MI HB5670

Allows applicants and named insureds to choose lower automobile liability coverage limits after July 1, 2020, with minimums of $50,000 per person and $100,000 per accident (vs. the standard $250,000 and $500,000 requirements).

Requires insurers to provide applicants with available liability options, prices for each option, and an acknowledgment form when issuing or renewing policies after July 1, 2020.

Mandates the acknowledgment form include conspicuous warnings about risks of lower coverage limits and require the person to mark and sign the form acknowledging receipt of options and understanding of risks.

Makes a chosen coverage level effective and continuing while the insured remains with the same insurer or its affiliate, unless the insured later selects different limits.

Establishes that if no choice is made, the standard limits of $250,000 per person and $500,000 per accident automatically apply to policies issued or renewed after July 1, 2020.