If you have been following the proposed legislation regarding Michigan’s No-Fault auto insurance, you have to be asking yourself, what does this really mean to me as a policy holder? I’m here to spell out how the PROPOSED legislation will impact your coverage as well as your pocket book.
Immediately, the proposed bill would offer you a choice of coverage for you PIP(Personal Injury Protection) This is the portion of your policy that covers medical costs that come from auto related injuries. The bill is proposing an immediate reduction of 10% on the current Unlimited PIP package. Currently, everyone has unlimited care for auto related injuries. Under this new bill, the insurance companies would be able to offer the consumer coverage options regarding their PIP. With these options, the consumer would be able to pick a MAXIMUM amount of coverage they would to be insured for. Those options are $50,000, $250,000, $500,000, and Unlimited. This could provide consumers with a significant savings on their auto insurance policies!