MI HB4555

Replaces "shall" with "must" throughout section 3109 of the Insurance Code of 1956 to update language usage.

Allows insurers to offer deductibles for personal protection insurance (PIP) benefits at reduced premium rates, applicable to the policyholder, spouse, and household relatives.

Requires insurers offering coverage under section 3107c(1)(d) to offer deductibles in $1,000 increments up to the average amount paid in PIP benefits for motor vehicle accidents in Michigan in the preceding year.

Mandates that deductibles under the new subsection must result in appropriately reduced premiums and apply only to benefits for the named policyholder, spouse, and household relatives.

Maintains existing requirement that benefits provided under state or federal law be subtracted from personal protection insurance benefits otherwise payable for injuries.