Why You Need an Updated Home Inventory

If you haven’t taken a look at your home inventory recently, here’s your reminder to update it today. A good home inventory is a complete account of all your possessions, with a visual record, description, receipts or appraisals of worth, and necessary details like serial numbers, make, model, and other relevant information.  This task is easy to overlook but a vital one for a few reasons.

Protect Your Assets

You can’t protect what you aren’t aware you have. An updated home inventory allows you to make a knowledgeable assessment of how much your property is worth. You can make adjustments to your insurance and talk to your agent about additional coverage for items of particular worth if you have a solid understanding of the value of your property. The only way you can do that is to keep an up-to-date list of your possessions. 

Don’t Leave Money on the Table

If you need to make a claim, not having an updated home inventory could cost you money. You don’t want to rely on your memory after a loss to determine what you had. Nor is that the time you want to be scrambling to find proof of what you owned and what it was worth. An updated inventory makes the claims process easier, faster, and ensures you’ll get all the money you deserve. 

Sufficient Homeowner’s Insurance Coverage

It’s easier to do now than it’s ever been before. Cell phones make documenting your items a breeze with a built-in high-quality camera and free and simple apps designed to help you create, maintain, and easily update a home inventory. Plus, you’ll have the peace of mind of knowing your inventory is secure and stored remotely. If you are in Rochester Hills, MI and ready to go over your newly updated list, call or stop by Guy Hurley McNeil today and we can help ensure your homeowner’s policy meets your needs.

Michigan Auto Insurance: What No-Fault Auto Insurance Reform Means

Michigan no-fault auto insurance reform is confusing a lot of Michigan drivers. These are changes to auto insurance laws that every driver should be aware of so that you can get the best coverage for your needs.

At Guy Hurley McNeil, we can help Rochester Hills, MI drivers to decode Michigan no-fault auto insurance reform so that you can keep your coverage up to date. 

Follow this guide for some tips on what Michigan no-fault auto insurance reform means.

Personal Injury Protection (PIP)

PIP coverage is the coverage you get for damages after an accident that goes beyond medical and includes lost wages and pain and suffering. Unlimited PIP insurance is no longer available. 

There are coverage selections for drivers on Medicaid, and not on Medicaid. If you have Medicare, you can now choose to opt out of PIP protection.

Attendant Care

Auto insurance companies will no longer offer attendant care for more than 56 hours weekly. If you are in an accident and require home care afterwards, you will not get coverage for family-provided care for more than 56 hours a week. 

If the care is provided by a nurse or practitioner, this does not apply.

Michigan Catastrophic Claims Association (MCCA)

Reform here indicates that the MCCA will continue paying for the health care costs of accident victims in a catastrophic accident, but only if you selected unlimited no-fault PIP medical coverage.

Bodily Injury Liability

This reform has increased the limits on bodily injury liability.  You will be permitted to purchase lower limits of bodily injury liability for third party car insurance.

Get Help Understanding Changes

These are just a few of the changes that have come to Michigan’s no-fault auto insurance reform. We can help you understand them all. At Guy Hurley McNeil, we want Rochester Hills, MI drivers to have the coverage they need, without paying too much. Call us for a quote today.

Michigan Homeowner’s Guide to Insurance Reform

With recent changes to auto insurance for Rochester Hills, MI residents and our neighbors around the state, you might be wondering if any potential changes are on the horizon for other important policies like your homeowners’ insurance policy.

When to Worry about Insurance Reform

At Guy Hurley McNeil, we think it’s always a great time to learn more about insurance, but there is a limit to how much information will impact the average person’s experience with insurance. As long as you know your current policy – especially its renewal date – you should be fine. The amount of time between renewals will be different between providers and policies, but it’s usually 12 months. A little before your renewal is the best time to check in with your insurance provider. The provider may contact you about changes that would affect your plan or reminders about your renewal before then, and you can contact them if you have additional questions or just forgot something.

That said, the most impactful policies will likely be in the news while they’re still in the formulating process, and the actual implementation may take a year or more. For example, the auto insurance reform was signed in May of 2019 and took effect in June of 2020. If someone had no other outside contact except to check on their insurance around its renewal dates, they would have found out about the upcoming changes.

The best way to alleviate your worries is by having a quality provider for your insurance. The people of Rochester Hills, MI and the surrounding Metro-Detroit area can count on Guy Hurley McNeil to help you find one.

How Are Consumers Protected Under the Auto Insurance Reformed Plans in Rochester Hills, MI?

Governor Whitmer changed the way auto insurance is practiced in the state of Michigan in an unprecedented way. Anyone purchasing an auto insurance policy after July 2020 will benefit from maintaining the best coverage options at a lower cost and enjoy unparalleled consumer protections. Guy Hurley McNeil has analyzed the changes and presents the following summary of the benefits.

1. The what that insurance companies set their rates has changed.

Insurance companies can no longer count applicants’ sex, marital status, and what zip code they reside in to set the insurance rates. Other non-driving factors that no longer apply are the applicant’s education, occupation, and credit score.

2. A new Fraud Investigation Unit was established to reduce insurance fraud.

Fraudulent insurance claims drive up the premiums for everyone. The Fraud Investigation Unit will work with law enforcement to deter anyone from submitting fraudulent claims, thereby reducing fraudulent claims burden on the system.

3. Consumer’s who lapsed their policies will not be penalized.

The new law prohibits insurers from charging reinstatement fees or increase premiums because the driver did not pay their insurance premium for a period of time. This amnesty needs to be redeemed by applying for insurance coverage before January 1, 2022.

4. Department of Insurance and Financial Services (DIFS) needs to approve insurer’s rates.

Before an insurance company sets new rates and policies that will be charged to the consumers, they need to obtain approval from DIFS.

5. Increased Fines and Penalties.

The reformed plan sets much higher fines for insurance companies and their agents if they violate the law in any way.

If you are about to purchase a new auto insurance policy, chat the Guy Hurley McNeil in Rochester Hills, MI, and let him help you choose the policy that regards all the above benefits and provides the most value to your unique circumstances.

3 Reasons Why You Should Prioritize Home Insurance in 2021

Most people brush off the importance of having a homeowner’s insurance policy, but if you want to protect your home against damages, be wise and get it. Homeowner’s insurance provides coverage for hazards and perils, including vandalism, fire, theft, riots, windstorm, and hail’s property damage. If you are in Rochester Hills MI, Guy Hurley McNeil Agency provides a range of coverage options for homeowner’s insurance.

Reasons Why You Should Get Home Insurance in 2021

Insuring your home from damages is essential to protect you from financial strain and the emotional impact of damages that need expensive repairs and to add value to your home. The following are reasons why you need to prioritize home insurance in 2021.

Emergencies Are Hard To Plan For

Home insurance protects your home from damages caused by natural disasters like cyclones, tornados, fires, or hurricanes. If any of this happens, or you get robbed, you need insurance to help with reimbursement for damages. Emergencies are unforeseen, so it’s best to be prepared and invest in protecting your home and hard-earned assets.

Repairs are Costly

In the event of a fire to your home, the repairs needed could be very costly. Home insurance helps cover personal liabilities, property damage, medical expenses, and additional living expenses. If your home is inhabitable due to damages from a covered loss, you get reimbursement for additional living costs.

For Peace of Mind

Home insurance is a crucial expense that offers you peace of mind knowing that you are ready for whatever disaster might strike your home. It is a proactive way to protect your home from unforeseen calamities and uncertainties that cause financial strains.

Some things are beyond your control as a homeowner, so give your home the protection it needs with homeowner’s insurance. If you are looking for a home insurance policy in Rochester Hills, MI, contact Guy Hurley McNeil Agency Inc. for affordable quotes or call for consultation on the different types of policies.

What was included with the auto insurance reform in Michigan?

Those that are in the Rochester Hills, MI area are going to want to own a car to get around the area. This typically also requires that you have auto insurance. When looking for a new auto insurance plan here, it is important to consider the recent Michigan auto insurance reform. This reform included notable changes to law and coverage options in the state.

Prior Personal Injury Protection Requirements

Similar to other states, those that want to drive a car in Michigan need to have liability insurance. This state also included a requirement to have Personal Injury Protection, or PIP, the coverage that ultimately provides unlimited insurance coverage if someone is injured in an accident. While this provides great coverage, it can also be expensive to have as there is ultimately not a cap on what coverage can be provided in a bad accident. This has made auto coverage expensive for many drivers.

Reformed Personal Injury Protection

A big change with the Michigan insurance law is that there are now insurance policy caps when it comes to PIP. When a car owner has selected a new policy, there will have several PIP insurance caps to choose from and the legal requirement for coverage has been lowered considerably. Those that are going to build a new plan will be able to choose a PIP that provides them with comfort and allows for premiums that fit within their budget.

If you would like to get an auto insurance plan in the Rochester Hills, MI area, it would be a good idea for you to work with Guy Hurley McNeil. The team with Guy Hurley McNeil understands the laws around auto insurance in Michigan and can help to explain to you how insurance reform impacts your requirements and help you build an ideal plan.

How is Homeowners Insurance Reform Relevant for Michigan Homeowners?

By law, Rochester Hills, MI homeowners do not have to carry homeowners insurance, nor are there any regulations of rates. However, lenders often require homeowners to purchase insurance coverage to protect their investment in your home. But, again, without any state regulation, insurance companies can set their rates without following any established guidelines. 

While waiting for reform, call the experts at Guy Hurley McNeil, who understand the importance of homeowners insurance and help get you the coverage you need. 

Relevance of Home Insurance Reform

Many states, such as Florida and Colorado, have created changes in how insurance companies operate. Changes include regulating how much homeowners pay for their insurance coverage. However, Michigan does not have many guidelines or requirements in place for purchasing home insurance policies. Ultimately, insurance companies are not regulated by the state, and because of this, Michigan residents may not be as impacted by insurance reform as residents in other states. 

Michigan Homeowners Insurance Laws

Homeowners insurance is not required by law in Michigan. Because of this, insurance agents must guide and advise Rochester Hills, MI, residents about the different types of coverage to fit their homeownership and insurance needs. However, those financing a home, townhouse, or condominium may be required by the lender to carry a homeowners insurance policy. 

Possible Changes

Possible changes associated with home insurance reform include new regulations to protect both lenders and homeowners. Protection for lenders may impose penalties for borrowers who do not carry a homeowners insurance policy while mortgaging their home. Protector for homeowners may include premiums being regulated, including setting an amount policies can increase each year. 

Those with questions about home insurance reform should call the experts at Guy Hurley McNeil to determine how they could be affected. 

Changes Coming To Auto Insurance: What You Should Know

If you are a Michigan driver, you may have heard of the Michigan Auto Insurance Reform. This is a new law that went into effect in July 2020. Understanding these new auto insurance laws is essential to your safety and your auto insurance budget. At Guy Hurley McNeil, serving Rochester Hills, MI, we want to help you make good insurance choices. Keep reading to learn more about Michigan Auto Insurance Reform and how it can affect you. 

What Is The Michigan Auto Insurance Reform?

The reform is a set of new laws in place governing auto insurance in Michigan. The part of the reform which will most affect your insurance budget, however, is the No-Fault Insurance Reform Law. This law makes it mandatory for drivers to carry no-fault insurance but allows for great flexibility. Under this law, drivers can choose from four levels of PIP coverage.

Why Is This Changing?

In the past, Michigan required that all drivers carry unlimited personal injury protection insurance or PIP. Over the years, this requirement made insurance costs rise higher and higher, making Michigan auto insurance rates the 4th highest in the country. 

Under the new law, individuals will have the right to choose levels of PIP insurance. Unlimited coverage is still available, but for those who do not wish to carry unlimited coverage, you will be able to choose a less expensive package. This can help you save on your personal auto insurance, and over time it can help to bring auto insurance costs down in general as well. 

If you would like to learn more about these important changes, please contact us at Guy Hurley McNeil, serving Rochester Hills, MI. 

Michigan’s No Fault Auto Insurance Reform Cuts Funding to Car Accident Survivors

Michigan is considered to have the most expensive auto insurance in the country. As such, Michigan lawmakers have been working on auto insurance reform bills since 2019, to reduce the costs of car insurance. With this legislation however, there have been some unfortunate trickle effects on Michigan residents. The new auto insurance reform laws are resulting in a loss of funding of benefits to Michigan car accident survivors. 

The end result is that Michigan residents that need their benefits to continue after a car accident are seeing dramatic cuts to their car accident payouts. At Guy Hurley McNeil serving Rochester Hills, MI, we want you to be covered in every event that may impact your car insurance.

Who is Impacted Under Michigan’s Auto Insurance Reform?

Both beneficiaries and the services they use are being impacted by Michigan’s auto insurance reform. Insurance companies are not. This is how your auto insurance premiums are being reduced, which is what the reform is all about.

To start, Michigan residents that have been injured in a car accident and are receiving benefits for care will see a reduction in reimbursements rates by 45 percent. That means that the centers that serve accident victims will be reimbursed 55 percent of what they were receiving in January 2019. That will be in effect July 1, 2021.

Will There be a Reform to Auto Reform?

Some lawmakers are concerned about the impact this reform is having on Michigan residents and businesses. Some are saying that some rehabilitation services will not be able to survive this loss of funding.

In addition to the burdens now placed on accident victims that paid for their premiums at higher rates years ago, rehabilitation centers are experiencing budget cuts and job losses as a result of this reform.

There are two bills working their way through the Michigan state legislature that could prevent these changes. Those are SB 314 in the Senate and House Bill 4486.

Get a Quote for Auto Insurance

At Guy Hurley McNeil serving Rochester Hills, MI, we want you to be covered for every event that will impact your car insurance. Contact us for a quote and to talk about what this auto reform means for you and your family.

Is Home Insurance Reform on the Horizon?

Homeowner’s insurance should provide various benefits for Michigan homeowners but is often heavily debated and under constant examination. That’s why we at Guy Hurley McNeil have taken a few moments to examine the potential for reforms and how, if they do come, they will help homeowners who feel like their policies are not good enough for the money that they pay for them.

Are Reforms on the Horizon?

In Rochester Hills, MI, home insurance is often dictated by many different factors. However, many in the state have struggled against options like no-fault (which is most commonly an auto insurance factor) and other unique problems that impact how insurance is priced and how policies are decided. As a result, the state’s lawmakers are often heavily debating different reforms that they may pass.

Unfortunately, the state’s uniquely balanced nature between Republicans and Democrats means that few laws ever get passed that benefit the average person. When the Republican-majority House or Senate passes a bill, a Democrat governor may veto it or vice versa. These issues impact homeowners and make it more difficult for them to get the insurance protection they deserve.

How Reforms Would Help

Home insurance reforms could help cut back on expensive costs and expand what these policies cover. Many lawmakers are pushing for such changes throughout the state, hoping to make it simpler for low-income homeowners to find policies that meet their needs without costing too much money.

So if you live in Rochester Hills, MI, and need high-quality home insurance, please contact us at Guy Hurley McNeil right away to learn more. We keep track of all of the different laws in the state and seek to ensure that you get the best policies. Our team is skilled at streamlining your insurance situation and ensuring that you are fully covered in a way that others may not provide for you.