MI HB4397

Requires insurers to reduce personal protection insurance (PPI) premiums by 45% for $50,000 limits, 35% for $250,000 limits, 20% for $500,000 limits, and 10% for unlimited limits, effective July 1, 2020 through July 1, 2028.

Allows applicants to choose PPI coverage limits of $50,000, $250,000, $500,000, or unlimited per individual per loss occurrence, with $50,000 option restricted to Medicaid enrollees with household members having qualified health coverage.

Permits insurers to offer exclusions for qualified health coverage and allows named insureds to opt out of PPI coverage entirely if they and household members have qualified health coverage or Medicare.

Increases automobile liability coverage minimums from $20,000/$40,000 to $250,000/$500,000 per person/accident effective July 1, 2020, while allowing election for lower limits of $50,000/$100,000 with written acknowledgment of risks.

Limits tort liability to cases involving death, serious impairment of body function, permanent disfigurement, or intentional harm; abolishes tort liability for minor injuries and property damage under $3,000 for vehicles with required security.