LANSING, Mich. (WJRT) – A majority of Michigan drivers have received their $400 auto insurance refunds with one week left before the deadline.
Gov. Gretchen Whitmer said insurance companies distributed $1.2 billion worth of refunds over the past two weeks, bringing the total sent out so far to $2.2 billion. That represents more than two-thirds of refunds.
About $800 million worth of refunds remain. The Michigan Department of Insurance and Financial Services has set a May 9 deadline for all insurance companies to distribute the $400 refund for each qualifying vehicle.
“Auto insurers have one more week to issue any remaining refunds to eligible drivers, so if you have not yet received your money, be sure to keep an eye on your mailbox or bank account,” Whitmer said.
Less than one-third of Michigan auto insurance refunds sent with less than a month left
Drivers who had a valid and qualifying auto insurance policy on Oct. 31, 2021, are eligible for a refund. The money must be distributed in the form of a paper check or direct bank deposit.
No application or fees are necessary to receive any refunds.
Drivers should call their auto insurance company — not necessarily their agent — for an update on the status of their refund. Anyone who does not receive their refund by May 9 show call state regulators at 1-833-ASK-DIFS.
The refunds were approved last fall, when the Michigan Catastrophic Claims Association identified a $5 billion surplus. The organization reimburses auto insurance companies for any claims exceeding $600,000.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.