Michigan motorists will be required to buy significantly more liability coverage under the new auto insurance law, and there are no assurances those extra costs will not offset reductions the law requires in the personal injury protection (PIP) portion of motorists premiums, according to a top insurance industry executive.AutoLiabilityLegislation & Regulation
"We sure hope that they dont wash each other out," Tricia Kinley, executive director of the Insurance Alliance of Michigan, told the Free Press. "We simply dont know how the premiums will shake out."
Kinleys assessment runs counter to assurances given by Gov. Gretchen Whitmer before she signed the bill on May 30. Whitmer said she would only sign legislation that guaranteed savings for Michigan motorists.