Here are some of the most important insurance requirements in Michigan:
1. Michigan law requires all drivers to carry no-fault auto insurance that includes personal injury protection (PIP) coverage. The minimum required PIP coverage is $50,000 per person, per accident. Drivers are also required to have liability coverage, which includes $20,000 in bodily injury coverage per person, $40,000 in bodily injury coverage per accident, and $10,000 in property damage coverage.
2. Employers in Michigan are required to have workers' compensation insurance to provide benefits to employees who are injured or become ill as a result of their work.
3. There is no state-level requirement for individuals to have health insurance in Michigan, but the Affordable Care Act (ACA) requires individuals to have health insurance or face a penalty. Michigan also has a state health insurance marketplace where residents can purchase coverage.
4. Michigan does not require businesses to have general liability insurance, but it is a good idea to have this coverage to protect against lawsuits or claims. Some industries may have specific insurance requirements, such as professional liability insurance for certain professions.
It's important to note that these are just a few of the insurance requirements in Michigan, and specific requirements may vary depending on the type of insurance and the individual or business's circumstances. It's always a good idea to consult with an independent insurance agent to ensure you are meeting all the necessary requirements for your situation.