SB 972 Summary

• Amends Michigan's Insurance Code to prohibit automobile and home insurance rating classifications based on sex, marital status, education level, income, or consumer credit information/credit scores.

• Expands allowed rating factors for automobile insurance to include driver age/experience, driver primacy, weekly/annual mileage, type of vehicle use, vehicle characteristics, commuting mileage, number of cars/licensed operators, and insurance amount.

• Prohibits grouping automobile insurance risks by territory while allowing home insurance to be grouped by territory.

• Requires insurers (including those exempt from other chapter requirements) to establish secondary/merit rating plans with surcharges based on at-fault accidents and traffic violations, with civil infractions limited to the duration the Secretary of State carries points on the driver's record.

• Mandates insurers offer reduced premium rates to senior citizens (65+) who drive less than 3,000 miles annually if no established senior discount plan exists.