Here’s What All You Want to Know About the $400 Car Insurance Refund Michigan
The Whitmer administration said Friday that Michigan had begun the distribution of $400 per-vehicle refunds to the eligible Michiganders, with checks to arrive from the Michigan Catastrophic Claims Association (MCCA) catastrophic fund surplus.
The state announced that still $800 is yet to be distributed in the final week of Michigan’s three-month period. The insurance companies have to issue $400 checks to the eligible drivers, of which the deadline was May 9th.
Gov. Gretchen Whitmer said insurance companies distributed $1.2 billion worth of refunds over the past two weeks, bringing the total sent out to $2.2 billion. That represents more than two-thirds of rebates.
Gov Gretchen Whitmer, who pushed the Michigan Catastrophic Claims Association for refunds in November, verified Friday that refund distribution has already begun. She also said that insurance companies distributed $1.2 billion in refunds in the past two weeks. The total distributed amount now touches $2.3 billion, which is more than two-thirds of rebates owed to the insured drivers of Michigan.
The state advised that anyone who hasn’t received their refund should contact their insurance company before getting the Insurance and Financial Services Department.
Director Anita Fox said if anyone has trouble resolving with their insurance company or their insurer offered their refund something other than a paper check or ACH deposit, call DIFS at 833-ASK-DIFS Monday through Friday, 8 a.m. to 5 p.m. for assistance, or anyone can visit Michigan Department of Insurance and Financial Services for more information.
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Here are some Q&A offered by Michigan Department of Insurance and Financial Services
Anita Fox, Director of the Michigan Department of Insurance and Financial Services, stated that auto insurers would automatically deliver refunds to qualifying drivers in cheques or direct deposits. Here, we have also given answers to some common FAQs that you may want to know.
How can I get The $400 car insurance refund?
According to DIFS director Anita Fox, refunds will directly reach eligible insurers automatically, and no additional action needs to be taken by the insurers. Incorrect information may result in delays, so drivers should double-check that their insurer has their current address and banking details. Fox also cautioned drivers to look for potential fraud, such as scammers phoning consumers to obtain personal information.
What is the eligibility for a $400 car insurance refund?
Refunds are available to anyone who had a vehicle, motorbike, or RV insured under a policy that allowed them to operate in Michigan as of October 31, 2021. The policy must meet Michigan’s minimal insurance requirements for driving on Michigan roads.
When should I get the refund?
The Whitmer administration said Friday that Michigan had begun the distribution of $400 per-vehicle refunds to insured drivers, with checks arriving no later than May 9.
How will I get the refund money?
The MCCA will turn over the surplus cash to Michigan insurance companies by March 9, 2022, and the insurers will be responsible for delivering checks or ACH transfers to qualified policyholders. DIFS will direct insurers to issue refund checks or ACH deposits to consumers as soon as feasible, but no later than 60 days after the money is transferred.
Does a historic vehicle (registered and insured as a historic vehicle) qualify for a refund?
Due to their limited authorised use, historic vehicles are only charged 20% of the annual MCCA assessment. As a result, drivers will receive an $80 refund for each historic car covered as of 11:59 p.m. on October 31, 2021.
Will this refund impact those who are currently undergoing treatment for vehicle accident injuries?
This refund has no bearing on the care to which vehicle accident survivors are entitled under their auto insurance policy. According to the MCCA’s actuarial analysis, around $3 billion of the excess could be repaid to policyholders while assuring continuity of care for vehicle accident survivors.
What is the process if I have concerns over the $400 car insurance refund?
Consumers can contact the Michigan Department of Insurance and Financial Services at 833-ASK-DIFS (833-275-3437) Monday through Friday from 8 a.m. to 5 p.m. In case they want to complain, they need to go to the Michigan Department of Insurance or email DIFSComplaints@michigan.gov.
What is the process for getting a refund for Fleet vehicles?
The MCCA rebate is available for fleet vehicles. How much refund the fleet vehicle will get depends upon how the vehicles are recognized in the fleet’s auto insurance policy.
The individually-identified vehicles such as by VIN or licence plate number will get the full refund of $400.
For policies written on a per-plate basis, such as those used by car dealerships, the MCCA refund of $400 will be calculated and sent on a per-plate basis.
For commercial fleet policies issued on a gross-receipts basis or other procedures where individual cars cannot be identified, the reimbursement will be computed as 135 per cent of the applicable in-force commercial auto PIP written premium for such policies.
Has anyone received a refund for their Michigan insurance?
With one week until the deadline, most Michigan drivers have received their $400 auto insurance reimbursements. Gov. Gretchen Whitmer announced that insurance companies had distributed $1.2 billion in refunds over the last two weeks, allocating the total amount to $2.2 billion.
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