MI SB1002

Restricts automobile insurance rates to five primary factors: driving safety record of at-fault accidents (greatest weight), annual miles driven (second greatest weight), years of driving experience (third greatest weight), coordination of benefits for personal protection insurance (fourth greatest weight), and other factors adopted by the director by rule (combined weight less than fourth factor).

Prohibits automobile insurers from using sex, marital status, home ownership, educational level, occupation, postal zone/zip code/neighborhood, credit information/credit score, insurance score, or price elasticity of demand to determine rates and premiums.

Allows automobile insurers to offer premium discounts to insureds 50 years of age and older who complete a traffic accident prevention course, with 8 hours minimum for initial courses and 4 hours minimum for refresher courses.

Limits underwriting rules for automobile insurance eligibility to specific criteria including insurance eligibility points, household member points, vehicle modifications, proof of prior insurance, vehicle type, commercial use, and minimum deposits.

Repeals section 2162 of the insurance code and clarifies that "personal insurance" excludes automobile insurance for purposes of credit score and insurance score restrictions.