New Car Accident Insurance
Michigan s new auto insurance law is one many residents have been waiting for because of the lower rates but there are complex choices drivers have to make.
New car accident insurance. The current law requires you to have auto insurance that includes unlimited personal injury protection pip medical coverage to pay for your expenses if you are injured in an auto accident. The new auto insurance law allows you to choose a level of medical coverage when your policy is issued or renewed after july 1 2020. Buying a brand new car means paying a significant amount more than buying a used vehicle. Considering this it is important for vehicle owners to have ample protection in place for their car.
If an accident occurs right after you purchase your car a basic car insurance plan may not be. Drivers may also want to talk with an auto insurance agent insurance company or financial advisor to discuss their personal auto insurance needs. You then go to sell your car and since the new buyer checks out the car s history report and finds out that it was in an accident they are not willing to pay anything near what your feel your car is actually worth. The new law requires that auto insurance companies and agents give policyholders forms that describe the benefits and risks of the coverage options.
You have a brand new car after an accident your insurance company fixes your car back to its original condition. However your driving risks remain the same if not more.