following minimum insurance limits: WebFor policies issued or renewed after July 1, 2024, insurance companies are subject to the following overall statewide PIP coverage premium reductions: An average 45% or greater reduction per vehicle for the $50,000 PIP option An average 35% or greater reduction per … django rails laravel
Michigan Auto Insurance Reform – What Drivers Should Know
WebDec 7, 2024 · Michigan’s average auto insurance rate fell from $3,106 in 2024 to $2,535 in 2024, an 18% drop that still left Michigan with the highest average auto insurance costs in the country. Auto insurance costs in Detroit saw the same rate of decline, from $6,314 in 2024 to $5,146 in 2024. Even with these reductions, average rates in Detroit still ... WebJul 2, 2024 · As of July 2, 2024, drivers can choose from six different PIP options: Unlimited PIP coverage. $500,000 limit. $250,000 limit. $250,000 limit with PIP medical exclusion … WebJul 2, 2024 · Reform at a glance. July 2, 2024 effective date of most auto reform changes. At least $120 savings per vehicle on Michigan Catastrophic Claims Association assessment, 10% to 100% potential personal injury protection (PIP) premium savings. $250K/$500K coverage is the default minimum limit if you don't take action, $50K/$100K is the … django r plot