Michigan Drivers; Get Ready To Pay More For No-Fault Car Insurance
Michigan's auto insurance costs are going up yet again.
According to the Detroit Free Press, the portion of your car insurance that covers "catastrophic medical claims under the state's no-fault insurance plan is increasing by double digits". The fee will go up on July 1st, going from $170 to $192 (which is a 13% increase from last year).
The Michigan Catastrophic Claims Association says that the increases are needed "because of higher-than-anticipated claims costs, partly offset by better-than-expected investment returns." It's also worth noting that The Michigan Catastrophic Claims Association board is mostly made up of insurance companies... funny.
To read more about the new changes and how they'll affect you, click here.