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Three Michigan Insurance Companies Approved for Rate Increase
July 11th, 2012 at 3:40 pm   starstarstarstarstar      
Three different insurers were approved by Michigan state regulators for a rate increase that went into effect the first of this month; Allstate, Fremont, and 21st Century.
 
The reason for the increased rate is to cover  Michigan's no-fault insurance program. All three insurance companies have filed formal documents relating the increase to the per-vehicle fee insurers are responsible to the Michigan Catastrophic Claims Association (MCCA). This fee increased by $30 from $145 to $175, (After Mich. Fee Increase, Approvals Come for Insurance Rate Hikes, Ben Zitney, Online Auto Insurance News, http://news.onlineautoinsurance.com/rates/michigan-car-insurance-rates-july-97697).
 
Each company was approved for a different overall rate increase, Allstate for 3 percent, Fremont 2.1 percent, and 21st Century for 3 percent. 21st century is still waiting on three other requests.
 
These increases in rates will go towards the state's no-fault system, Michigan being the only state that provides its citizens with lifetime compensation for accident related injuries and medical bills. Claims that reach over $500,000 will be covered by the MCCA, (After Mich. Fee Increase, Approvals Come for Insurance Rate Hikes, Ben Zitney, Online Auto Insurance News).
 
Posted in Uncategorized, Legal, News by Jason Waechter, Esq.
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*Notice/disclaimer:   Jason Waechter is a licensed Michigan attorney who has a relationship and association with lawyers in each state that specialize in handling auto related injury and fatality cases. Should you need specific advice or should the facts of your situation require investigation or a lawsuit, you will be referred to one of these experienced lawyers or firms.  Waechter is proud to have been chosen a Top 100 Trial Lawyer in Michigan.  Should you be referred to another attorney or law firm there will be a division of fees between our firm and the other firm who is working on the case—our affiliate or associating firm.

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We force the proper insurance company to pay your no-fault benefits which may include wage loss, medical bills, mileage to and from the doctors, payment of house hold chores and attendant care.

  

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