LANSING, Mich. — The first $400 auto insurance refund checks could go out to Michiganders as early as this week.
The Michigan Department of Insurance and Financial Services said the Michigan Catastrophic Claims Association will transfer $3 billion in surplus funds to Michigan’s auto insurers this week.
Once that is complete, auto insurers will have 60 days to send out required $400 refund checks per vehicle to eligible Michiganders no later than May 9.
In December, the Catastrophic Claims Association voted unanimously to return approximately $3 billion of the surplus money to Michiganders while maintaining approximately $2 billion in surplus funds to ensure continuity of care for catastrophic accident survivors.
This means Michigan auto insurers will have to issue issue refunds to eligible Michigan policyholders of $400 per vehicle, or $80 per historic vehicle, for each vehicle that was insured under a policy that meets the minimum insurance requirements for operating a vehicle on Michigan roads as of 11:59 p.m. on Oct. 31, 2021.
“These $400 refunds are game-changers for so many Michigan families,” said Gov. Gretchen Whitmer. “I called for these refunds because I am committed to lowering costs for Michiganders and putting money back in people’s pockets. They are possible because we worked across the aisle to pass bipartisan auto insurance reform, and we will keep working together to grow our economy and build a state where families can thrive.”
Eligible consumers who do not receive a refund by the May deadline are encouraged to contact their insurance agency.
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