What's Different About Michigan's No Fault Auto Insurance?
There are some things about Michigan auto insurance that you might not be familiar with if you've only registered cars in other areas in the US. This insurance is legally required in this state, and made up of three major segments. These are residual liability for bodily injury and property damage to others, personal injury insurance and property protection insurance. When registering a car in Michigan, it's important to be able to prove you possess this insurance, since driving without it is illegal.
Michigan's no fault insurance policies provide for full reimbursement of medical costs, and for the money you lose from being injured, up to a three year period. As of 2007, that amount was up to a little over four thousand, five hundred dollars. People who are killed in an accident and have Michigan auto insurance will be paid up to that amount every month for three years, based on the earnings of the person who has died.
In addition, if someone is injured and can't provide housekeeping or other services for their family, they may be entitled to up to twenty dollars per day to hire other people to do this for them. It's possible to synchronize this kind of coverage to any disability or health policy you currently have to reduce your premium. However, Medicaid and Medicare policies cannot be synchronized. Synchronized policies then become the primary payer, with your Michigan auto insurance covering remaining expenses.
Users of Michigan no fault insurance who damage personal property like buildings and fences can have their insurance company pay up to a million dollars for that damage, as well as damage which has been done to correctly parked cars.
The no fault law in Michigan is also useful for protecting people covered by Michigan auto insurance from lawsuits, though there are situations where you can still be sued. If you caused an accident where someone else was seriously hurt or killed, you were involved in an accident with an out of state car, or your accident occurred outside of Michigan, you may still be sued.
In addition, if you were more than fifty percent at fault in an accident, you may be sued for up to five hundred dollars in damage to the other car. However, in situations where you're sued or are legally responsible for damages, your Michigan no fault insurance will pay up to your coverage limits.
There's a minimum requirement of twenty thousand dollars worth of coverage for property damage and bodily injury coverage to handle situations where a person is injured or killed in an accident. For accidents where several people are injured or killed, up to forty thousand dollars of coverage is required. To cover property damage that happens outside of Michigan, you'll need to have up to ten thousand dollars of Michigan auto insurance coverage. Just remember that if the court awards more than this, you'll be responsible for the excess you need to pay.
Michigan no fault insurance doesn't cover everything, either. For instance, you don't have to have insurance available to cover fixing your own car in an accident or when flood damage, theft, vandalism, or other types of non accident damage occur, or for covering uninsured motorist damage. However, this kind of coverage is available as part of Michigan auto insurance, even if not required by law. - 21392
Michigan's no fault insurance policies provide for full reimbursement of medical costs, and for the money you lose from being injured, up to a three year period. As of 2007, that amount was up to a little over four thousand, five hundred dollars. People who are killed in an accident and have Michigan auto insurance will be paid up to that amount every month for three years, based on the earnings of the person who has died.
In addition, if someone is injured and can't provide housekeeping or other services for their family, they may be entitled to up to twenty dollars per day to hire other people to do this for them. It's possible to synchronize this kind of coverage to any disability or health policy you currently have to reduce your premium. However, Medicaid and Medicare policies cannot be synchronized. Synchronized policies then become the primary payer, with your Michigan auto insurance covering remaining expenses.
Users of Michigan no fault insurance who damage personal property like buildings and fences can have their insurance company pay up to a million dollars for that damage, as well as damage which has been done to correctly parked cars.
The no fault law in Michigan is also useful for protecting people covered by Michigan auto insurance from lawsuits, though there are situations where you can still be sued. If you caused an accident where someone else was seriously hurt or killed, you were involved in an accident with an out of state car, or your accident occurred outside of Michigan, you may still be sued.
In addition, if you were more than fifty percent at fault in an accident, you may be sued for up to five hundred dollars in damage to the other car. However, in situations where you're sued or are legally responsible for damages, your Michigan no fault insurance will pay up to your coverage limits.
There's a minimum requirement of twenty thousand dollars worth of coverage for property damage and bodily injury coverage to handle situations where a person is injured or killed in an accident. For accidents where several people are injured or killed, up to forty thousand dollars of coverage is required. To cover property damage that happens outside of Michigan, you'll need to have up to ten thousand dollars of Michigan auto insurance coverage. Just remember that if the court awards more than this, you'll be responsible for the excess you need to pay.
Michigan no fault insurance doesn't cover everything, either. For instance, you don't have to have insurance available to cover fixing your own car in an accident or when flood damage, theft, vandalism, or other types of non accident damage occur, or for covering uninsured motorist damage. However, this kind of coverage is available as part of Michigan auto insurance, even if not required by law. - 21392
About the Author:
Before you purchase online auto insurance, discover how to get dirt cheap auto insurance for Michigan Auto Insurance.
posted by X - Men @ 4:45 AM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home