FLINT (WJRT) (9/19/2017) - Michigan lawmaker are looking at several proposals to bring down the cost of auto insurance rates, which are routinely some of the highest in the United States.
No formal legislation has been drafted recently, but officials are considering limits to medical coverage, fraud investigation and capping other kinds of coverage on auto policies.
Michigan insurers are required to provide unlimited medical coverage and benefits to policyholders.
Other factors that affect how much individual policyholders pay include marital status, credit scores, area of residence and driving records. Those factors can vary from company to company based on actuarial data.
"If (insurers are) paying out more losses that year for women drivers, then they may raise their rates for women drivers. If they look at their data and notice that people have lower credit scores, maybe tend to make more claims, maybe tend not to have as good pay history, they are going to maybe pay more higher rates for that," said Emily Stroub of the Al Bordeau Insurance Agency.
Stroub also added Michigan's unlimited lifetime medical coverage is something she doesn't see going away for good.
"This is the first proposal I've seen that's kept that lifetime benefit, but limited payouts for I think what they're proposing is pedestrians or uninsured passengers, people that also qualify for unlimited medical."
She offered some tips for getting the lowest rates possible on insurance:
1. Have an open dialogue with an insurance agent to address the kind of coverage you have vs. what you need.
2. Many insurers offer a discount for grouping auto, home or health insurance.