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WHAT IS NO-FAULT INSURANCE?
With no-fault insurance drivers are responsible for covering their own auto accident damages, regardless of if they are at fault or not.
Michigan became a no-fault state in 1973. Since then, Michigan’s no-fault insurance has provided unlimited medical protection, which has resulted in high auto insurance premiums. Auto reform is the result of legislators wanting to reduce costs by providing medical limit options.
The biggest question most insureds have is “will I save money on care insurance,”. The answer is easy—that depends on your coverage selections. The lower the medical limit the more the savings, but that choice WILL come with additional risk. There are other coverages which may impact your premium.
WHAT YOU NEED TO DO.
While the new coverage options go into effect on July 2, 2020, you won’t need to take any action until it’s time to renew your policy. In the meantime, here are some steps you can take to prepare:
Review your policy: Make sure you’re familiar with all your coverages and your current limits.
Contact your healthcare provider: You will want to know if your health insurance provider covers injuries related to an auto accident.
Consider the risks: When you make changes to your policy limits, there’s more to think about than how much it costs.
Talk to your family: Once you’ve reviewed, discuss your plans with your family so everyone understands your coverage moving forward.
Reach out to your agent: Your agent and their licensed team of professionals are there to help.
Michigan Based—Michigan Focused. Michigan is our home. We live here, work here and are raising our families here. As Michigan’s insurance company we are dedicated to bringing safety, security, and hope to Michigan families and businesses, in good times and bad.
Michigan is recognized as having the auto insurance system with the highest benefits in the United States.