Page 16 - S & S Die Company 2020 Renewal Presentation
P. 16

What you don’t know can hurt you!


                 Understanding the recent changes to Michigan’s

                                           Auto No-Fault Reform


                                               Effective: July 1, 2020






















            •     You now have options for Personal Injury Protection (PIP)

                  on your auto insurance policy:


                   - $0: only if enrolled in Medicare Parts A & B

                   - $250,000: requires “Qualified Health Coverage” Opt-Out
                   - $500,000

                   - Unlimited

            •     PIP covers many things your medical plan excludes



            •     Important to consult with your auto insurance agent


            •     Liability will increase due to uninsured or under-insured

                  motorists.



                   - Consider adding “umbrella” coverage – this personal

                        liability insurance covers claims in excess of regular

                        coverage


            •     Our Recommendation:


                   - Maintain Unlimited PIP coverage

                   - Add “Umbrella” protection

                   - In some situations, auto insurance premiums still will

                        decrease with this recommendation
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