AAIS - American Association of Insurance Services Inc.
04/05/2024 | News release | Distributed by Public on 04/05/2024 09:58
Michigan Adjusts Minimum Claims Amount for Homeowners Nonrenewals
On March 27, 2024, the Michigan Department of Insurance and Financial Services (DIFS) released Bulletin 2024-02-INS, updating the minimum dollar amount of the three-year claim history to be used for nonrenewal of a home insurance policy, effective on January 1, 2024.
The new minimum dollar amount for three paid claims within the immediately preceding three years totaling $4,000 or more, exclusive of weather-related claims, is $5,000.
The new minimum dollar amount for three paid claims within the immediately preceding three-years totaling $5,300 or more, including weather-related claims, is $6,600.
Please see Bulletin 2024-02-INSfor more information. Any questions regarding the bulletin should be directed to:
Department of Insurance and Financial Services
Office of General Counsel
530 W. Allegan Street - 8th Floor
P.O. Box 30220
Lansing, Michigan 48909-7720
Toll Free: (877) 999-6442
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