Important Insurance News
This was in today’s Detroit Free Press–Marty O’Neill, Insurance Agent.
STATEWIDE: Auto insurance fee to drop in July
Michigan motorists will pay a little less for auto insurance in the coming year. On July 1, the assessment for the Michigan Catastrophic Claims Association (MCCA) will drop by $18.57 to $104.58 per vehicle. The MCCA covers the costs of treating severely injured accident victims that exceed $420,000.
It’s the second straight year the assessment has decreased. The fee is charged to insurance companies, which pass on the cost to policyholders. It is charged to each vehicle.