Insurance: no-fault; penalties for lapse of insurance policy; provide waiver for certain individuals. Amends sec. 2118 of 1956 PA 218 (MCL 500.2118). TIE BAR WITH: SB 0282'23

SB 709 amends Michigan's insurance code to update the specific criteria insurers can use when deciding whether to offer automobile insurance to eligible individuals. The bill allows companies to base their decisions on factors such as household driving history, vehicle modifications for speed, past lapses in insurance coverage, and the type or commercial use of the vehicle. Additionally, it permits insurers to require a minimum deposit or higher deductibles based on an applicant's claim history for comprehensive coverage. This legislation also introduces a new provision allowing insurers to deny coverage if an applicant has threatened, harassed, or physically assaulted an employee while the employee was working. The bill includes a tie-bar provision, meaning it will only become effective if two other related bills, SB 0282 and SB 708, are also passed into law.