You guys needed it. I was telling someone from your neighborhood a few months ago what a huge expense insurance was here compared to the Midwest, and they enlightened me as to Michigan’s outrageous insurance costs. One of the most expensive states in the nation for insurance, I believe.
We have had some “reforms” but they’ve been minimal at best. Problem here is what’s known as “PIP”, or personal injury. Basically, the first $10k paid out for medical claims is guaranteed, so you can imagine the cottage industry of doctors and lawyers that have sprung up around it. 10 years ago there was massive fraud being perpetrated by people who would stage accidents in collusion with care providers to get the $10k. It’s been tightened up somewhat, but now the slimy doctors and lawyers involved in it lobby the legislature to keep it in place. The other biggie here is uninsured motorist coverage. Because there are so many transitional people down here, a lot of people coming into the state with limited means won’t get insurance. As long as they don’t register or title a car here there’s no way to nail them, so when they are in an accident you get dinged because they can’t pay. -D > On Aug 22, 2020, at 10:13 AM, Mitch Haley via Mercedes > <mercedes@okiebenz.com> wrote: > > On Sat, August 22, 2020 8:40 am, Dan Penoff via Mercedes wrote: >> We're not as bad as Michigan (sorry, Mitch!) > > Our 'insurance reform' took effect last month. > I meant to contact my agent and see what would happen if I redid my policy > under the new rules, but life gets in the way, along with my tendency > towards procrastination. Our catastrophic claims fund (first million of > medical is paid by insurance, unlimited medical after the first million > paid by a state fund) premium was up around $200/yr/car, and we can now > pick our policy limits. And I believe no-fault for property damage goes > away, you break it, you buy it, but that means more court costs. > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
