Michigan Insurance Costs Questioned

Gov. Granholm wants to know why Michigan Insuarnce costs are going up and is asking for an investigation.

The Governor points to one case where a woman's home insurance premium went from $1,700 a year to $10,000 a year. Granholm calls that just one of many "astonishing" rate increases facing state consumers. She says it's time to find out why the rates are going up.

Existing state law doesn't contain any financial penalties for insurance companies who are found to be gouging customers.