Mar 29, 2021
People in Michigan have had to pay high auto insurance rates for a long time.
In 2019, the state politicians who regulate insurance rates said they would do something about it. The Democratic governor and the Republican legislature passed and signed into law an auto insurance “reform” bill to supposedly lower the rates.
The law has been in effect almost a year. While some people are paying somewhat lower rates today, other people are paying higher rates. And people in Detroit are still paying extremely high rates.
Before the auto insurance “reform”, people in Michigan paid the highest rates in the country. After the “reform”, people in Michigan are still paying the highest rates!!!
So who benefitted from this “reform”? Well, since the law passed, 26 new auto insurance companies have applied to get into the Michigan market because it is so profitable.
It is obvious that the politicians of both parties passed a law that would “reform” (meaning increase) the profits of the insurance companies.