LANSING, Mich. (WJRT) - After paying among the highest auto insurance rates in the U.S., Michigan drivers saved among the most with rate reductions this year.
Gov. Gretchen Whitmer said Michigan drivers received an average of 18% lower auto insurance rates in 2021, which exceeds the national average of 4% savings. She credited the state’s 2019 auto insurance reform law for providing the savings.
“Michigan drivers called for relief from high auto insurance rates for decades, and I am pleased that this bipartisan legislation has resulted in savings, increased consumer protections, and more consumer choices than ever before,” Whitmer said.
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Michigan drivers all had been required to pay for unlimited personal injury coverage through their auto insurance, which provided lifetime benefits to treat serious injuries from a crash. The new law allows drivers to select from various levels of medical coverage ranging from unlimited down to $50,000.
“Drivers are able to choose the coverage level that best meets their families’ needs and budget, and even those who’d like to keep unlimited coverage, which provides the nation’s most generous benefits, are still saving money,” Whitmer said.
Even more savings will be coming to drivers after the Michigan Catastrophic Claims Association approved sending a refund to every auto insurance policyholder. The amount, timeline and plan for distributing the refund has not been announced.
Any Michigan drivers who lack valid auto insurance can take advantage of an amnesty period through Jan. 1, allowing them to sign up for coverage without paying a penalty or increased rates.
Copyright 2021 WJRT. All rights reserved.
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November 16, 2021 at 11:56PM
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