MI HB4734

Changes mandatory language from "shall" to "must" for benefits provided under state or federal law that must be subtracted from personal protection insurance (PIP) benefits for injuries.

Adds definition that an injured person is a natural person who suffers accidental bodily injury.

Allows insurers offering PIP benefits to offer deductibles at reduced premium rates applicable to the policyholder, spouse, and relatives domiciled in the same household.

Requires insurers to offer deductibles in $1,000 increments up to the average amount paid in benefits for motor vehicle accidents resulting in accidental bodily injury in Michigan in the preceding year, with appropriately reduced premiums.

Limits the new deductible option in subsection (4) to apply only to the named policyholder, spouse, and relatives domiciled in the same household.