Car Insurance Refund Michigan

Wlns all auto insurers in michigan have been ordered to issue refunds or premium waivers to drivers because of reduced risks in driving during the covid 19 pandemic. Vehicle travel has dropped off drastically in recent weeks. Car insurance refund still allows insurers to keep billions in premium dollars.

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Wwj if you haven t gotten a break on your auto insurance it looks like there s still a refund coming your way.

Car insurance refund michigan. Gretchen whitmer and the michigan department of insurance and financial services difs on monday announced that difs director anita fox has ordered all auto insurers in michigan to issue refunds or premium waivers to consumers as a result of insurance companies reduced. Michigan department of insurance and financial services director anita fox has ordered all auto insurers in michigan to issue refunds or premium waivers to consumers as a result of insurance. With less miles driven comes less car accidents truck accidents and motorcycle wrecks in michigan. Dearborn mich april 17 2020 as part of our commitment to help aaa members and customers in this uncertain time aaa the auto club group acg is providing 60 million in premium refunds to its auto insurance customers every policyholder with auto insurance in effect as of april 30 2020 will receive a 20 policy refund applied to two months of premium for april and may.

Michigan car insurance rate data comes from the zebra s 2019 state of auto insurance report which analyzed 61 million unique rates to explore pricing trends across all united states zip codes including washington d c. In michigan alone by the end of march statewide travel had dropped by 55 and travel in detroit had dropped by 62 according to data by inrix. State orders partial auto insurance refunds for michigan drivers over coronavirus pandemic. Many michigan auto insurance companies are still deciding whether to give refunds or price adjustments to customers because of the coronavirus pandemic which is causing a big drop in miles driven.

Analysis used a consistent base profile for the insured driver. A 30 year old single male driving a 2014 honda accord ex. Consumer groups and regulators beginning in mid march began to ask car insurance carriers for rebates and refunds for policyholders given the huge decrease in vehicle usage and miles driven. The premium waivers or refunds are in addition to any savings resulting from the upcoming changes to michigan s auto insurance law which has shown reductions to statewide average premiums for.

Auto insurers have until june 10 to submit detailed plans to the state of michigan under a monday order.