Jun. 1--LANSING -- All Michigan auto insurance companies must give partial premium refunds because people are driving less during the coronavirus pandemic, state officials said Monday.
"Michiganders have been staying safe and staying home and they should see the benefit in reduced auto insurance rates during the COVID-19 pandemic," said Gov. Gretchen Whitmer.
"Every family is feeling added financial pressure due to this virus, and this order will provide some much-needed relief to drivers."
Many auto insurance companies have already been voluntarily offering partial premium refunds. No information was provided by the state Monday about the size of the required refunds.
Under an order issued by the Department of Insurance and Financial Services, auto insurance companies have until June 10 to submit filings that include the proposed refund or premium waiver amount, information on how that amount was determined, and how consumers will receive payments.
The order also requires communication plans to inform customers about the refund and the options available to those with long-term changes in driving habits, such as those who have been laid off or have switched to working from home.
"This order will ensure all insurers are issuing appropriate refunds or premium waivers to their customers," said Anita Fox, the department director. "Consumers may realize additional savings by modifying their policies to reflect their current driving habits. Drivers should contact their agent to discuss garaging a car or making other changes to save on their premiums."
People with questions can contact the department Monday through Friday from 8 a.m. to 5 p.m. at 833-ASK-DIFS (275-3437) or by emailing [email protected].
Contact Paul Egan: 517-372-8660 or [email protected]. Follow him on Twitter @paulegan4. Read more on Michigan politics and sign up for our elections newsletter.
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