Auto Insurance Policyholders ~ MCCA Asks Additional Payment from Michigan Auto Insurance Policyholders : Michigan auto insurance loan policyholders are recently asked to pay an additional amount of $1.91 in car insurance price to help the MCCA fund lifetime insurances for people with serious injuries from accidents. The addition would start at July 1, 2011.
The MCCA, or the Michigan Catastrophic Claims Association, has been funding members for their lifetime medical insurance through excess payments of a set amount per claim, or the personal injury protection (PIP) premium.
When the said addition would push through, the total reimbursements the MCCA will give to auto insurance companies would total to half a million dollars in increase. The MCCA has also claimed in a statement that they have given out $897 million for reimbursement to those under unlimited lifetime medical benefit on their auto insurance policy.All of Michigan auto insurance providers are required to be under the MCCA. The said association also has given out about $74 billion in injury insurance from its formation in 1979. The state of Michigan is the only state in the US that allows funding unlimited lifetime medical benefits for those seriously injured in accidents, making them the state with the highest amount of auto insurance price in the country.
