Michigan’s brand new vehicle insurance regulations were supposed to be a monumental change for consumers. Lots of ways to potentially save money we were told. But consumer reaction has been lackluster at best.  Part of the reason is not enough people know what to expect. Another factor is there are still some auto and truck insurance agents who aren’t well enough informed to help their clients make the right choices when adjusting vehicle policies. The state’s Department of Insurance and Financial Services is trying to change all that with more of its virtual Town Halls this week and next to help educate everyone on the changes. Only about 8,000Michigan residents have participated in the virtual learning programs to date.  The state is encouraging employers and community groups to host viewings on-site to get those numbers up and hopefully get more people tuned in to what they can change and what those changes will mean to their budgets.

The next state insurance Town Hall is set for tomorrow (Thursday, July 22)  at 12 noon.  That one is directed at drivers, those who need vehicle insurance. Another one is set for next Thursday the 30th for vehicle insurance agents. State insurance regulators say the overall intent of the new laws is to lower average statewide costs for drivers while maintaining a wide range of coverage options. It is also designed to strengthen consumer protections. For policies that issue or renew after July 1, 2020, you’ll need to determine the amount of coverage that works best for you. You can set both Personal Injury Protection Medical Coverage and the level of Bodily Injury Coverage that makes sense for you or your family.  The virtual town halls will provide explanations and give you a chance to submit questions.

Learn more at www.michigan.gov/autoinsurance. DIFS continues to operate its dedicated, no-fault hotline with calls being answered Monday through Friday from 8 a.m. to 5 p.m. - 833-ASK-DIFS (275-3437), email at autoinsurance@michigan.gov.

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