Some Americans who drive may see a check worth $400 refunded to them by May of next here.
Residents in Michigan that have automobile insurance will see a refund for each vehicle they insure.
The deadline for refunds to be sent is May 9, 2022.
The checks are going to customers that have personal injury protection. Your type of insurance provider won’t change your eligibility.
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How are customers being given up to $400 refunds for car insurance?
Michigan Gov. Gretchen Whitmer devised a plan to put money back into state resident’s pockets after a report was released detailing a $5 billion dollar surplus.
Whitmer worked with the Michigan Catastrophic Claims Association to get these refunds approved.
Michigan had the highest insurance rates in the U.S., but now they have different choices and lower priced options.
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The Michigan Department of Insurance and Financial Services is urging drivers that are currently uninsured to gain insurance by Jan 1, 2022 to avoid penalties.
The MCCA was accused of holding onto $5 billion to reimburse insured drivers for medical claims.
An analysis was completed, finding that $3 billion could be returned to customers with $2 billion being an adequate fund.
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How to receive the refund
There is nothing required to get the refund.
The money will be given to insurance companies in Michigan by March 9, 2022 and the checks will be issued to eligible customers.
Insurers are directed to issue refunds as fast as possible, but no later than 60 days past when they receive the funds.
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