MI HB5582

Amends the Insurance Code of 1956 to regulate automobile and home insurance classification and rating factors used by insurers in Michigan.

For automobile insurance, limits classifications to specific actuarial factors including driver age/experience, vehicle characteristics, miles driven, type of use, safety belt use, and completion of accident prevention courses meeting minimum 8-hour classroom standards.

Prohibits automobile insurance rates from being based on sex or marital status, and establishes a secondary merit rating plan allowing surcharges for at-fault accidents and traffic violations, with surcharge duration limited to the period the Secretary of State carries points on the driving record.

Restricts territorial base rate variance to no more than 2% between lowest and highest rates for the same policy with identical classifications, and requires insurers to offer reduced rates to senior citizens age 65+ who drive less than 3,000 miles annually.

For home insurance, permits classifications based only on coverage amounts, security devices, structural defects, fire protection class, construction type, prior loss experience, smoking materials use, distance from fire hydrants, and law enforcement availability.