As the pandemic continues to disrupt everyday life the world over, many consumers want refunds on things they paid for but aren’t able to use. And Michigan is asking insurance companies to provide reimbursements or waivers to auto insurance policyholders.
Michigan vehicle insurance firms have about more than a week to create plans for providing their customers with premium waivers or reimbursements because of the COVID-19 health crisis, ABC12 reported Tuesday (June 2). Insurance companies need to provide the Michigan Department of Insurance and Financial Services with plans by June 10 that indicate the amount clients will get, how they calculated that number and how the money will be distributed.
Governor Gretchen Whitmer said per the report, “Michiganders have been staying safe and staying home and they should see the benefit in reduced auto insurance rates during the COVID-19 pandemic.” Whitmer continued, “Every family is feeling added financial pressure due to this virus, and this order will provide some much-needed relief to drivers.”