Brief Explanation of Michigan No-Fault Insurance. When You Are looking to purchase
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NO-FAULT INSURANCE is required by law in Michigan. Every owner of a car must buy certain basic coverages in order to get license plates. It is against the law to drive or let your car be driven without no-fault insurance.
If you have an auto accident, no-fault insurance pays for your medical expenses, wage loss benefits, replacement services, and the damage you do to other people's property. It does not matter who caused the accident.
Your basic no-fault insurance does NOT pay for repairs to your car. For an explanation of insurance coverages providing protection for your car, see the next page of this sheet.
The Basic No-Fault Policy You Must Buy Has Three Parts:
1. Personal Injury Protection (PIP)
If you are hurt in an auto accident, this part of your no-fault policy will pay all of your medical costs. It will also pay up to 85% of the income you would have earned if you had not been hurt, for up to three years. However, the amount that you would be paid for lost income is limited and the limit is revised annually. Effective 10/1/14, the maximum is $5,392 per month. If you are killed in an accident, your policy will pay your family up to $5,392 per month for three years, depending upon what they would have received from your earnings and fringe benefits. In addition, you are entitled to "up to" $20 per day in replacement services. This is to pay for routine household services which injured persons are no longer able to provide for themselves or their families, such as housekeeping and yard work.
2. Property Protection (PPI) Explanation.When your trying to Get the best coverage for
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No-fault will pay up to $1 million for damage your car does in Michigan to other people's property, such as buildings and fences. It will also pay for damage your car does to another person's properly parked vehicle. It does not pay for any other damage to cars.
3. Residual Liability Insurance - Bodily Injury and Property Damage
The no-fault law protects insured persons from being sued as a result of an auto accident except in certain special situations. In general, you can only be sued:
(a) if you cause an accident in Michigan in which someone is killed, seriously injured, or permanently disfigured;
(b) if you are involved in an accident in Michigan with a non-resident who is an occupant of a motor vehicle not registered in Michigan;
(c) if you are involved in an accident in another state; or
(d) for up to $1,000 if you are 50% or more at fault in an accident which causes damages to another person's car which are not covered by insurance.
Your required minimum coverage no-fault policy will pay up to certain amounts.Call Schoen Insurance Agency For The Best Price and Service In Ingam County Michigan Or if you Are looking for
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