Pages

Wednesday, August 5, 2020

New Auto Insurance Cost Reduction Update by MI. Senator Ed McBroom

New auto insurance rules take effect for policies renewing on or after July 1st, 2020. There is a complex interplay between our car insurance and our health coverage. In many ways we may be paying more then we need to for both of the coverage. The new law changes this so that you can select the coverage that is most beneficial for you. If you have other insurance, like medical coverage, that covers you in accidents you may choose a different selection. 

This is a legislation that saves money for people while still allowing consumers to have more choice. 

It does something a little more. It also reduces discrimination in policies. Insurance often charged based on education, zip code, occupation, sex, marital status and home ownership, etc. to make decisions. This often had an adverse impact on certain populations that may not fit these "white picket fence" suburban criteria. Trust me...I used to live in the Detroit area and the cost of minimum insurance was about what I pay now for full coverage. 

Senator McBroom is from the U.P. of Michigan and represents the 38th District. You can find additinal information HERE. The U.P. is a rural eco-tourist area that is becoming ripe for investment and business development. 

When Republicans and Democrats work together to create bi-partisan legislation it often turns out much better. This is an example. The following was taken from a press release...lots of great details.....



No comments:

Post a Comment