Little-known section of Michigan’s No-Fault insurance law gives retirees chance to save on premium by waiving wage loss benefits

As a Michigan No-Fault insurance lawyer who has represented hundreds of of auto accident injury victims and who fights for a living with insurance companies, I can say that there are rarely  many opportunities I see for drivers to actually lower their auto insurance premiums.

But here’s one tip:

Michigan drivers who are age 60 or older AND retired can get a reduction on their No-Fault insurance premiums by waiving their rights to No-Fault wage loss benefits.

No-Fault “reform” takes away drivers’ vital medical protections without doing anything to save them money on auto insurance

I was recently quoted as a Michigan insurance attorney source on a story in DBusiness Magazine. This story was about auto insurance company abuse tactics and how injured people are often taken advantage of after auto accidents. Here’s a blog I wrote about the insurance abuse story.

I want to share a letter I wrote to the editor of DBusiness after the story. My letter is about  HB 4936, an insurance No-Fault “reform”  bill that will ravage the rights of Michigan citizens:

Insurance attorney says that with no guaranteed savings from the insurance industry, there is absolutely no reason to support elimination of vital No-Fault medical benefits

Gone are the empty promises, suggestions, and innuendos that the changes to Michigan No-Fault will save Michigan drivers money on their auto insurance premiums.

In recent public statements, Michigan auto insurance industry leaders and lobbyists have failed to include the once-pervasive — albeit bewilderingly unsubstantiated — claim.

Act now to tell your lawmakers to vote ‘NO’ on HB 4936

Now is the time to act to save Michigan’s No-Fault law and its protection of reasonably necessary lifetime medical care for seriously injured auto accident victims.

On October 13, 2011, the Michigan House of Representatives Insurance Committee determined that the full House should vote on HB 4936, a No-Fault “reform” effort introduced by Republican Pete Lund (whose previous efforts to dismantle No-Fault were rebuffed by lawmakers) and backed by the Michigan auto insurance industry.

Hospitals, universities and medical professionals say No-Fault legislation means  job loss, lowering of medical care for Oakland County Michigan

As  Michigan accident attorneys, our opposition to HB 4936 is now well known. The insurance company-sponsored legislation is devastating to injured auto accident victims. Currently, Michigan has the best No-Fault insurance benefits in the nation, largely due to our lifetime medical benefits for necessary medical care, attendant care, and top- quality medical providers for serious traumatic brain injury and spinal cord injury victims.

Steve is quoted on “independent” medical examiners (IMEs) making vast amounts while finding “nothing wrong” with seriously injured accident victims, and the auto insurance companies’ push for No-Fault “reform”

Last week, I was quoted in an in-depth story in DBusiness magazine on insurance fraud and abuse in Michigan. The story delves into the insurance company abuse that I write about so often in this blog as a Michigan accident lawyer.

Here’s the DBusiness story: “Delay, deny defend.”

Insurance lawyer shares analysis by nationally renowned insurance expert Jay Angoff that Michigan’s No-Fault insurance companies are reaping record profits and charging excessive premiums

“Highly profitable” is how former  Insurance Commissioner Jay Angoff describes  Michigan’s largest auto insurance companies.

This comes as no surprise to our  Michigan insurance lawyers. Michigan is one of the only states in the entire country that does not have an insurance commissioner with the authority to regulate insurance company profits.

Considering  the record-breaking insurance company profits these companies are making today, it certainly puts the “reform” the insurance lobby is pushing - the No-Fault “reform” bills - in a much different light.

Former No-Fault insurance attorney writes of major mistake in the language of House Bill 4936 & Senate Bill 649 (formerly 293-294)

Today’s guest blog is written by Sanford Lakin. Sandy is retired now, but was considered one of Detroit’s preeminent plaintiff and defense attorneys.  Sandy is looking at House Bill 4936 and Senate Bill 649 as an experienced Michigan insurance attorney, and writes of a very dangerous trap for the public and for seriously injured auto accident victims in this state.

HB 4936 returns us to the problems No-Fault fixed nearly 40 years ago, and will be particularly devastating for injury victims in cities like Detroit and Pontiac

“Those who choose to ignore history doom the rest of us by repeating it.”

Much of the absurdity of the so-called Michigan No-Fault “reform” bills are best summarized by George Santayana’s famous quote.

Online article by non-lawyer will lead drivers astray: the importance of collision coverage and rental car insurance

There was some really bad insurance advice that made the rounds online yesterday on Yahoo. The article, written by the financial website Investopedia, was  “15 Insurance Policies You Don’t Need.” The online article suggests that automobile collision coverage and rental car liability and damage insurance are “not worth insuring against.”

That’s bad advice.

Collision coverage

Drivers in Michigan and most other states should almost always purchase collision coverage.