Michigan Drivers to Receive Partial Auto Insurance Refunds
A new executive order requires all Michigan auto insurance companies to give customers partial premium refunds or waivers, due to people driving less during the coronavirus (COVID-19) pandemic.
“Michiganders have been staying safe and staying home and they should see the benefit in reduced auto insurance rates during the COVID-19 pandemic,” Governor Gretchen Whitmer said in a statement.
“Every family is feeling added financial pressure due to this virus, and this order will provide some much-needed relief to drivers.”
No word yet on the size of the required insurance refunds. Many auto insurance companies have already been voluntarily giving partial premium refunds.
Auto insurance companies must submit filing with the proposed refund or premium waiver amount, how that amount was decided on and how consumers will get their repayments by June 10.
