Michigan Motorist Fund Not So Catastrophic

By: Associated Press
By: Associated Press

Michigan motorists will pay slightly less to a fund that helps support seriously injured accident victims.

The Michigan Catastrophic Claims Association said today that its annual assessment on insurance companies will drop from 137 dollars to 123 dollars per vehicle.

The change is effective July first through June 2008.

The assessments typically are passed on from insurance companies to motorists' annual insurance bills.

The money collected helps reimburse insurance companies that have paid more than 400-thousand dollars to an accident victim. That rises to 420-thousand dollars on July 1.

Michigan is the only state that offers unlimited lifetime medical benefits for people seriously injured in car accidents.

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