Michigan auto insurance looks very different now than it did before July 2, 2020. Auto insurance reform or “no-fault reform” impacts every driver in the state, including you. However, the topic can also be very confusing.
Saginaw Bay Underwriters created this helpful series of posts entitled “Navigating Auto Insurance Reform” to make what you need to know clear, so you can make informed insurance decisions for you and your family.
In Part 1, we’ll present a high-level introduction to the entire series, so you’ll know what to expect.
The Two Insurance Buckets
Our advisors have discovered that it’s helpful to think of the two major components of an auto insurance policy as two different insurance “buckets.” Each bucket comes into play and protects you differently when you need it.
In Part 2, we’ll explain how the reform impacts the first of these two buckets, Personal Injury Protection (PIP), and explain some considerations regarding PIP:
Part 3 will look at the other bucket, Bodily Injury (BI) liability, and some considerations:
In Parts 4 and 5 we will use scenarios to look at PIP and BI even more closely, including information on:
Other Things You Need to Know
In Part 6, we’ll explain how the reform has affected Michigan auto insurance outside of the two buckets, including:
Part 7 will provide key takeaways and conclude the series.
Making the Complex Simple
Michigan auto insurance reform is a very important topic, but it can also be confusing.
In future “Navigating Auto Insurance Reform” posts, we’ll provide even more in-depth information on the topic, so you can make informed insurance decisions for you and your family.
For more information now, see “Michigan Auto Insurance Reform FAQ.”
Please subscribe to our blog to be notified of future posts. Call Saginaw Bay Underwriters at (989) 752-8600 if you’d like to speak with an advisor about your auto insurance.
Saginaw Bay Underwriters has made every attempt to ensure this information has been obtained from reliable sources. For specific language, please refer to your insurance policy, in addition to state statutes, laws and regulations. Current as of: July 2020.