DETROIT – Changes to auto insurance premiums in Michigan are coming on July 1.
Drivers will now have a choice when it comes to coverage level and the Michigan Department of Insurance and Financial Services has launched a website to help consumers navigate the process.
The website shows the various coverage levels, the paperwork and documentation required as well as the questions to ask your agent.
“We want consumers to begin thinking about their choices now so that they will be in the best position to make the decision for their families when their time comes to buy or renew a policy,” director of the Michigan Department of Insurance and Financial Services Anita Fox said.
In addition the state is contracting with six actuarial firms to ensure the numbers coming from the insurance companies are accurate.
“What actuarial review is intended to do is making sure the rates they file and give to the public are reasonable,” Fox said. “So that if they have lower costs and this new law as we anticipate they will also have to pass these on to people who are buying the insurance policies.”
They also have a hotline: 833-275-3437
Click here to learn more about Michigan’s new auto insurance law.